Sustainable infrastructure developer Generate Capital announced today that it has raised $1.5 billion in capital commitments from institutional investors and pension funds, with new investors including California State Teachers’ Retirement System (CalSTRS) and Australian superannuation fund HESTA, and returning investors including investors including QIC and AustralianSuper.
Founded in 2014, San Francisco-based Generate builds, owns, operates and finances sustainable resource infrastructure, with a focus key categories encompassing “Sustainable Power,” including areas such as energy efficiency and storage, fuel cells, green hydrogen, and solar; “Sustainable Mobility,” such as charging stations, electric and hydrogen vehicles, and sustainable fuels; “Sustainable Water & Waste,” including projects across biogas, RNG, precision agriculture, carbon capture and storage, and recycling, and; “Sustainable Cities.”
Since inception, Generate Capital has raised over $10 billion, helped to produce over 320GWh of sustainable power and process more than 715Kt in organic waste.
Generate Capital CEO and co-founder Scott Jacobs, said:
“We’re at an inflection point in the transition to a clean energy economy. While the window for action is getting smaller every day, we have the blueprints to build the critical infrastructure that will ensure a livable future. We need to invest trillions, not billions. Ten billion dollars is just a start.”
In addition to the new investment, Generate Capital also announced the launch of a strategic partnership with CalSTRS.
Kirsty Jenkinson, CalSTRS’ Director of Sustainable Investment and Stewardship Strategies, said:
“Our mission is to provide a secure retirement for California’s public educators and beneficiaries. Our strategic partnership with Generate Capital aligns with our mission to deliver superior financial returns for our portfolio while creating demonstrable positive outcomes for the environment and society.”