BBVA Invests $45 Million in Lowercarbon Capital to Help Decarbonize the Economy
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BBVA has invested 25 million dollars in a new round of financing from the venture capital fund Lowercarbon, which specializes in decarbonization. This new investment, added to a previous one of 20 million reaching a total of 45 million, will be allocated to disruptive solutions with enormous potential, including new technology based on nuclear fusion.
- BBVA has invested in Lowercarbon Capital, an early-stage venture capital firm focused on climate tech.
- Lowercarbon Capital is particularly interested in nuclear fusion, a technology that has the potential to provide a clean and abundant source of energy.
- BBVA’s investment in Lowercarbon Capital is part of a broader commitment to sustainability.
- The bank has set a goal of achieving net-zero emissions by 2050.
BBVA, a Spanish banking group, has invested in Lowercarbon Capital, an early-stage venture capital firm focused on climate tech. The investment is part of BBVA’s strategy to support companies that are developing innovative solutions to address climate change.
Lowercarbon Capital is particularly interested in nuclear fusion, a technology that has the potential to provide a clean and abundant source of energy. Nuclear fusion is the process by which two atoms are combined to form a single atom, releasing a large amount of energy. This process is similar to what happens in stars, and it is considered to be a much cleaner and safer way to generate electricity than traditional nuclear fission.
“Nuclear fusion is the great hope for achieving a clean and unlimited source of energy,” said Carlos Torres Vila, Chairman of BBVA. “We are committed to companies and projects that are at the forefront of climate change solutions, and we believe that Lowercarbon Capital is well-positioned to help make nuclear fusion a reality.”
Lowercarbon Capital has already invested in several companies that are developing nuclear fusion technology. One of these companies is Commonwealth Fusion Systems, which is building the world’s smallest nuclear fusion reactor. The company has achieved several technical milestones, and it is expected to begin commercial operations in the early 2030s.
“We are excited to partner with BBVA to help accelerate the development of nuclear fusion,” said Chris Sacca, co-founder of Lowercarbon Capital. “BBVA’s investment is a strong vote of confidence in the potential of this technology to help decarbonize the economy.”
BBVA’s investment in Lowercarbon Capital is part of a broader commitment to sustainability. The bank has set a goal of achieving net-zero emissions by 2050, and it is investing in a variety of climate-friendly technologies.
“We believe that sustainability is a business opportunity,” said Torres Vila. “By investing in companies that are developing innovative solutions to climate change, we are not only helping to protect the environment, but we are also creating new businesses and jobs.”
In addition to the investment in Lowercarbon Capital, BBVA has also invested in a number of other climate-friendly technologies. These include:
- Fifth Wall, a venture capital firm that invests in technologies that decarbonize the construction and real estate sector.
- Hy24, the largest clean hydrogen infrastructure fund in the world.
- Just Climate, a climate asset fund that invests in high-impact solutions aimed at eliminating or radically reducing emissions.
- Suma Capital, a climate fund that invests in the circular economy, biogas and biomethane.
The total investment in these climate funds announced by BBVA today amounts to $89 million.