BBVA, a Spanish banking group, has invested $25 million in a new funding round for the venture capital fund Lowercarbon, which specializes in decarbonization. This investment, combined with a previous $20 million investment, brings the total to $45 million. The funds will be directed towards disruptive solutions with significant potential, including new technology based on nuclear fusion.
Key points:
- BBVA’s investment in Lowercarbon Capital is part of the bank’s broader commitment to sustainability and combating climate change.
- Lowercarbon Capital focuses on climate tech and is particularly interested in nuclear fusion technology, which offers a clean and abundant source of energy.
- Nuclear fusion involves combining two atoms to create a single atom, releasing a substantial amount of energy. It is considered a cleaner and safer method of generating electricity compared to traditional nuclear fission.
- The investment in Lowercarbon Capital aligns with BBVA’s goal of achieving net-zero emissions by 2050 and supporting innovative solutions to address climate change.
- Lowercarbon Capital has previously invested in companies developing nuclear fusion technology, including Commonwealth Fusion Systems, which is working on a compact fusion reactor expected to commence commercial operations in the early 2030s.
- BBVA views sustainability as a business opportunity and is actively investing in various climate-friendly technologies and funds, including those focused on decarbonizing construction and real estate, clean hydrogen infrastructure, climate asset funds, and the circular economy.
- The total investment in climate funds announced by BBVA, including the investment in Lowercarbon Capital, amounts to $89 million.
BBVA’s investment in Lowercarbon Capital underscores its commitment to supporting innovative climate solutions and technologies, with a particular interest in advancing nuclear fusion as a sustainable energy source.
By FCCT Editorial Team
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