Riverstone makes decarbonisation acquisition
Riverstone Energy announced an investment of up to $0.6m (£0.43m) in Decarbonization Plus Acquisition Corporation IV (DCRD) on Friday.
The London-listed firm described DCRD as a special purpose acquisition vehicle sponsored by an affiliate of its investment manager, which was seeking to capitalise on the Riverstone platform to identify, acquire and operate a business in industries that could provide opportunities for “attractive risk-adjusted returns” in one of the number sectors focussed on global decarbonisation.
That included the energy and agriculture, industrials, transportation and commercial and residential sectors, the board said.
“Riverstone Energy is a closed-ended investment company that invests exclusively in the global energy industry across all sectors,” the board explained in its statement.
“REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform.”
The firm has 13 active investments spanning decarbonisation, oil and gas, renewable energy and power in the continental United States, western Canada, the Gulf of Mexico, and Europe.
At 1404 BST, shares in Riverstone Energy were down 0.67% at 393.36p.