Climate Investment
Canvas Category Consultancy : Sovereign Wealth : National
CIF is one of the world’s largest multilateral funds helping low- and middle-income countries adapt to and mitigate climate change. Since 2008, it has been channeling funds from government donors and the private sector to support more than 360 projects in over 80 countries. Its launch emerged from recognition by world leaders that climate change and development are inextricably intertwined, and that climate-smart investment is needed at scale to deliver on the opportunities for green growth identified in the UN’s Sustainable Development Goals (SDGs). Working in partnership with governments, the private sector, civil society, local communities, and six major multilateral development banks (MDBs), CIF provides highly competitive financing that reduces risk for investors, lowering barriers to piloting new technologies, scaling up proven solutions, opening up sustainable markets, and mobilizing private sector capital for climate action. Rallying stakeholders behind increasingly ambitious climate goals and complementary action, CIF draws in diverse partners who might otherwise be deterred from investing alone.
Assembly Line
LuxWall Raises $51 Million Funding to Accelerate Decarbonization of Buildings
LuxWall, a leader in glass-based transparent insulation solutions to reduce energy consumption and carbon emissions from buildings, has closed a US $51 million Series B funding round led by Climate Investment and Barclays Sustainable Impact Capital. New investors Carbon Equity and The Nature Conservancy participated in the round alongside existing investors Breakthrough Energy Ventures, Prelude Ventures, 2150, Khosla Ventures, and Baruch Future Ventures.
The recent funding allows LuxWall to scale up production at its newly opened factory in Litchfield, Michigan, which received the support from Michigan Governor Gretchen Whitmer. It will also enable the construction and expansion of a second factory in Detroit, Michigan, as well as the growth of research and development at the R&D Center in Ypsilanti, Michigan. Alongside this Series B funding, LuxWall received a $31.7 million U.S. Department of Energy Manufacturing Efficiency and Supply Chain (MESC) grant to support the Detroit facility.
Gradient Comfort Raises Additional $9 Million in Series A Financing Led by Climate Investment
Gradient Comfort, a company built by thermal scientists to rethink heating, ventilation, air conditioning (HVAC) and build products that are good for the planet and great at cooling and heating homes, announced today that it closed a Series A follow-on round of funding of $9 million, bringing its total Series A funding to $27.5 million. The round is led by Climate Investment (“CI”), a specialist decarbonization climate investor. Cindi Bough, Managing Director Ventures at CI, will join the Gradient Comfort Board and Rick Cutright, Technology Director at CI will join as an observer.
Fero Labs Secures $15M to Reduce Manufacturing Emissions with AI
Fero Labs, an AI-driven manufacturing process optimization software company, today announced the close of a $15 million growth round led by Climate Investment (‘CI’, formerly OGCI Climate Investments), with additional participation from investors Blackhorn Ventures, Innovation Endeavors, and DI Technology. This round brings Fero Labs’ total funding to date to $30 million. Fero Labs is unique in the industrial space for using white-box AI, which reveals the reasoning behind its predictions. Unlike the black-box AI popularly seen in tools like ChatGPT, Fero Labs makes it possible for users to know if they can trust the results.