- CPP Investments will acquire a majority interest in Power2X
- Power2X is headquartered in Amsterdam
- CPP Investments is an investment management organisation that oversees Canada Pension Plan’s fund
Canada Pension Plan Investment Board (CPP Investments) has entered an investment partnership with Power2X and plans to invest an initial €130 million in the company.
Power2X develops large-scale new energy assets and infrastructure focusing on decarbonising industrial value chains. The company is headquartered in Amsterdam, the Netherlands.
CPP Investments will acquire a majority interest in Power2X under the terms of the deal.
This investment will accelerate the growth of Power2X as a development platform and fund green molecule projects, according to a release.
“With Power2X’s development capabilities and CPP Investments’ flexible capital and sustainable energies expertise, this partnership enables us to invest in next-generation energy assets at an industrial scale with long-term business partners,” said Bruce Hogg, MD, head of Sustainable Energies, CPP Investments.
CPP Investments, based in Toronto, is an investment management organisation that oversees Canada Pension Plan’s fund. The fund totalled C$570 billion as on March 31.