2015 Lab Instrument Climate Investor One has secured a USD 102 million investment from Norwegian renewable energy company Release by Scatec, a wholly owned subsidiary of Scatec ASA. The announcement is the latest in a long list of achievements by Climate Fund Managers, the instrument’s proponent.

The investment will be used to unleash Release’s innovative solar PV and battery solutions to power utilities and mining companies across Africa

“CFM’s purpose is to help end the climate crisis. We do this by raising and deploying cutting-edge blended finance funds at scale and at pace. Our blended finance model facilitated the integration of impact finance into the deal structure, which Release will be able to leverage to improve its cost structure for its battery and grid connection solutions, allowing Release to offer even more competitive pricing and better value to its clients. We are delighted to support the Release team as they roll-out their critical climate technology across Africa, helping significantly reduce the emissions of the mining and utility sectors.”

Andrew Johnstone, CEO of Climate Fund Managers