Generate Closes $2 Bn Equity Raise from Global Institutional Investors to Scale Sustainable Infrastructure Deployment

Generate has raised $2 billion in corporate equity from some of the world’s leading institutional investors to accelerate the deployment of sustainable infrastructure.

July 20, 2021. By News Bureau

Generate, a leading sustainable infrastructure company, has raised $2 billion in corporate equity from some of the world’s leading institutional investors to accelerate the deployment of sustainable infrastructure.
Existing investors AustralianSuper and QIC led the fundraising round with new investment from Harbert Management Corporation, Aware Super, and CBRE Caledon.
The fundraising tapped many of the world’s largest long-term oriented pension funds and institutional investors from Australia, the U.S., and Europe, including additional commitments from existing investors AP2 of Sweden, Railways Pension of the UK and The Wellcome Trust.

The new equity infusion makes Generate one of the most well-capitalized sustainability-focused enterprises in the world and will allow it to continue expanding its reach into new sectors and regions to meet rising demand for sustainable infrastructure.

“Generate is purpose-built to deploy sustainable infrastructure at scale and we are thrilled to reach this milestone that builds on our strong track record and enables our next phase of growth,” said Scott Jacobs, chief executive and co-founder of Generate. “Successful infrastructure projects require a long time horizon, dedicated operational expertise and a commitment to deliver returns for all of the many stakeholders involved in infrastructure. The urgent need to deploy proven climate solutions and get the world to a Net Zero pathway has never been greater. We are grateful to have a truly values-aligned set of investors committed to our mission of rebuilding the world.”

Generate has accelerated its business over the past year, despite a global pandemic and economic uncertainty, doubling staff across all business lines to meet this unprecedented opportunity in sustainable infrastructure. The company recently launched its Generate Credit Unit dedicated to creating more credit solutions for green projects and companies, and geographic expansion beyond North America is also underway.

“Generate is a market leader, with an innovative business model that successfully leverages growing global demand for sustainable infrastructure solutions. Investing in Generate provides both an attractive investment return for our members and fosters the development of new sustainability focused technology which is making a real impact on the global transition to clean energy,” said AustralianSuper Head of Infrastructure Nik Kemp.

Added Ross Israel, Head of Global Infrastructure at QIC: “We are very pleased to continue partnering with Generate as it grows its sustainable infrastructure platform across power, mobility, waste, and water. This follow-on investment reinforces QIC’s sector-centric, thematic-based investment strategy across energy transition, decarbonization, and distributed infrastructure. We look forward to further leveraging our infrastructure sector expertise to accelerate the expansion of Generate’s high-quality platform across dynamic and rapidly growing markets for its customers.”
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