Published by Todd Bush on January 12, 2024
CO2 Energy Transition Corp., a blank check company targeting the carbon capture, utilization, and storage industry, lowered the proposed deal size for its upcoming IPO on Tuesday. The company originally filed in February 2023, and before today had not updated its prospectus since March.
The Houston, TX-based company now plans to raise $60 million by offering 6 million units at $10. The company had previously filed to offer 8 million units. Each unit now consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant, exercisable at $11.50. At the revised terms, CO2 Energy Transition Corp. will raise 25% less in proceeds than previously anticipated.
>> In Other News: OLI Systems Joins Leading North American Carbon Capture, Storage, and Utilization Consortium
CO2 Energy Transition Corp. is led by CEO Brady Rodgers, whose current roles include serving as CEO of Antelope Energy Partners and Native State CCS, and Chairman Charles Fox, the co-founder and CEO of oil and gas producer Windy Cove Energy II, and Pure Earth Plasma Holdings. The SPAC plans to target the carbon capture, utilization, and storage industry, focusing on businesses with enterprise values between $150 million and $250 million, sound environmental and regulatory performance criteria, and significant growth potential, among other characteristics.
CO2 Energy Transition Corp. was founded in 2021 and plans to list on the Nasdaq under the symbol NOEMU. EF Hutton is the sole bookrunner on the deal.
Relevant Profile: NOEMU
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🚂 Ballard Announces 1.5 MW Fuel Cell Engine Order for Sierra Northern Railway 🌊 Sonardyne Secures Monitoring Deal for NEP CCS Project 🏆 ClimeFi provides access to CDR portfolio o...
Inside This Issue 🛢️ Chevron Doubles Down on U.S. Hydrogen Innovation with Dual Projects in Texas and California 🧾 Exclusive: White House Considers Plan to Clear Record Backlog of Small Refinery B...
Inside This Issue 💸 Trump Administration Cancels $3.7 Billion in Clean Energy Projects, Ending Ambitious Industrial Decarbonization Efforts 🌊 A New Protocol for Carbon Removal via Direct Ocean Cap...
Ballard Announces 1.5 MW Fuel Cell Engine Order for Sierra Northern Railway
VANCOUVER, CANADA – Ballard Power Systems (NASDAQ:BLDP; TSX:BLDP) today announced the signing of a new supply agreement with California-based rail operator Sierra Northern Railway for the supply of...
PureWest and Gunvor Group Partner to Accelerate Use of Verified Low-Carbon Gas Solutions
PureWest Energy, LLC ("PureWest"), a leading Rocky Mountain independent natural gas producer recognized for its low methane and carbon emission rates, and Gunvor USA LLC, a member of Gunvor Group (...
Towards Net Zero: Sustainability Meets Efficiency with E-Drive
In the first blog of this series, we introduced the roadmap that will make Woodfibre LNG one of the lowest-emission LNG facilities in the world. A key component of that strategy is the E-Drive syst...
ClimeFi provides access to CDR portfolio of XPRIZE competition Winners and Finalists
ClimeFi has partnered with XPRIZE to provide CDR buyers with a portfolio that offers unrivalled exposure to the XPRIZE Carbon Removal competition Winners and Finalists ClimeFi has partnered with X...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.