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 the California State Teachers' Retirement System (CalSTRS) and the Australian superannuation HESTA, and recurring investors, including investors including QIC and Australian Super.
Founded in 2014, San Francisco-based Generate builds, owns, operates and finances sustainable resource infrastructure, focusing on core categories encompassing “Sustainable Energy,” including areas such as energy efficiency and storage, fuel cells, green hydrogen and solar energy; “Sustainable Mobility”, such as charging stations, electric and hydrogen vehicles and sustainable fuels; “Sustainable Water and Waste”, including biogas, RNG, precision agriculture, carbon capture and storage and recycling projects, and; “Sustainable Cities”.
Since its inception, Generate Capital has raised more than $10 billion, helped produce more than 320 GWh of sustainable energy and process more than 715 thousand tons of organic waste.
Generate Capital CEO and co-founder Scott Jacobs said:
“We are at an inflection point in the transition to a clean energy economy. While the window for action shrinks every day, we have the plans 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, Director of Sustainable Investment and Management Strategies at CalSTRS, said:
“Our mission is to provide a secure retirement for California’s educators and public beneficiaries. Our strategic partnership with Generate Capital is aligned with our mission to deliver superior financial returns for our portfolio while creating demonstrable positive outcomes for the environment and society.”
