Lowercarbon Capital reposted this
Today, we announced that a group of the nations largest developers have invested in Crux. The investment by Clearway Energy Group, EDF Renewables North America, Pattern Energy Group, and Intersect Power completes our recent fundraise led by Andreessen Horowitz. Why it matters: 🔥 𝐖𝐞 𝐡𝐚𝐯𝐞 𝐭𝐡𝐞 𝐟𝐢𝐫𝐞𝐩𝐨𝐰𝐞𝐫 𝐭𝐨 𝐛𝐮𝐢𝐥𝐝. Crux has raised over $27 million in venture and strategic capital. We've doubled the team since the beginning of the year and we're still #hiring. We've now done deals in solar, wind, battery storage, bioenergy, and advanced manufacturing. Buyers include everyone from family offices to the Fortune 100. 👊 𝐖𝐞 𝐡𝐚𝐯𝐞 𝐭𝐡𝐞 𝐫𝐢𝐠𝐡𝐭 𝐩𝐞𝐨𝐩𝐥𝐞 𝐚𝐫𝐨𝐮𝐧𝐝 𝐭𝐡𝐞 𝐭𝐚𝐛𝐥𝐞. Our investor group -- which also includes Ørsted, LS Power, and Hartree Partners -- has more than 100 GW of pipeline. As Hunter Armistead put it: "Crux's platform is a game-changer for financing clean energy projects. It allows us to maximize the current tax monetization market by streamlining transactions and managing transferable tax credits". 🌊 𝐀𝐝𝐝𝐢𝐧𝐠 𝐝𝐞𝐩𝐭𝐡 𝐨𝐧 𝐚𝐥𝐥 𝐬𝐢𝐝𝐞𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭. Clean energy investment is accelerating, with a record $71 billion in clean energy and transportation investments in the first quarter of this year alone, a 40% increase from the same period in 2023. The policy is working. But, to maintain our rapid pace, we need more developers and manufacturers, more innovation, more expert advisors, and thousands more buyers. To meet this need, we'll make even more investments in our software, team, and market leading content. 📈 𝐖𝐞'𝐥𝐥 𝐛𝐮𝐢𝐥𝐝 𝐚 𝐦𝐨𝐫𝐞 𝐦𝐚𝐭𝐮𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭, 𝐧𝐨𝐰. When new asset types are created and grow larger they typically evolve to become more standardized, efficient, liquid, broad-based, and transparent. That is often a long process. But, we don't have the time for that. We'll use our capital to invest in liquidity and efficiency. ⚡ 𝐁𝐞𝐭𝐭𝐞𝐫 𝐩𝐥𝐚𝐭𝐟𝐨𝐫𝐦 = 𝐛𝐞𝐭𝐭𝐞𝐫 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬. Our software is already significantly enhancing price discovery, matching, and closing. More embedded diligence tools and data will allow our partners to do more deals faster. One recent deal between a large seller and F100 buyer closed in 22 days. We now have more than 50 intermediary partners (banks, tax advisors, and syndicators) that use our tools to source deals and transact more efficiently. For more details, check out the full story on Heatmap News here. https://lnkd.in/gFSjPvEC
Congratulations on this monumental achievement! 🌟 It's amazing to see Crux's transformative impact on clean energy financing. What excites you the most about the future with this incredible supporter lineup and growth trajectory? 🚀
Congrats! This is the type of investments that we need to see to transform our energy markets.
Love what you all are doing. The potential impact is massive!
Very impressive!
Great news! This is really going to help unlock the value of renewable tax credits.
Amazing Alfred Johnson !
Incredible to see all of the momentum and continued success!
Congratulations Alfred Johnson
Congratulations Alfred Johnson !
Placing Top Talent @ Early Stage Climate Startups for a Fraction of the Cost //AND// Co-Hosting CleanTechies Podcast🎙️
1moWoohoo! 🚀 Save some cash on your recruiting costs. With ErthTech Talent a Series A company pays 15% fee. (hard to justify paying ~20-25% when this offer exists... 🤷♂️) Congrats on this big moment - now let's help you get the right people in place 🤝 silas@erthtechtalent.com