Bluesphere Ventures, a pioneering venture studio specializing in incubating environmental fintech ventures, announced its definitive agreement to acquire Climate Carbon, Canada’s leading broker of carbon and renewable energy credits.
This acquisition is expected “to reshape the industry and accelerate the global adoption of sustainable practices.”
Bluesphere’s Chairman, Shidan Gouran, expressed his excitement for the new venture.
Gouran stated:
“Our decision to acquire Climate Carbon was primarily driven by their unmatched market intelligence. Danny Takhar, along with his team of analysts, stands out as the most informed brokerage group in the industry. As clients of Climate Carbon, we have reaped considerable benefits from Danny and his team’s proficiency in price discovery and their expertise in analyzing offset projects. His deep understanding of the environmental credit sector is a significant asset, and we are thrilled to welcome him and his team.”
Danny Takhar, Climate Carbon’s principal, shared his enthusiasm for the acquisition.
Takhar said:
“With Bluesphere’s resources and commitment to sustainability, I am confident we can enhance our impact. This merger will propel us to new heights, enhancing carbon credit accessibility and promoting sustainability globally.”
Following the acquisition, the Bluesphere Carbon Exchange will be “assimilated into Climate Carbon and rebranded under the Climate Carbon brand.”
This move is “a crucial step in Bluesphere’s long-term strategy.”
Eddie Soleymani, Bluesphere’s CEO, explained the reasoning behind this strategy.
“The rebranding of the Bluesphere Carbon Exchange under the Climate Carbon name reflects our commitment to integrating and leveraging the best aspects of both entities. This acquisition represents more than a simple merger; it’s about creating a unified platform that combines the robust technologies and market reach of both companies, thereby propelling a new era of sustainable environmental credit trading.”
The deal is anticipated to close in the third quarter of 2023.
As noted in the update, Bluesphere Ventures claims it is “a pioneering venture studio committed to nurturing startups that generate carbon credits and environmental offsets.”
As mentioned in the announcement, Climate Carbon says it is “the leading independent Canadian environmental credit broker.”
