Fintech PR
Glentra Capital, a new energy transition investment firm backed by large Danish investors, announces first close of EUR 443 million
COPENHAGEN, Denmark, Sept. 14, 2023 /PRNewswire/ — With a total commitment of EUR 443 million (DKK 3.3 billion) from anchor investors Novo Holdings and PKA and several other investors, Glentra Capital (‘Glentra’) today announced the first close of its energy transition fund, Glentra Fund I. Based in Copenhagen and London, Glentra is a newly established investment firm with an ambition to accelerate the energy transition for a clean and sustainable future.
Energy transition is the most urgent and complex challenge society faces today. To meet the UN climate goals, investments in renewable energy need to increase substantially, and the way energy is produced, distributed and consumed worldwide must undergo rapid transformation. Glentra Fund I is positioned to leverage this opportunity and identify profitable investments that will benefit its investors and the planet.
Glentra Fund I will invest in and grow great companies that lead in the development and deployment of renewable energy such as offshore and onshore wind, solar, sustainable fuels, energy storage, electric mobility and other related sectors. With a commitment to promote environmental, social and governance (ESG) measures, the fund seeks to drive positive change while delivering attractive returns for its investors.
Glentra is headed by founding Partners Henrik Tordrup and Lars Villadsen, both of whom will be investing a significant amount of their own wealth into the fund. Henrik Tordrup has a background with Ørsted and Copenhagen Infrastructure Partners (CIP), where he had a leading role in establishing CIP’s global investment platform, and Lars Villadsen has a background with Vestas as part of the senior management team in North America. In addition, Glentra comprises a diverse team of investment and industry professionals with deep experience from the renewable energy and investment industries.
Henrik Tordrup, Managing Partner at Glentra, said: “We are thrilled to announce the first close of Glentra Fund I. This milestone represents a significant step forward in our mission to accelerate the transition towards a future based on sustainable energy sources while creating value for portfolio companies and investors. Only by creating value and attractive risk-adjusted returns are we truly able to accelerate the transformation that is needed. We are grateful for the trust and confidence in this vision that our investors have shown us, and we look forward to partnering with them to make a lasting impact on the energy landscape.”
Partner and co-founder at Glentra, Lars Villadsen, added: “Since our establishment, we have been busy building the team and engaging in conversations with interesting companies that share our vision and clearly see the value in partnering with Glentra by incorporating us in their ownership structure.”
Novo Holdings and pension fund PKA are pleased to be part of Glentra’s journey and are aligned with Glentra’s vision.
Morten Beck Jørgensen, Managing Partner, Capital Investments, Novo Holdings, said: “We are proud to be a co-founder of Glentra, and a large anchor investor and limited partner in Glentra Fund I. At Novo Holdings, we firmly believe in the importance of investing to accelerate energy transition and promote sustainable development. By supporting Glentra and Glentra Fund I, we aim to drive positive change within the energy sector and contribute to a more sustainable future, which aligns with Novo Holdings’ purpose of improving people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.”
Michael Nellemann Pedersen, Chief Investment Officer at PKA, said: “PKA is determined to continuously play an active role in the global energy transition. We engage in investments that make an impact towards a future relying solely on renewable energy and simultaneously generate a high financial return for our members. Furthermore, PKA is very pleased to be an anchor investor and large limited partner in Glentra Fund I alongside like-minded and professional partners such as Novo Holdings that share our view on the necessity of investing in and contributing to a more sustainable world for generations to come.”
Investing in the global energy transition has evolved from asset-by-asset investments into a growth industry with underlying infrastructure characteristics that provides resilient and predictable revenues. Consequently, Glentra will leverage and scale the experience of the team to support companies operating within energy transition.
The first close of Glentra Fund I marks an important milestone that paves the way for further investments and partnerships within the energy transition space. Glentra Fund I has commitments of approximately 60% of the EUR 750 million target size and is actively engaging with additional investors and expects to hold subsequent closings in the coming months.
About Glentra Capital
Glentra Capital (‘Glentra’) was founded in 2022 by senior executives from the renewable energy and fund management industries, with the vision to generate attractive risk-adjusted returns while accelerating the global energy transition for a clean and sustainable future. Glentra will contribute to this vision by investing in and growing exceptional companies that deliver the energy infrastructure of tomorrow via investments in development platforms ranging from offshore wind to solar and sustainable fuels and in their supply chain companies as well as in energy optimisation and integration businesses. The geographical investment focus is on Europe and North America due to the fundamentally attractive energy transition environments.
Today, the company employs a total of 16 people across its two offices in Copenhagen and London. The mix of industry and investment experience among Glentra’s partners and team of employees secures a unique platform for growth and value creation for portfolio companies and investors.
About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.
Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.
www.novoholdings.dk
About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society. www.novonordiskfonden.dk/en
About PKA
PKA is one of Denmark’s largest pension funds. We provide lifelong security to a community of over 355,000 members, primarily from the social work and healthcare sectors. The members are also our owners. On their behalf, we manage assets of DKK 400 billion (EUR 54 billion), which we invest, among other things, in solar, wind and global goals.
The transaction is structured and managed by Maj Invest Equity on behalf of PKA.
www.pka.dk
View original content:https://www.prnewswire.co.uk/news-releases/glentra-capital-a-new-energy-transition-investment-firm-backed-by-large-danish-investors-announces-first-close-of-eur-443-million-301926836.html
Fintech PR
Acceleration of global marketing collaboration between Milk Partners, AirAsia rewards, and The Sandbox
– Milk Partners, AirAsia rewards and The Sandbox are collaborating to provide a new experience allowing users to earn real-world value through the metaverse gaming platform
– Launching metaverse game project ‘MiL.k X BIGGIE Wonderverse’ offering SAND Tokens, Milk Coins and AirAsia points
– “MiL.k is committed to continuously expanding its blockchain ecosystem through strategic partnerships with global partners.”
SEOUL, South Korea, Oct. 23, 2024 /PRNewswire/ — Milk Partners has announced a collaboration with The Sandbox, the global metaverse platform, and AirAsia rewards, the loyalty program of Asia’s leading online travel agency (OTA), AirAsia MOVE. This partnership is set to offer global users an immersive Web3 experience where they can earn rewards with real-world value through engaging in a metaverse-based game.
The newly launched ‘MiL.k X BIGGIE Wonderverse’ metaverse game allows users to earn Sand Tokens, Milk Coins, and AirAsia points. The game is inspired by BIGGIE, the mascot of AirAsia rewards, and modeled after the BIGGIE Wonderland mini-game in the AirAsia MOVE app. Users need to first complete tasks by collecting Milk Coins (symbolized game assets) in the Sandbox metaverse, which can be exchanged for other game assets such as virtual AirAsia points, virtual passports, and virtual boarding passes. Once all tasks are completed, users will then be rewarded with Milk Coins, Sand Tokens, and AirAsia points.
This collaboration has been based on MiL.k’s reliability and strong global network, which has steadily expanded partnerships with major global companies and has become an innovative model for the industry.
This collaboration is part of MiL.k’s broader strategy to expand its blockchain-based loyalty ecosystem, which already includes partnerships with SK OK Cashbag, Lotte L.Point, CU, Megabox, Yanolja, and others. AirAsia rewards operates a comprehensive loyalty platform for the AirAsia group, enhancing its travel and lifestyle businesses, including airlines, online travel agent (OTA), logistics, aviation services, e-commerce, financial services, and more. The Sandbox, a global metaverse platform with over 6 million users, offers a unique space for creating games and generating revenue. Together, AirAsia rewards and The Sandbox will further expand MiL.k’s ecosystem through global partnerships.
The CEO of Milk Partners, Jungmin Cho said “Following our successful collaboration event with CU, we are happy to announce the next event with AirAsia rewards. Through this partnership, for partners, we are providing a new marketing channel on metaverse and for users, we are expecting to share the fun experience and real benefits.” He added, “We will continue to explore various opportunities with global partners across diverse industries.”
In June, MiL.k introduced a metaverse experience ‘Play CUX MiL.k’ with CU and The Sandbox, offering users an engaging new way to explore blockchain and the metaverse. MiL.k is committed to continuously expanding its global partnerships to provide more exciting experiences for global users.
Photo – https://mma.prnewswire.com/media/2536675/image.jpg
View original content:https://www.prnewswire.co.uk/news-releases/acceleration-of-global-marketing-collaboration-between-milk-partners-airasia-rewards-and-the-sandbox-302282640.html
Fintech PR
H&M Foundation: Global Change Award 2025 launched – with a mission to accelerate innovation for a net-zero textile industry by 2050
STOCKHOLM, Oct. 23, 2024 /PRNewswire/ — The H&M Foundation today announces a significant shift in its overall strategic direction, focus on supporting the textile industry in halving its greenhouse gas emissions every decade by 2050, while promoting a just and fair transition for both people and the planet. The innovation challenge Global Change Award 2025 (GCA) is the first initiative to reflect this shift.
GCA is now seeking innovative ideas addressing different high emission areas across the textile industry value chain, including sustainable materials and processes, responsible production, mindful consumption, and ‘wildcards’ that support the GCA purpose. Today, only a fraction of philanthropic capital is directed to climate.
“The textile industry needs all hands-on deck if we are going to meet our climate goals by 2050, and we must ensure this transition is fair for everyone. I really believe that innovation is key to decarbonising the industry, and that the Global Change Award can play a role in identifying and growing future changemakers whose ideas can have a transformative impact if given the right support,” says Karl-Johan Persson, Board Member of the H&M Foundation.
Since GCA launched in 2015, 46 innovations have received support and a combined grant of 8 million euros. While it continues to award 10 winners every year, with each receiving 200,000 EUR, there are other key updates to the GCA:
- New focus area – decarbonising the textile industry.
- Holistic approach – equipping changemakers with a holistic people and planet mindset.
- Wider range of changemakers – switching to a nomination-based process, instead of an open application system.
- Systems change approach – equipping changemakers to consider the entire textile value chain and its interconnectedness while also considering the impact on people.
“While the industry is hungry for innovation, the holistic perspective to decarbonisation is often lacking, and the critical early stages of an innovator’s journey overlooked – this is where philanthropy can make a real difference”, says Annie Lindmark, Programme Director for Innovation at the H&M Foundation.
In addition to financial support, winners will gain access to a powerful network of mentors, collaborators, and industry leaders to help bring their solutions to life. Together with partners Accenture and KTH Royal Institute of Technology, H&M Foundation will invite the winners to participate in a yearlong, tailormade Changemaker Programme. The Global Change Award 2025 winners will be announced in April 2025.
CONTACT: Jasmina Sofić, Media Relations Responsible, +4673 465 59 59
Photo: https://mma.prnewswire.com/media/2537220/HM_Foundation_Global_Change_Award_25.jpg
Logo: https://mma.prnewswire.com/media/2537258/H_M_Foundation_logo_PNG_black.jpg
View original content:https://www.prnewswire.co.uk/news-releases/hm-foundation-global-change-award-2025-launched—with-a-mission-to-accelerate-innovation-for-a-net-zero-textile-industry-by-2050-302283317.html
Exclusive tech event will convene business leaders, investors and thought leaders in 2025
LAGUNA BEACH, Calif., Oct. 22, 2024 /PRNewswire/ — Dow Jones announced today the expansion of WSJ Tech Live through a multi-year agreement that will bring the marquee event to the State of Qatar starting next year. Appearing on stage at this year’s event in Laguna Beach, Calif., Sheikh Jassim bin Mansour bin Jabor Al Thani, Director of the Government Communications Office of the State of Qatar, and Almar Latour, publisher of The Wall Street Journal and CEO of Dow Jones, jointly announced that WSJ Tech Live Qatar will debut in late 2025 and take place annually for five years.
This marks the first time WSJ’s most exclusive tech event will be held in the Middle East. The invitation-only conference will bring together an audience of over 200 C-suite executives, investors, innovative startups and influential venture capitalists from across the world. Dow Jones will continue to operate WSJ Tech Live annually in California while adding WSJ Tech Live Qatar to the calendar starting in December 2025.
Sheikh Jassim highlighted that the conference aligns with Qatar’s vision to become a global hub for advanced technology and innovation, as outlined in the Third National Development Strategy and Qatar National Vision 2030.
“Hosting WSJ Tech Live marks another significant step in the growth of Qatar’s technology ecosystem,” said Sheikh Jassim. “When the world’s top tech leaders gather in Qatar, it will create an unparalleled opportunity to benefit from their diverse expertise, insights and global networks. This will inspire local talent, attract international investment, and create avenues for strategic global partnerships that propel our development journey forward.”
“Dow Jones and The Wall Street Journal deliver reliable journalism, data, and analytics to business professionals worldwide, and to do so we must reflect the entire global business community,” said Latour. “With the MENA region’s growth and increased role in tech–especially at the intersection of AI and the energy sector–we are delighted to be partnering with Qatar.”
Currently in its 11th year, WSJ Tech Live convenes the biggest newsmakers in technology across entertainment, music, robotics and AI, science and more. This year’s marquee event is the company’s most successful Tech Live since its inception, with record-breaking sponsorship revenue. The event showcased groundbreaking insights on a wide range of topics including the global impact of generative AI, the future of brain-computer interfaces, the outlook for startup investments, fostering the next generation of technology talent and how the upcoming U.S. election could impact the tech industry.
WSJ Tech Live joins a series of global events hosted in Qatar, including the FIFA World Cup™, Web Summit Qatar, Formula 1 Qatar Grand Prix, and Doha Forum. The event also builds on Dow Jones’s existing presence in MENA, which serves as an important hub for reporting from The Wall Street Journal, and home to key sales and services functions.
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s, MarketWatch, Mansion Global, Financial News, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
About the Government Communications Office of the State of Qatar
The Government Communications Office was established in 2015 to serve as the strategic communications arm of the State of Qatar. It coordinates communications activities across government and public-sector institutions, showcasing the country’s vision, initiatives and achievements in line with the Qatar National Vision 2030.
View original content:https://www.prnewswire.co.uk/news-releases/dow-jones-to-expand-wsj-tech-live-event-to-qatar-302283664.html
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