Patch Joins World Economic Forum’s First Movers Coalition to Power Carbon Removal at Scale
Patch will support First Mover Coalition members’ commitments by connecting them with carbon removal project developers, leveraging software to scale long-term, net-zero transformation
SAN FRANCISCO and LONDON, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Patch announced today it will join the First Movers Coalition (FMC), aligning with the technology platform’s mission to advance technology that makes meaningful climate action a part of everyone’s business. FMC is a global initiative led by the World Economic Forum and the U.S. Department of State that has brought together more than 60 companies worldwide to build early markets for clean technologies.
FMC aims to decarbonize “hard to abate” industrial sectors that currently account for 30% of global emissions. Companies in the coalition have a combined ~$8 trillion in market capitalization and are harnessing their collective purchasing power to send a strong market signal to commercialize zero-carbon technologies. FMC members working within the Carbon Removal Sector, including Alphabet and Microsoft, have committed to contract 50,000 tonnes or $25M worth of durable and scalable carbon dioxide removal by the end of 2030.
FMC has selected Patch as a Carbon Removal Sector implementation partner to offer solutions that meet high durability and scalability requirements. Patch’s platform, which unifies discrete solutions and actors across the carbon market, will bring market insights as well as unique opportunities to help FMC participate in effectively scaling the carbon removal technology ecosystem.
“First Movers Coalition understands the order of magnitude required to reach our global climate goals,” said Brennan Spellacy, Patch CEO & Co-founder. “Combining Patch’s powerful digital infrastructure with First Movers Coalition purchase commitments will enable more efficient and transparent transactions across the carbon market. We are thrilled to work alongside the World Economic Forum and the 60+ First Mover Coalition member companies to ensure this level of investment in carbon removal technology can accelerate impactful climate solutions at viable commercial scale by 2030.”
Patch serves a range of customers like Afterpay, Shop Apotheke, Bain & Company, and EQT to provide access to a range of carbon removal technology solutions, including direct air capture, biomass-based carbon removal, enhanced weathering and concrete mineralization. A trusted leader within the carbon market, Patch brings together business leaders, policymakers and developers across the space in support of innovation and best practices. Using Patch’s technology infrastructure, FMC members will now have multiple pathways to purchase vetted carbon credits, including one-time direct purchases, recurring multi-year offtake agreements, and an API integration that enables companies to connect any product experience to climate action.
“To achieve net-zero emissions globally by 2050, innovative clean energy technologies must reach commercial scale by 2030,” said Nancy Gillis, First Movers Coalition Programme Head. “Engineered carbon dioxide removals will be paramount to decarbonizing at the speed necessary to keep the planet on a 1.5 degree pathway. We are excited that Patch has become an Implementation Partner of the First Movers Coalition and is leveraging their software solutions to facilitate efficient and effective carbon removal at scale.”
"Recognizing the urgency to achieve commercial scale carbon removal within the decade, First Movers Coalition members have pledged to catalyze innovation through sizable commitments to purchase durable and scalable carbon removal,” said U.S. Special Presidential Envoy for Climate John Kerry. “The First Movers Coalition’s implementation partners for carbon removal play an important role in enabling these commitments, and we welcome Patch as our latest implementation partner."
Patch is the technology platform making meaningful climate action a part of every business—no matter the size. Patch provides a growing cohort of carbon credit buyers with access to carefully vetted climate action projects across six continents. This enables buyers to confidently achieve climate impact they can trust, and provides project developers the resources to scale their solutions at the critical pace the planet needs. To help rebalance the planet, visit patch.io.
Contact: Katie Lyons (firstname.lastname@example.org)To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Nikkiso Clean Energy & Industrial Gases Group Announces Expansion of Service for Middle East and Northern Africa30.1.2023 23:49:26 CET | Press release
TEMECULA, Calif., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Nikkiso Clean Energy & Industrial Gases Group (“Group”), a part of the Nikkiso Co., Ltd (Japan) group of companies, is proud to announce yet another expansion of their manufacturing and service capabilities for the Middle East and Northern Africa markets. With this expansion, they will be providing pump and turboexpander aftermarket repairs of their full line, including J.C. Carter pumps. Their new state-of-the-art service center will allow repairs to be made locally rather than the need to ship elsewhere. The new facility, based in the Sharjah Free Zone, was established to provide expanded support for the Middle East and Northern Africa markets. They have added field service support, and shop technicians specifically trained to support Marine, J.C. Carter, Nikkiso Cryogenic Pumps (ACD and Nikkiso Cryo) and Turboexpanders. In addition to in-shop and on-site repairs, they will provide aftermarket service. “With this facility, we will b
Constellation Brands Prices Offering of Senior Notes30.1.2023 22:40:18 CET | Press release
VICTOR, N.Y., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today that it priced the public offering of $500.0 million aggregate principal amount of 5.000% Senior Notes due 2026 (the “notes”) for a public offering price of 99.829% of the principal amount of the notes. The notes will be senior obligations that rank equally with all of Constellation’s other senior unsecured indebtedness. Closing of the offering is expected to occur on February 2, 2023. Constellation intends to use the net proceeds from the offering for general corporate purposes, including the repayment of a portion of its indebtedness outstanding under the delayed draw three-year term loan facility of its term loan credit agreement, dated as of August 9, 2022, as amended on October 18, 2022. BofA Securities, Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC are acting as the joint book-running managers of the offering. The notes are be
Nokia Corporation: Repurchase of own shares on 30.01.202330.1.2023 20:00:00 CET | Press release
Nokia Corporation Stock Exchange Release 30 January 2023 at 21:00 EET Nokia Corporation: Repurchase of own shares on 30.01.2023 Espoo, Finland – On 30 January 2023 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code)Number of sharesWeighted average price / share, EUR*XHEL279,9364.37CEUX20,9634.38AQEU7,9574.36TQEX6,3444.39Total315,2004.37 * Rounded to two decimals On 3 February 2022, Nokia announced that its Board of Directors is initiating a share buyback program under the authorization granted by Nokia’s Annual General Meeting on 8 April 2021 to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The second phase of the share buyback program in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 5 April 2022 started on 2 January 2023
Mendus AB: Mendus announces request for conversion of convertible bonds by Negma Group30.1.2023 18:00:00 CET | Press release
Mendus AB (“Mendus” publ; IMMU.ST), a biopharmaceutical company focused on immunotherapies addressing tumor recurrence, today announced that Negma Group (“Negma”) has by notice to Mendus requested the conversion of convertible bonds that have been issued to Negma in accordance with the financing agreement announced by Mendus through press releases on 26 August and 26 October 2022. Negma has requested conversion of two (2) convertible bonds issued on 3 January 2023, corresponding to SEK 50,000 of the convertible loan amounting to a total of SEK 13,700,000, into 20,325 shares. Upon registration at the Swedish Companies Registration Office, Mendus’ total share capital will amount to SEK 9,971,046.20 and the total number of shares and votes will amount to 199,420,924. The conversion price per share is SEK 2.46, equivalent to 92% of the second lowest closing volume weighted average share price (VWAP) of the 10 consecutive trading days preceding the issuance of conversion request by Negma. F
Mendus AB: Mendus tillkännager begäran från Negma Group om konvertering av konvertibla skuldebrev30.1.2023 18:00:00 CET | Pressemelding
Mendus AB (“Mendus” publ; IMMU.ST), ett bioläkemedelsföretag fokuserat på immunterapier mot tumöråterfall, tillkännager idag att Negma Group (”Negma”) genom meddelande till Mendus har begärt konvertering av konvertibla skuldebrev som utfärdats till Negma i enlighet med det finansieringsavtal som Mendus tillkännagivit genom pressmeddelanden den 26 augusti och 26 oktober 2022. Negma har begärt konvertering av två (2) konvertibla skuldebrev som emitterades den 3 januari 2023, motsvarande 50 000 kronor av det konvertibla lånet som uppgår till totalt 13 700 000 kronor, till 20 325 aktier. Efter registrering hos Bolagsverket kommer Mendus totala aktiekapital att uppgå till 9 971 046,20 kronor och det totala antalet aktier och röster kommer att uppgå till 199 420 924. Konverteringspriset per aktie är 2,46 kronor, motsvarande 92% av det näst lägsta dagliga volymvägda genomsnittliga aktiekursen (VWAP) under de 10 på varandra följande handelsdagarna före konverteringsbegäran från Negma. För ytte