Wednesday, 4 August 2021, 1:59 pm
Climate Venture Capital Fund, New
Zealand’s only dedicated climate-change venture capital
fund, has made its first investment.
The New
Zealand-based fund invested in MGA Thermal, an Australian
clean energy company that uses state-of-art metallurgy to
create shoebox-sized composite blocks for storing renewable
energy.
“We are thrilled to make this investment,
not just because it’s our first, but because MGA Thermal
shows such promise,” says
Dr Jez Weston,
a partner in CVCF.
A trained metallurgist, Dr Weston
led CVCF’s investment process. “The company perfectly
fits our criteria, which is to deliver venture-level growth
and financial returns, alongside high emissions reductions.
MGA Thermal raises $8M AUD led by Main Sequence for its modular energy storage blocks – TechCrunch
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Wiscasset s Peregrine, partners plan Pittsfield project
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Coal-rich Hunter Valley ponders jobs future as Asian giants commit to net-zero carbon emissions
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Gerard Spinks and Carl Kirwin are not as worried about their own futures as those of their children and grandchildren.
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At the Lochinvar pub in the NSW Hunter Valley, a couple of power industry workers meet for a drink and ponder the future. Everybody s a bit nervous because we are very reliant about coal, coal-fired power, says Gerard Spinks, who has worked for 39 years in the power stations of the Upper Hunter. All of our other main industries are gone our steel, shipbuilding, rail, and textiles so all we ve got left is mining and power. Once that goes, we ve got no idea what the future holds.