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Equatic Raises $11.6 Million to Remove Carbon, Produce Green Hydrogen from Seawater
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Climate tech startup Equatic announced that it has raised $11.6 million in a Series A funding round, with proceeds from the financing aimed at scaling up its seawater electrolysis technology enabling carbon removal and green hydrogen production. Founded in 2021, California-based Equatic has developed an electrolytic process for atmospheric carbon removal that accelerates the ocean’s…
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Blackstone Acquires Electrical Equipment Provider Shermco in $1.6 Billion Deal
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Alternative asset manager Blackstone announced announced an agreement to acquire Shermco, a provider of full lifecycle electrical equipment services, from Gryphon Investors, forming part of a continuing focus on energy transition and electrification opportunities.. The deal values Shermco at approximately $1.6 billion. Founded in 1974, Texas-based Shermco is one of the largest electrical testing organizations accredited…
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FCA Says Sustainability-Linked Loan Market Has Become More Mature, Credible
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The sustainability-linked loan (SLL) market has made progress towards addressing some of its key integrity and credibility issues, according to a new review by UK financial services regulator the Financial Conduct Authority (FCA), marking “important steps in the development of a credible transition finance ecosystem,” according to the regulator. The observations by the FCA follow…
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ECB President Warns Lawmakers Against Watering Down CSRD Sustainability Reporting Requirements
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Initiatives underway to reduce European sustainability reporting and due diligence reporting requirements could limit the European Central Bank’s capability to manage climate risk in the financial system, according to a letter sent by ECB President Christine Lagarde to European Parliament lawmakers. The letter comes as lawmakers prepare to debate the European Commission’s Omnibus I package,…
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California Climate Reporting Law Survives Court Challenge
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California’s new laws laws requiring large companies to disclose their value chain greenhouse gas emissions and report on climate-related risks survived another court challenge, with a U.S. District Judge denying a motion arguing that the laws violate First Amendment free speech rules. The motion marked the latest move by the U.S. Chamber of Commerce, alongside…