CPE News (3.21.2023) – ClearBlue Markets Holding has raised $8 million as part of its Series A financing led by Royal Bank of Canada (RBC) with participation from existing investor CRCM Ventures.
Led by CEO Michael Berends, Carbon CIO Michiel Ten Hoopen, CTO Nicolas Girod, COO Fiona Oliver-Glasford, Toronto based ClearBlue Markets provides carbon markets services to hundreds of clients worldwide, helping them optimize their strategies for compliance requirements and voluntary net zero ambitions through its deep advisory expertise and AI enabled technology. The company is headquartered in Canada with a European office in the Netherlands, and offers a range of services, including market analysis, capacity building, carbon strategy, and transaction facilitation.
The new investment will deepen ClearBlue Markets experience in financial markets and is aligned with RBC’s climate strategy of supporting its clients in the transition to net zero.
photo credit: ClearBlue Markets, Michael Berends, Nicolas Girod, Fiona Oliver-Glasford, Michiel Ten Hoopen
CLEARBLUE MARKETS ANNOUNCES ROYAL BANK OF CANADA AS MINORITY INVESTOR AS PART OF SERIES A FINANCING
Financing led by RBC with participation from existing investor CRCM Ventures provides capital to help support the growth of ClearBlue Market’s technology platform
TORONTO, March 21, 2023 /CNW/ – ClearBlue Markets Holding (“ClearBlue Markets”), a leading global carbon markets company, announced it has raised $8 million as part of its Series A financing led by Royal Bank of Canada (“RBC”). The investment will deepen ClearBlue Markets experience in financial markets and is aligned with RBC’s climate strategy of supporting its clients in the transition to net zero.
ClearBlue Markets provides carbon markets services to hundreds of clients worldwide, helping them optimize their strategies for compliance requirements and voluntary net zero ambitions through its deep advisory expertise and AI enabled technology. The company is headquartered in Canada with a European office in the Netherlands, and offers a range of services, including market analysis, capacity building, carbon strategy, and transaction facilitation. Today, it boasts an impressive 200+ client portfolio that spans local, multinational, and blue-chip companies, including CRH, Mercuria, JD Irving, Bain Capital Partnership Strategies, Mitsubishi, Energir and VARO Energy.
“Purpose-driven investments, like the one by RBC, are central to ClearBlue Markets as we expand. They extend our reach and scale beyond what we could do alone and this helps our clients succeed in environmental markets,” said Nicolas Girod, Co-Founder and Chief Technology Officer, ClearBlue Markets. “This strategic investment will unlock capital to double down on technology and see more clients confidently achieve their carbon reduction and net zero ambitions.”
RBC supports some of Canada’s most innovative companies. Leveraging its platform to support businesses of all sizes and stages, it delivers experience, networks, and capital to help solve some of the biggest challenges our communities and economies face.
“RBC recognizes that climate change is a global challenge, and companies like ClearBlue Markets can play an important role in addressing it effectively,” says Barrie Laver, Managing Director, Head of Venture Capital & Private Equity, RBC. “Adding ClearBlue Markets and its technology platform to our portfolio is aligned with RBC’s climate strategy and will in turn provide our clients with additional access to advisory services and technology needed to support their transition to a more sustainable future.”
Investment dollars are earmarked for enhanced usability of ClearBlue Market’s existing technology platform and expanded functionality of carbon market enablement tools that build off ClearBlue Markets’ supply-demand and price outlooks across the carbon and environmental markets, deep regulatory and policy insights, offset development work, and transaction facilitation expertise. The new funding, combined with its internal team of experts, has meant an accelerated roadmap for ClearBlue Markets to help more clients in more places.
ClearBlue Markets also announced the appointment of Mr. Bill Morris to its Board of Directors. As the former CEO of Accenture Canada, Mr. Morris has an undeniable track record of scaling and transforming businesses. He currently serves as an Advisor to the Nature Conservancy of Canada and sits on the Board of Directors for Boreal Carbon Corporation. Additionally, Mr. Morris’ experience in both environment and carbon markets will be instrumental as ClearBlue Markets continues to expand globally.
“We believe that one tonne of carbon dioxide reduced, avoided, or sequestered contributes to the fight against climate change in meaningful and measurable ways,” said Michael Berends, Co-Founder and Chief Executive Officer, ClearBlue Markets. “Continued alignment and investments from key players, like RBC, will drive transparency and confidence in compliance and voluntary carbon markets worldwide for more effective emission pricing and reductions. The future is bright for ClearBlue Markets, its client base, and the global carbon market.”
ClearBlue Markets has received multiple awards for its advisory, market analysis, and offset development services including the coveted 2022 Environmental Finance Voluntary Carbon Markets Award for Best Advisor. To learn more about investment opportunities with ClearBlue Markets, please visit www.clearbluemarkets.com.
About ClearBlue Markets
ClearBlue Markets is a technology-enabled carbon markets company simplifying and creating confidence for companies when they access environmental financial markets to meet carbon compliance or net zero goals. Through ClearBlue’s deep practical expertise and integrated set of products and solutions – including carbon compliance and offset strategy development, carbon market policy and risk assessments, demand and supply analysis and price forecasting for offsets, carbon credits and renewable energy credits, transaction facilitation, and offset development – our clients confidently achieve their carbon reduction and net zero ambitions.
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 95,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
SOURCE ClearBlue Markets
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