RBC-led funding with participation from existing investor CRCM Ventures provides capital to help support the growth of ClearBlue Market’s technology platform
TORONTO, March 21, 2023 /PRNewswire/ — ClearBlue Markets Holding (“ClearBlue Markets”), a leading global carbon markets company, has announced that 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’ expertise 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 around the world, helping them optimize their strategies to meet voluntary net-zero emissions requirements and ambitions through its deep advisory expertise and AI-powered technology. The company is headquartered in Canada with a European office in the Netherlands, and offers a wide range of services including market analysis, capacity building, carbon strategy, and transaction facilitation. Today, it has an impressive portfolio of more than 200 clients spanning local, multinational and blue chip companies including CRH, Mercuria, JD Irving, Bain Capital Partnership Strategies, Mitsubishi, Energir and VARO Energy.
“Specific purpose investments, such as RBC’s, are critical to ClearBlue Markets as we expand. They extend our reach and scale beyond what we could do alone, helping our clients succeed in environmental markets.” said Nicolas Girod, co-founder and CTO of ClearBlue Markets. “This strategic investment will unlock capital to double down on the technology and see more customers confidently achieve their net zero emissions and carbon reduction ambitions.”
RBC supports some of Canada’s most innovative companies. Leveraging its platform to support businesses of all sizes and stages, it offers experience, networks, and capital to help solve some of the biggest challenges facing our communities and economies.
“RBC recognizes that climate change is a global challenge, and that companies like ClearBlue Markets can play an important role in addressing it effectively,” said Barrie Laver, Managing Director, Head of Venture Capital and Private Equity at RBC. . “The addition of ClearBlue Markets and its technology platform to our portfolio is aligned with RBC’s climate strategy and, in turn, will provide our clients with additional access to the advisory services and technology necessary to support their transition to a future more sustainable.”
The investment money is spent on improving the usability of ClearBlue Market’s technology platform and extending the functionality of carbon market enablement tools, which are based on ClearBlue Markets’ supply-demand and pricing insights into the markets. carbon and environmental issues, in-depth regulatory and policy knowledge, offset development work and transaction facilitation experience. The new funding, combined with its in-house team of experts, has provided an accelerated roadmap for ClearBlue Markets to help more customers in more places.
ClearBlue Markets also announced the appointment of Bill Morris as a member of its Board of Directors. As the former CEO of Accenture Canada, Morris has an undeniable track record of growing and transforming companies. He is currently an advisor to the Nature Conservancy of Canada and sits on the Board of Directors of the Boreal Carbon Corporation. In addition, Morris’ experience in the environmental and carbon markets will be critical to the global expansion of ClearBlue Markets.
“We believe that one ton of carbon dioxide reduced, avoided or sequestered contributes to the fight against climate change in a significant and measurable way,” said Michael Berends, co-founder and CEO of ClearBlue Markets. “Continued alignment and investments from key players such as RBC will drive transparency and confidence in compliance and voluntary carbon markets around the world for more effective pricing and emission reductions. The future is bright for ClearBlue Markets, its customer 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, visit www.clearbluemarkets.com.
About ClearBlue Markets
ClearBlue Markets is a carbon markets technology company that makes it easy and builds confidence for companies to access environmental financial markets to meet their carbon emissions or net zero emissions targets. Leveraging ClearBlue’s deep know-how and integrated suite of products and solutions – including development of carbon offsetting and compliance strategies, carbon market risk and policy assessments, demand and supply analysis and pricing forecasting of offsets, carbon credits and renewable energy credits, transaction facilitation and offset development – our clients confidently achieve their net-zero and carbon emission reduction targets.
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About RBC
Royal Bank of Canada is a global financial institution with a principled, results-driven approach. Our success is due to the more than 95,000 employees who use their imagination and knowledge to bring our vision, values ??and strategy to life to help our customers and our communities prosper. As the largest bank in Canada and one of the largest in the world by market capitalization, we have a diversified business model focused on innovation and delivering exceptional experiences to our 17 million customers in Canada, the United States and 27 other countries. Learn more at rbc.com. We are proud to support a wide range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
General inquiries: Fiona Oliver-Glasford, foliverglasford@clearbluemarkets.com, (416) 986-3948; Media inquiries: Alessandra Seca, Blue Door Agency, alessandra@bluedoor.agency, (647) 294-4657; Andrew Block, Royal Bank of Canada, andrew.block@rbc.com
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