By Sudip Kar-Gupta
BRUSSELS (Reuters) – Junction Growth Investors, an investment firm that finances companies involved in tackling climate change, said on Tuesday it had raised 115 million euros ($119.8 million), highlighting resilient investor appetite in the sector.
Even as President Donald Trump ordered the United States to withdraw from the Paris climate agreement, many funds are still investing in green energy, with Norway’s $1.8 trillion wealth fund last month expressing its commitment to renewable energy.
Junction Growth Investors, which is based in Belgium, said firms that participated in its fund-raising included Keeling Capital, BNP Paribas Fortis Private Equity, the EU’s European Investment Fund and the Belgian Growth Fund.
Companies backed by Junction Growth Investors include Belgian grid firm Ampacimon and Portuguese firm Eneida, which develop grids aiming to result in low-emission neighbourhoods.
“Climate change continues to advance, leaving tangible impacts on societies and personal wealth. However, the energy transition is not solely about combating climate change,” said Dirk Dewals, managing partner at Junction Growth Investors.
“It also presents a pivotal opportunity for Europe to reduce its dependence on geopolitically sensitive carbon fuels and to build a couple of European technology leaders with global reach such as Ampacimon, which has 50 percent of its order book in the United States,” he added.
($1 = 0.9601 euros)
(Reporting by Sudip Kar-Gupta; Editing by Kim Coghill)
