Keeling Capital

The International Energy Agency (IEA)'s Electricity 2025 report just dropped. Some quick takeaways: - Global electricity growth is accelerating - 4.3% last year vs 2.5% in 2023 and expected to keep a 4% pace between now and 2027, adding 3,500 TWh per year or the equivalent of Japan. - Renewables are expected to meet 95% of demand growth (which implies no fall in power sector emissions on a global basis if true - let's hope the IEA keeps its form on underestimating the pace of solar...) - China - continued rapid electrification as electricity consumption continues to rise faster than GDP. This is driven mostly by the industrial sector and, within that, low carbon manufacturing. Production of solar PV, EVs and batteries in China use the equivalent of Italy's electricity consumption. Whilst everyone is losing their minds over a 2% increase in electricity demand in the US last year, China's demand grew by 7%. - Europe - You can see the stagnation in the stats with electricity demand barely expected to recovery to 2021 levels by 2027 due to falls in industrial use. Electricity prices for industry were, on average, double that of the US. - AC in India - growth in air conditioning could see it contribute 1/3 of peak demand and 140GW by 2030. Already, each 1 degree increase in temperature represents an additional 7GW of demand through cooling. https://lnkd.in/ea948zsk?

Antwerp-based Junction Growth Investors today announced the successful closing of its first fund at €115 million, surpassing its initial target of €100 million ???? ?? The fund is backed by a series of large family offices as well as well-known technology entrepreneurs, Jan-Willem Rombouts, Gregoire de Streel and Jean-Guillaume Zurstrassen amongst others. Most recently, the global specialist investment Fund of Funds (FoFs) Keeling Capital amongst others decided to join the capital. Through its FoFs, Keeling sources, selects, and underwrites leading managers dedicated to climate technology. Also major institutional investors such as the European Investment Fund (EIF), BNP Paribas Fortis Private Equity, PMV and Belgian Growth Fund are among the fund’s investors. The fund was supported by Argo Law and Private CFO advisory, amongst others. Dirk Dewals, Managing Partner at Junction said: “Climate change continues to advance, leaving tangible impacts on societies and personal wealth. However, the energy transition is not solely about combating climate change. 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% of its order book in the USA. We firmly believe that electrification, particularly in the B2B sector, will play a crucial role in driving this shift, and we are actively seeking enablers to accelerate this revolution.” https://lnkd.in/d5DfyPze

?? Announcing Energize’s investment in Tyba’s $14M Series A! Meet Tyba, the energy storage optimization platform that enhances the profitability of battery storage. Tyba helps developers, owners, and operators to optimize their assets, improve their projects, and realize greater returns. Grid decarbonization is a massive opportunity, and as we've written in the past, no clean energy transition is possible without a robust energy storage infrastructure. But with increasingly variable energy sources, greater market competition and changing load patterns, batteries are becoming increasingly complicated to deploy effectively and profitably. That's where Tyba comes in, enabling owners to configure, test and deploy automated bidding and real-time optimization strategies, as well as run scenario analysis and backtesting to improve asset structure and placement. ?? For the energy transition to happen, we don't just need energy storage. We need the tools to make sure storage is managed correctly. Congratulations to founders Michael Baker, Tom Thunell, and Tyler Nisonoff on this exciting accomplishment! Read more about our investment here: https://lnkd.in/dhZMFMKC

Hats off to Gigablue for the inking of a 200,000-ton carbon removal agreement with sustainable aviation ??? investor SkiesFifty – showing significant progress in bringing their technology to market since we backed them last year. See Axios story: https://lnkd.in/dMG6CqRk Gigablue uses a novel substrate, consisting of a contained nutrient shell and a gravity-controlling core, that acts as the optimal environment for local phytoplankton to grow and thrive. ?? ? Once the phytoplankton multiply and reach a sufficient amount, the controlled sinking trigger activates, and the substrate, together with the attached carbon, sinks to the bottom of the ocean ?? for permanent storage. So, using nothing more than ?? sunlight, water, and gravity, Gigablue can safely and efficiently store carbon dioxide at a gigaton scale – and is indeed on a path to remove a gigaton of carbon dioxide by 2035. At our last #AGM we put samples of Gigaton's substrate out on the tables for attendees to see and touch in person... see photos below. #carbonremoval #naturetech #climate