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EIFO and Novo Holdings lead €14M round in Power-to-Peroxide pioneer HPNow
COPENHAGEN, Denmark, Sept. 19, 2023 /PRNewswire/ — HPNow, the pioneer in electrification of the hydrogen peroxide industry, announced the successful closing of a €14M round.
The equity round is led by The Export and Investment Fund of Denmark (EIFO) together with Novo Holdings. Other investors in the round include MatiTech – a sustainable water treatment solution provider in Sub Sahara, and existing investors Evonik Venture Capital and AP Ventures.
HPNow’s breakthrough electrochemical technology enables the safe and sustainable generation of a powerful green oxidant directly on site, using only water and electricity as inputs. The output solution breaks down to pure water and oxygen following use. HPNow is bringing to market a greener alternative to the conventional fossil-fuel based centralized production, transportation and handling of bulk hydrogen peroxide, offsetting as much as three tons of CO2eq per ton of hydrogen peroxide generated on site, compared to standard production techniques.
With applications across agriculture, process water, and the food and beverage sectors, HPNow’s solutions provide not only a sustainable alternative but an economically viable one, with strong payback as compared to traditional chemical-based water treatment. The company’s solutions can further be utilized towards the breakdown of hazardous micro-pollutants in drinking water originating from pharmaceuticals, cosmetics, and O&G industries.
Proceeds from this round of financing will primarily be used towards the scaling up of HPNow’s marketing, sales, technical support and production capacity, in order to address growing market demand.
“Danish Power-to-X pioneers like HPNow are leading the way to a more sustainable future. From agriculture to industry, their technology, originally developed at the Technical University of Denmark, represents a multi-billion euro market opportunity for safe, sustainable and affordable water treatment,” said Investment Director at EIFO, Jonas Bjaaland.
“For EIFO it is important to ensure that green capex intensive pioneers like HPNow can scale up and make their technology available for the world market. We do that by closing the funding gap with equity for now but will also at a later stage be able to provide debt and export credit in corporation with commercial banks. With this group of investors HPNow can take big steps towards achieving not only the world market goal but also the UN Sustainable Development Goals,” he added.
“Water is a vital resource for our planet and the people that inhabit it. With our investment we are striving to benefit people and the planet, so this endeavour into sustainable water treatment is a logical step for us. HPNow’s hydrogen peroxide generation technology contributes to the responsible use of one of the most precious resources we have, and we are very pleased to join the company on this journey,” Marcus Remmers, Partner at Bioindustrial Investments, Novo Holdings, added.
“This new investment round, led by top-tier investors EIFO and Novo Holdings, represents a strong endorsement of our technology and market offerings, and will enable us to take a major leap forward in our company’s development. With the strong backing of new and existing partners, our company is ready to take sustainable on-site peroxide generation to the next level,” said Ziv Gottesfeld, CEO at HPNow.
About HPNow
HPNow addresses growing global challenges in clean water and sanitation through its range of on-site, autonomous, safe, and sustainable ultra-pure hydrogen peroxide generation solutions. HPNow was spun out of the Danish Technical University (DTU) in 2015, and is now headquartered in Copenhagen, with sales representation across Europe, the Americas and Asia. HPNow’s solutions address water treatment professionals’ needs in market segments ranging from agriculture to industrial and drinking water treatment. HPNow is a technology and market leader in on-site generation of hydrogen peroxide and is continuously striving to further advance its technology and products in order to meet growing market needs and rising global demand.
About EIFO
The Export and Investment Fund of Denmark (EIFO) is the national promotional bank and export credit agency of Denmark combined in one new financial institution. EIFO provides a single point of access for Danish companies as well as for their foreign and domestic business partners who need risk-tolerant government capital. EIFOs main objective is to support Danish companies which can green the globe.
About Novo Holdings
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.
About MatiTech
MatiTech Solutions specializes in transforming water from diverse sources into usable assets for various applications. MatiTech prides itself on offering cutting-edge technologies and expertise in the field of water treatment. MatiTech stands by its commitment to provide sustainable water treatment solutions in Sub-Saharan Africa.
About Evonik Venture Capital
Evonik Venture Capital generates strategic value and growth opportunities through investing and partnering with innovative start-up companies. With a fund size of €400 million, Evonik Venture Capital has made about 50 investments since 2012, both direct and fund investments. The investment scope ranges from early stage to growth stage with an investment volume of up to €15 million per portfolio company. From its office in Germany, the USA and China, EVC invests in innovative technologies in the areas of Nutrition & Care, Smart Materials, Specialty Additives and Digitalization, as well as in technologies to support Evonik’s Sustainability Strategy.
About AP Ventures
AP Ventures is headquartered in London and manages venture capital funds with a global mandate to invest in pioneering new technologies and businesses which aim to solve global challenges such as renewable energy integration and resource scarcity. AP Ventures has been investing in the hydrogen industry since 2013 and is recognised as a leading venture capital fund across this value chain. AP Ventures manages USD 395m of assets on behalf of 12 LPs and has invested in more than 20 technology companies across the hydrogen value chain.
Stay in the loop by following HPNow on LinkedIn, Facebook, Twitter and Instagram.
View original content:https://www.prnewswire.co.uk/news-releases/eifo-and-novo-holdings-lead-14m-round-in-power-to-peroxide-pioneer-hpnow-301930970.html
New logo reflects ability to power mission-critical decisions with confidence
LONDON, Jan. 9, 2025 /PRNewswire/ — Crisil Limited, a provider of ratings, data, research, analytics and solutions, today unveils its new brand logo.
The new brand identity, ‘Crisil’ (earlier written as CRISIL), reinforces the company’s position as a global, insights-driven analytics firm, building on a distinguished legacy of close to four decades.
Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.
Says Amish Mehta, Managing Director & CEO, Crisil, “Our reimagined brand expresses a more progressive vision of our future. It celebrates a pioneering and illustrious past and showcases our commitment to deliver actionable insights to clients. Our people’s analytical rigour and domain expertise will continue to set standards and empower clients to make mission-critical decisions with confidence. The new brand identity guides us in shaping how we present ourselves to the world, influencing every interaction internally and externally to help us deliver exceptional client value.”
The strategic brand transformation positions Crisil’s businesses — Crisil Ratings, Crisil Intelligence (formerly MI&A), Crisil Coalition Greenwich, and Crisil Integral IQ (formerly GR&RS) — under a cohesive identity that offers a consistent and more connected experience for clients around the world.
Crisil Ratings: Offers independent credit ratings in India that empower informed decisions and objective benchmarking by lenders, investors and issuers.
Crisil Intelligence: Offers insights, consulting, technology-driven risk solutions and advanced data analytics, serving clients across government, private and public enterprises, empowering them to make informed decisions.
Crisil Coalition Greenwich: Offers strategic benchmarking, analytics and insights to the financial services industry and specialises in providing unique, high-value and actionable information to help clients measure and drive their business performance.
Crisil Integral IQ: Offers solutions and actionable intelligence to financial institutions around the globe to deliver strategic transformation, optimise risk and drive operational excellence.
The main logo in bold black is simple yet strong, symbolising excellence and the certainty that we deliver. Complementing this, our business logos now feature a distinct teal colour that conveys the confidence and trust rooted in rigour and domain expertise.
About Crisil Limited
Crisil is a global, insights-driven analytics company. Our extraordinary domain expertise and analytical rigour help clients make mission-critical decisions with confidence.
Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.
Headquartered in India, Crisil is majority owned by S&P Global.
Founded in 1987 as India’s first credit rating agency, our expertise today extends across businesses: Crisil Ratings, Crisil Intelligence, Crisil Coalition Greenwich and Crisil Integral IQ.
Our globally diverse workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East, setting the standards by which industries are measured.
For more information, visit www.Crisil.com
Connect with us: LINKEDIN | TWITTER | YOUTUBE | FACEBOOK
Disclaimer
This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Crisil. However, Crisil alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.
Crisil has taken due care and caution in preparing this press release. Information has been obtained by Crisil from sources which it considers reliable. However, Crisil does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. Crisil especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
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DUBAI, UAE, Jan. 9, 2025 /PRNewswire/ — MANTRA, a purpose-built layer 1 blockchain for tokenized real-world assets (RWAs) has signed a US$1 billion agreement with DAMAC Group, a prominent investment conglomerate, renowned for its diversified portfolio that spans across key sectors such as real estate development, hospitality, data centres, and more, to tokenize assets in the Middle East.
The collaboration between MANTRA and the DAMAC Group will enable token-based financing for a diverse range of assets within the group’s extensive portfolio of companies, with a minimum value of US$1 billion.
The DAMAC Group assets will be available in early 2025, exclusively on MANTRA Chain, marking a bold step in leveraging blockchain technology to bring greater transparency, security, and accessibility to DAMAC Group’s wide-ranging assets. This milestone partnership is yet another step in MANTRA’s vision to become the preferred ledger of record for real-world assets.
“This partnership with DAMAC Group is an endorsement for the RWA industry. We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities onchain,” said John Patrick Mullin, CEO of MANTRA.
Amira Sajwani, Managing Director of Sales & Development at DAMAC, said, “DAMAC is always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions. Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”
The MANTRA and DAMAC Group partnership follows the recent announcement of MANTRA Chain’s Mainnet launch, which went live in October, representing a significant milestone in the integration of traditional finance with blockchain technology.
About MANTRA:
MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.
Website | Twitter | LinkedIn | Discord
About DAMAC Group:
The DAMAC Group is the multi-billion-dollar business conglomerate of UAE based Hussain Sajwani. The Group’s investments are divided into seven core areas; real estate, capital markets, hotels & resorts, manufacturing, catering, high-end fashion and data centres.
Some of the Group’s most notable activities include DAMAC Properties, one of the region’s largest property developers, the acquisition of the Italian fashion house, Roberto Cavalli and luxury Swiss jewellery brand de GRISOGONO, the 50-storey development DAMAC Towers Nine Elms in London and a luxury resort in the Maldives.
In a bid to disrupt the global data centre landscape, the Group recently announced plans to build data centres through its digital infrastructure company, EDGNEX Data Centers by DAMAC, across different global locations.
Today, the Group’s global footprint extends across North America, Europe, Asia, Middle East and Africa. With its vision firmly set on growth and expansion, the Group continues in its quest for diversification and business excellence.
Visit us at www.damacgroup.com
View original content:https://www.prnewswire.co.uk/news-releases/mantra-and-damac-group-revolutionize-tokenized-real-world-assets-with-us1-billion-deal-302346789.html
- Transaction marks the EQT Transition Infrastructure strategy’s second highly thematic investment over the past month, to be acquired with capital from EQT’s balance sheet
- Scale Microgrids is a vertically integrated energy company that designs, builds, finances, owns, and operates microgrids and distributed energy assets in North America, with a vision to power the world with distributed energy.
- EQT will support Scale Microgrids along its existing growth journey through significant investments in its commercial processes, tech platform and project execution capabilities, enabling the Company to own and operate billions of dollars in distributed generation assets.
NEW YORK, Jan. 9, 2025 /PRNewswire/ — EQT is pleased to announce that EQT Transition Infrastructure (“EQT”) has agreed to acquire Scale Microgrids (“Scale” or the “Company”), a leading vertically integrated developer, acquirer, owner, and operator of microgrids and distributed energy resources for commercial & industrial, EV fleet, data center, municipal, university, hospital, and agricultural customers, developers and communities, from Warburg Pincus and other existing shareholders.
Headquartered in Ridgewood New Jersey, Scale’s portfolio consists of roughly 250 MWs of operating and in-construction assets, with another 2.5 GWs of near-term pipeline. Scale deploys a variety of technologies including solar, battery storage, natural gas generators, fuel cell and combined heat and power, and its portfolio represents one of the largest pure-play microgrid portfolios in the United States.
The transaction marks EQT’s first North American investment out of its recently launched Transition Infrastructure strategy, which is aimed at scaling businesses that enable the transition to clean energy and a more resource-efficient, circular economy. In December 2024, EQT announced the launch of the strategy and its inaugural investment in ju:niz Energy, a battery energy storage system developer and operator.
Jan Vesely, Partner and Head of EQT Transition Infrastructure, said: “We are thrilled that Scale Microgrids will become EQT Transition Infrastructure’s first investment in North America, underscoring our commitment to driving the energy transition globally and supporting a decarbonized and climate-resilient future while addressing the accelerated electricity demand in North America. We see enormous potential to accelerate Scale’s growth and establish it as one of the market’s leading vertically integrated energy companies.”
Ryan Goodman, CEO of Scale Microgrids, said: “Today marks the start of an exciting new chapter for our company. EQT brings a depth of experience, resources, and capital that will enable us to continue pursuing our vision to power the world with distributed energy. I’m incredibly proud of what our team has built, and believe this transaction will enable us to unlock even greater opportunities for the customers, employees, and communities we serve. We’re appreciative of our past shareholders, led by Warburg Pincus, for their support in helping us get to where we are today.”
Scale addresses several of today’s most pressing grid challenges, including rapid load growth from data centers and fleet electrification, power generation capacity constraints, and increased frequency of grid outages. Scale’s assets add resiliency to power systems, enable faster access to power relative to extended interconnection wait times, and provide cost savings and predictable power compared to the grid while advancing customers’ decarbonization and sustainability objectives.
Ryan Dalton, Managing Director at Warburg Pincus, said: “Scale has achieved incredible growth over the past five years, establishing a strong reputation as one of the leading providers of next generation power infrastructure. The Company has successfully grown to nearly 3 GW of operating, in-construction and near-term pipeline assets, closed multiple financings to fund future project development and maintains a strong customer base. We look forward to watching the Company’s next phase of growth with EQT, and continuing their mission to provide cleaner, cheaper and more reliable power.”
EQT brings a long-term strategic focus, deep experience in investing across the renewables infrastructure sector, and significant resources, and will focus on making strategic investments, including incremental capital, in Scale’s commercial processes, software systems, and project execution capabilities to continue to develop the business into a best-in-class, multi-technology energy services leader focused on the highest growth market segments, enabling Scale to own and operate billions of dollars in distributed generation assets.
The transaction is subject to customary conditions and approvals.
EQT was advised by Weil, Gotshal & Manges (legal) and Guggenheim Securities (financial). Scale Microgrids was advised by Latham & Watkins (legal), Nomura Greentech (financial), and Truist Securities (financial).
Contact
EQT Press Office, [email protected]
Warburg Pincus Press Office, Sarah Bloom, [email protected]
Scale Microgrids Press Office, Nicole Green, [email protected]
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/eqt/r/eqt-to-acquire-distributed-energy-company-scale-microgrids,c4089266
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View original content:https://www.prnewswire.co.uk/news-releases/eqt-to-acquire-distributed-energy-company-scale-microgrids-302347019.html
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