AXA IM Alts makes investment in GreenStruxure

June 13, 2022
AXA IM Alts, an alternatives investor with about $160 billion in assets under management, said today that it has committed $15 million to microgrid developer GreenStruxure.

AXA IM Alts, a European-based investor with about $160 billion in assets under management, said today that it has committed $15 million to microgrid developer GreenStruxure, joining earlier investors Huck Capital and Inclusive Capital Partners, alongside strategic investor and technology partner Schneider Electric.

GreenStruxure has been focusing on the smaller to middle-size microgrid market and tapping into the desire by some organizations to use on-site energy, rather than renewable energy certificates or power purchase agreements to meet sustainability goals.

In March, GreenStruxure announced a deal with Bimbo Bakeries USA, the maker of such products as Thomas’ English muffins, Arnold bread, and Sara Lee and Entenmann’s pastries, to install microgrids at six manufacturing facilities over the next year. The international bakery has set a goal to achieve net-zero carbon emissions by 2050 and sees microgrids as key to its success.

Learn about microgrids in agriculture. Listen to a replay of a Microgrid Knowledge webinar  with Brian Brogan, director, business development, GreenStruxure; Dennis Donohue, director, Center for Innovation and Technology, Western Growers Association and John Larrea, director, governmental affairs, California League of Food Producers.

For AXA IM Alts, GreenStruxure fits into its objective of evolving resource efficiency, ultimately supporting AXA IM Alts’ broader goal of mitigating climate change, according to a news release issued by the investor. 

Jonathan Dean, AXA IM Alts’ head of impact investing, described GreenStruxure as “a first mover in the energy-as-a-service microgrid space, which is providing sustainable, more resilient and stable energy solutions.”

“GreenStruxure provides a clear opportunity to displace fossil fuel-based grid energy. This investment reinforces our continued commitment to climate action, namely our impact goals of evolving resource efficiency and providing sustainable solutions to the global market,” Dean added.

About a year ago, ClearGen, a Blackstone company, committed microgrid financing of up to $500 million for GreenStruxure. Blackstone, a private equity company, started ClearGen to finance and own distributed and sustainable energy infrastructure focused on the commercial, institutional and government markets.

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About the Author

Elisa Wood | Editor-in-Chief

Elisa Wood is an award-winning writer and editor who specializes in the energy industry. She is chief editor and co-founder of Microgrid Knowledge and serves as co-host of the publication’s popular conference series. She also co-founded RealEnergyWriters.com, where she continues to lead a team of energy writers who produce content for energy companies and advocacy organizations.

She has been writing about energy for more than two decades and is published widely. Her work can be found in prominent energy business journals as well as mainstream publications. She has been quoted by NPR, the Wall Street Journal and other notable media outlets.

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