The Arab Energy Fund, previosuly known as APICORP, has established the TAEF Hartree Cleantech LP, a $120 million limited partnership (LP) established in collaboration with Hartree Partners, an international energy and commodities company. The partnership reinforces the Fund’s position as a leading regional impact investor, committed to promoting energy objectives in member nations.
A New Platform for Decarbonization Technologies
Incorporated in the UK, the LP uses proprietary market insights and detailed research to identify and support entrepreneurs in the decarbonization sector. The platform invests in VC-stage companies to develop both physical and digital technologies that drive decarbonization and sustainability. It will also provide valuable support to businesses driving the energy transition and building sustainable energy solutions.
Hartree Partners’ Cleantech Expertise
Since 2020, Hartree Partners, a global leader in energy and commodities trading, has been making strides in the cleantech sector through its subsidiary, Vertree Partners. Vertree has focused on carbon market-related investments, industrial decarbonization solutions that are scalable, and value chain of energy transition.
Hartree’s portfolio constitutes businesses operating in industrial decarbonization, emissions verification, geospatial data analytics, and climate change adaptation technologies. The new partnership will integrate these investments, enhancing its overall impact.
Khalid Ali Al-Ruwaigh, CEO of the Arab Energy Fund, stated that the initiative aligns with their strategy to support the energy ecosystem through debt and equity solutions. He added that it advances their member countries’ energy agendas by promoting the development of local energy value chains in the MENA region and beyond.
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Portfolio of Investments
The partnership manages a portfolio of 10 cleantech companies, with past investments from BlackRock, Microsoft, and Union Square Ventures. These investments will expedite the growth of decarbonization technologies, furthering the mission of both the Arab Energy Fund and Hartree Partners in driving the global transition to a low-carbon economy.
The Arab Energy Fund and Hartree Partners aim to expand their reach and scale impact within the cleantech sector. The collaboration aims to invest in innovative companies, driving transformative changes and advancing the global cleantech ecosystem.