Michelle Ma of Bloomberg reports on Jimmy Haslam’s efforts to decarbonize heavy industry.
- Jimmy Haslam’s family office HF Capital LLC has committed $725 million to launch an initiative to decarbonize heavy industry.
- The effort will target investments in power generation, energy supply and distribution, and biofuels for marine shipping.
- The initiative’s goal is to reduce 50 million tons of greenhouse gas emissions (enough to remove 12 million cars from the road) in its lifetime.
“HF Capital has also invested in several energy companies, including Royal Dutch Shell Plc-backed solar developer Silicon Ranch Corp. as well as Arizona DF Renewables, a renewable natural gas producer. Environmentalists have warned that renewable natural gas is still a greenhouse gas, one that is at least 84 times more potent than CO2 when it comes to warming the atmosphere over a 20-year period, though it also qualifies for California’s Low Carbon Fuel Standard.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
