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.

GE Vernova Inc. and Amazon Web Services (AWS), a subsidiary of Amazon, have established a strategic framework agreement (SFA) to support in expanding AWS’s global data centers. The collaboration aims to boost energy consumption, strengthen grid security, and advance decarbonization efforts in electric power systems.

Collaborating towards a Sustainable Future

The new deal will see GE Vernova supply energy solutions to AWS for the purpose of electrifying and decarbonizing data centers all over the world. GE Vernova will deliver turnkey substation solutions to AWS to facilitate seamless connectivity between AWS data centers and the grid. This will include the development of critical electrical infrastructure and providing project management and construction assistance for multiple AWS data center locations. Additionally, the engineering teams of both companies will collaborate to streamline the design and delivery of substation systems.

Growing Renewable Energy and Innovation

Under the collaboration, GE Vernova will also help AWS develop renewable energy projects, specifically for onshore wind project commercialization. As part of renewable energy endeavors, GE Vernova and AWS will also seek additional opportunities for GE Vernova to provide power generation equipment and services to AWS. The partnership will promote innovation, research, and financing for the energy transition through GE Vernova’s accelerator businesses, such as research and consulting services.

Pablo Koziner, Chief Commercial Officer of GE Vernova,stated that the collaboration with AWS to advance their computing capabilities and data center capacity is a great opportunity. He stated that GE Vernova, with its wide range of energy products and services, is well positioned to help AWS secure reliable, cost-effective, and sustainable electricity for its data centers, supporting their growth objectives. He also acknowledged the value of working strategically with a company that embraces innovative solutions and strong collaboration.

Cloud Collaboration to Drive Digital Transformation

Additionally, AWS will help GE Vernova with cloud migration, using AI and HPC to improve systems, processes, and sustainability efforts. This partnership will optimize development cycles, scale operations, and improve efficiencies.

AWS and GE Vernova will also investigate new ways to collaborate in AI, big data, and data analytics to foster innovation. This partnership will support GE Vernova’s operational goals and enhance digital processes through AWS’s scalable, flexible cloud infrastructure.

Also read: GE Vernova announces milestone gas turbine and services deal for Saudi Arabian Power Expansion

Supporting the Energy Sector with Digital Solutions

The collaboration includes AWS supporting GE Vernova’s Electrification Software, deploying tools like GridOS and Asset Performance Management on the cloud. These solutions, hosted on AWS Cloud, aim to enhance the efficiency and reliability of energy infrastructure for utilities and industrial sectors.

This agreement strengthens past collaborations, with GE Vernova’s software solutions already hosted on AWS Cloud for improved operations. These collaborations help electric utilities, energy organizations, and manufacturers achieve more sustainable and efficient operations.