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BBVA Invests $25 Million in Lowercarbon Capital to Advance Decarbonization, Including Nuclear Fusion Technology

ESGBBVA Invests $25 Million in Lowercarbon Capital to Advance Decarbonization, Including Nuclear Fusion Technology

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:

  1. BBVA’s investment in Lowercarbon Capital is part of the bank’s broader commitment to sustainability and combating climate change.
  2. Lowercarbon Capital focuses on climate tech and is particularly interested in nuclear fusion technology, which offers a clean and abundant source of energy.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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