Financing led by RBC with participation from existing investor CRCM Ventures provides capital to help support the growth of ClearBlue Market’s technology platform.
TORONTO, March 21, 2023 - ClearBlue Markets Holding ("ClearBlue Markets"), a leading global carbon markets company, announced 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 experience 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 worldwide, helping them optimize their strategies for compliance requirements and voluntary net zero ambitions through its deep advisory expertise and AI enabled technology. The company is headquartered in Canada with a European office in the Netherlands, and offers a range of services, including market analysis, capacity building, carbon strategy, and transaction facilitation. Today, it boasts an impressive 200+ client portfolio that spans local, multinational, and blue-chip companies, including CRH, Mercuria, JD Irving, Bain Capital Partnership Strategies, Mitsubishi, Energir, and VARO Energy.
"Purpose-driven investments, like the one by RBC, are central to ClearBlue Markets as we expand.
They extend our reach and scale beyond what we could do alone and this helps our clients succeed in environmental markets," said Nicolas Girod, Co-Founder and Chief Technology Officer, ClearBlue Markets. "This strategic investment will unlock capital to double down on technology and see more clients confidently achieve their carbon reduction and net zero ambitions."
RBC supports some of Canada's most innovative companies. Leveraging its platform to support businesses of all sizes and stages, it delivers experience, networks, and capital to help solve some of the biggest challenges our communities and economies face.
"RBC recognizes that climate change is a global challenge, and companies like ClearBlue Markets
can play an important role in addressing it effectively," says Barrie Laver, Managing Director, Head of Venture Capital & Private Equity, RBC. "Adding ClearBlue Markets and its technology platform to our portfolio is aligned with RBC's climate strategy and will in turn provide our clients with additional access to advisory services and technology needed to support their transition to a more sustainable future."
Investment dollars are earmarked for enhanced usability of ClearBlue Market's existing technology platform and expanded functionality of carbon market enablement tools that build off ClearBlue Markets' supply-demand and price outlooks across the carbon and environmental markets, deep regulatory and policy insights, offset development work, and transaction facilitation expertise. The new funding, combined with its internal team of experts, has meant an accelerated roadmap for ClearBlue Markets to help more clients in more places.
ClearBlue Markets also announced the appointment of Mr. Bill Morris to its Board of Directors. As the former CEO of Accenture Canada, Mr. Morris has an undeniable track record of scaling and transforming businesses. He currently serves as an Advisor to the Nature Conservancy of Canada and sits on the Board of Directors for Boreal Carbon Corporation. Additionally, Mr. Morris' experience in both environment and carbon markets will be instrumental as ClearBlue Markets continues to expand globally.
"We believe that one tonne of carbon dioxide reduced, avoided, or sequestered contributes to the fight against climate change in meaningful and measurable ways," said Michael Berends, Co-Founder and Chief Executive Officer, ClearBlue Markets. "Continued alignment and investments from key players, like RBC, will drive transparency and confidence in compliance and voluntary carbon markets worldwide for more effective emission pricing and reductions. The future is bright for ClearBlue Markets, its client base, and the global carbon market."
ClearBlue Markets has received multiple awards for its advisory, market analysis, and offsetdevelopment services including the coveted 2022 Environmental Finance Voluntary Carbon Markets Award for Best Advisor.
Interested in learning more about ClearBlue Markets? Subscribe to one of our free newsletter trials here, or email Fiona Oliver-Glasford at foliverglasford@clearbluemarkets.com to learn more about investment opportunities with ClearBlue.