acquire and operate a business in industries that may provide opportunities for attractive risk-adjusted returns in one of the multiple sectors that may advance the objectives of global decarbonization. This includes the energy and agriculture, industrials, transportation and commercial and residential sectors. We believe these areas of focus represent a favorable and highly fragmented market opportunity to consummate a business combination.
The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors. These include the energy and agriculture, industrials, transportation and commercial and residential sectors.
Robert Tichio, Chairman of the Company’s Board and a Partner at Riverstone, said, “We are excited to announce this important milestone, and we are grateful for the support received from a broad group of investors who share our commitment to identifying a differentiated private company that is helping the world move toward a low-carbon future. There is tremendous potential for the environment and investors alike, as a multitude of industries are actively seeking ways to reduce their carbon footprint. Significant pools of capital are beginning to form and investor interest will be redirected towards these critical and innovative initiatives well into the future.”
Mr. Tichio continued, “On behalf of the Board, we are very pleased to have Erik Anderson serve as Chief Executive Officer of the Company. Erik’s leadership, skills and experience as both an entrepreneur and an investor in the innovation economy will provide the Company access to the disruptive thinking that has the potential to scale up solutions for climate change.”
Erik Anderson, Chief Executive Officer, said, “Today begins a new chapter with a clear vision, to pursue scalable solutions to decarbonize the global economy. With our truly diverse Board, comprised of talented and accomplished investors, academics and entrepreneurs, our Company is ideally situated to identify a superb, impactful company with which to consummate a transaction and to accelerate a low-carbon future. We are eager to get to work on behalf of our stockholders, and look forward to building a company founded on purpose.”
Pierre Lapeyre, Jr. and David Leuschen, Co-founders of Riverstone, said, “Decarbonization Plus Acquisition Corporation represents a further expansion of our 15-year franchise in low-carbon investments. During that time, we have established a number of industry leading companies of scale and numerous related projects, with more than $5 billion of equity to date. The IPO adds to the breadth of Riverstone’s efforts and underscores the support from long-term and new investors. We believe that decarbonization will be a multi-decade investment megatrend and that Riverstone is well positioned, with deep experience, to make a significant impact for the environment and our investors. Having raised $1.4 billion in new capital across our low-carbon portfolio this year alone, we are actively furthering our efforts to address climate change with this new investment.”
Citigroup and Credit Suisse acted as joint book running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the IPO price. Alvarium MB (UK) Limited provided certain financial consulting services in connection with the offering.
The offering was made only by means of a prospectus, copies of which may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, at 1-800-831-9146 or by email at Prospectus@citi.com or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, 3rd floor, New York, NY 10010, by telephone at 1-800-221-1037, or by email at email@example.com. A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 19, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Erik Anderson
Erik Anderson is a leader in global innovation recognized throughout his career for his business acumen and leadership. As the Founder and Chief Executive Officer of WestRiver Group (WRG), Anderson is redefining the paradigm of capital allocation with a transformative business model. The equity platform is led by gender-balanced teams, which empirical evidence suggests is correlated with better returns.
Anderson is a dynamic entrepreneur who challenges and disrupts industries. He has received the Ernst & Young Entrepreneur of the Year Award, was named by Goldman Sachs as one of the Top 100 Most Intriguing Entrepreneurs and was awarded the Transformative CEO Award by The CEO Forum Group. Early in his career, Seattle’s Puget Sound Business Journal recognized Anderson as one of the top “40 under 40” young achievers and emerging leaders. Erik is currently Executive Chairman of Singularity University and Topgolf Entertainment Group. In 2019 and 2018 he was ranked by Golf Inc. as the No. 3 Most Powerful Person in the golf industry.
Erik holds a master’s and bachelor’s degree in Industrial Engineering from Stanford University and graduated cum laude with a bachelor’s degree in Management Engineering from Claremont McKenna College.
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with over $40 billion of equity capital raised to date. Riverstone conducts buyout, growth capital, and credit investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. With offices in New York, London, Houston, Menlo Park, Mexico City and Amsterdam, the firm has committed over $41 billion to more than 195 investments in North America, South America, Europe, Africa, Asia, and Australia.
Some folks were thinking
Which looks cool but seems to early, to small ?
FreeWire has deployed over 200 battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. The company intends to deploy more than 2,500 ultrafast charging stations by 2025
The round brings the six-year-old company’s total venture funding to nearly $100 million.
So it was led by riverston but also these bros are in too
About Energy Innovation CapitalEnergy Innovation Capital is the premier capital provider for innovators serving the energy industry. EIC provides early and growth-stage funding for visionary entrepreneurs tackling global energy challenges with transformative, market-leading solutions. EIC’s team leverages our industry expertise, networks and collaborative approach to help talented entrepreneurs push the boundaries of what’s possible and build great companies. To learn more, visit www.energyinnovationcapital.com
We can now look at other investments for some idea’s other directions they might go