- Business
- ClimateRock is a special purpose acquisition company (SPAC) focused on effecting mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations primarily in the sustainable energy industry within the Organization for Economic Co-operation and Development (OECD) countries. The company targets businesses involved in climate change, environmental solutions, renewable energy, and emerging clean technologies. Founded in 2021, ClimateRock is headquartered in London, United Kingdom, and operates mainly as an acquisition vehicle rather than producing revenue independently. Its latest major development includes a proposed business combination with GreenRock, an independent renewable energy company, which aims to create a comprehensive and sustainable energy solution spanning the renewables value chain. This combination involves acquiring GreenRock’s divisions, including TEP Renewables Limited for solar development and Accretion Energies Limited for operational wind assets. The company’s management team has significant expertise in renewable energy, project finance, corporate finance, and global private equity. ClimateRock’s strategy emphasizes investments that deliver positive environmental and social impacts alongside attractive risk-adjusted returns and focuses on scaling next-generation renewable energy, referred to as “Renewables 3.0”.