The Arab Energy Fund, in collaboration with Hartree Partners, has initiated the TAEF Hartree Cleantech LP to enhance investments in sustainable technologies in the MENA region.
The Arab Energy Fund has officially launched the TAEF Hartree Cleantech LP, a Limited Partnership worth $120 million, in collaboration with Hartree Partners, a prominent player in global energy and commodities. This initiative is aimed at propelling investments in decarbonization technologies and underscores the Fund’s commitment to sustainable energy solutions throughout the MENA region and beyond.
Incorporated in the UK, the newly formed investment platform focuses on providing venture capital to early-stage companies that specialise in both physical and digital decarbonization technologies. By utilising market insights and research, the platform is set to identify and provide vital support to entrepreneurs working within this crucial sector. This strategic partnership aligns with the Arab Energy Fund’s broader objectives to enhance the energy value chain while promoting energy security and sustainability among its member nations.
Hartree Partners has established itself as a leader in cleantech investments since 2020 through its subsidiary, Vertree Partners. The firm has concentrated its efforts on several pivotal areas, including carbon markets, industrial decarbonization, emissions verification, and climate adaptation technologies. Hartree has developed a robust portfolio, securing ten cleantech investments in association with prominent investors such as BlackRock, Microsoft, and Union Square Ventures.
In outlining the significance of this new alliance, Khalid Ali Al-Ruwaigh, CEO of The Arab Energy Fund, remarked: “This initiative reflects our strategy to support the energy ecosystem with debt and equity solutions, and advances our member countries’ energy agenda, by fostering the development of the local energy value chains in the MENA region and beyond.”
Stephen Hendel, Founding Managing Director of Hartree Partners, expressed pride in the collaboration, stating:“We are proud to launch this platform alongside a long-term and trusted partner in The Arab Energy Fund. Together, our unique competencies will combine to expertly source, evaluate, and support transformational cleantech innovations, on a global scale.”
The TAEF Hartree Cleantech LP platform is primarily designed to scale investments in innovative decarbonization solutions. This development positions The Arab Energy Fund as a prospective leader in sustainable energy financing on a global scale. The partnership intends to widen the platform’s reach by targeting new investments in companies that are at the forefront of the energy transition and technological advancements aimed at addressing climate challenges.
