CALGARY,
AB, June 26, 2024 /PRNewswire/ - Canada-based ClearSky Global Corp. (ClearSky)
has raised US$168 million from a
private international ESG investment group, facilitated by Tailwind
Ventures as financial advisor. The financing represents the
5th largest early-stage venture capital raise in the
clean fuels space globally1.
ClearSky plans to use the funding to deploy ECOGY® technology to
produce high-quality, low-carbon, and economically viable aviation
and transportation fuel.
This technology combines proprietary and commercially proven
technology to convert natural gas to both diesel and jet fuel that
ClearSky believes is of a superior quality compared to conventional
fuels. ClearSky fuels can be produced at a lower cost than biofuels
and refined petroleum fuels. The use of ClearSky fuels has the
potential to significantly reduce greenhouse gas (GHG) emissions,
and harmful particulate matter. ClearSky's facilities are modular
and compact with superior energy conversion technology, designed to
be placed at airports or other strategic locations.
This significant financial milestone will enable ClearSky to
commercialize its first three facilities, which will enable its
customers in multiple industries to accelerate their sustainability
goals and emissions-reduction targets. With this rapid deployment,
ClearSky believes that the impact of this technology will be
measurable in the near-term and stands to become a material
solution for emissions reduction once operational.
"This financing demonstrates that our investors
share our confidence in the transformative potential of ECOGY®
technology and our aggressive vision to operate across Canada and North
America. As the aviation, transport and heavy industries
seek reliable and cost-effective carbon-reducing technologies,
ClearSky offers an economically sustainable solution that can
deliver an immediate reduction in emissions."
- Timothy J.
Kozmyk, CEO, ClearSky Global
"We're pleased to have supported ClearSky in
securing the financing required to execute their growth plans in
North America and look forward to
a continuing partnership. Our capital partners recognize the
significant opportunity for ClearSky's ECOGY® technology to
make a major impact for the aviation and transportation
industries."
- Darren
Engels, CEO, Tailwind Ventures
"Alberta's
government in collaboration with Invest Alberta is proud of this
innovation driven forward by a Canadian company, headquartered in
Alberta. ClearSky's focus on the development of clean energy
makes them an important partner as the world moves to reduce
emissions. ClearSky's solutions to complex energy issues will help
lower global carbon levels while creating jobs and supporting the
economy."
- The Honourable Matt Jones, Minister of
Jobs, Economy and Trade
About ClearSky Global
ClearSky Global is a modern energy company that offers economic,
viable and responsible solutions deploying innovative technology
capable of providing a measurable reduction in GHG emissions, while
powering the modernization of the transportation industry. ClearSky
Global is based in Calgary,
Canada. Visit the ClearSky Global website for more
information.
About Tailwind Ventures
Tailwind is a Venture Development Bank™️ dedicated to preparing
early- and growth-stage ventures for investment and connecting them
with capital providers. Tailwind's proprietary programs enable
ventures to tell their story in the language of investors. Tailwind
Ventures is based in Calgary,
Canada. Visit the Tailwind Ventures website for more
information.
Forward-Looking Statements
Certain statements contained in this press release relate to
future events, conditions, or outcomes with respect to ClearSky's
business, its customers, the ECOGY® technology, and the broader
energy industry. All statements other than statements of historical
fact may be forward-looking statements and are often, but not
always, identified using words such as "believes", "seek", "plan",
"expect" and similar expressions.
This press release is for informational purposes only and
does not constitute an offer to sell, a solicitation of an offer to
buy, or a recommendation for any securities.
____________________________________
|
1 5th largest early-stage VC
raise in the clean fuels space, all-time, globally; based on
Pitchbook data as of June 13, 2024.
|
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SOURCE Tailwind Ventures Inc.