Votorantim and CPPI Form Joint Venture Aimed at Investing in Energy Transition Solutions

Written by Roberta Souza

Published on 30/03/2023 at 12:13

Updated on 30/03/2023 at 14:51

Energia Solar. FONTE: CANVA

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Both Companies Are Already Controlling Shareholders of Auren. This Time, the Union of Votorantim and CPP Results in the Creation of Floen

With the goal of investing in the energy transition through solutions, Votorantim and the Canadian pension fund CPP Investments (Canadian Pension Plan Investments) have come together to create a new energy company, Floen. Both companies are already shareholders of Auren, a result of the union of Votorantim Cimentos, Nexa Banco BV, Citrosuco, CCR, and others.

The goal of Votorantim’s new energy company will be to invest in companies that are dedicated to solutions for the energy transition, in order to contribute to the decarbonization of the atmosphere. The company’s name comes from the combination of the English words flow and energy, meaning energy that flows, and it will be led by Raphaella Gomes, an executive who has previously worked as the director of energy transition at Raízen and as CEO of Geo Biogás.

With the new partnership, Votorantim and CPP will each hold 50% of the total energy company, whose purpose is to invest in companies with proven solutions that also operate in the areas of energy storage, biofuels, green hydrogen, energy efficiency, carbon credits, carbon capture, among others.

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Smaller Team and Larger Structure for Energy Transition

The start of operations at Votorantim’s energy company will begin with a small team of only 8 people. In addition, Floen will leverage the structure and back office of Votorantim and CPP Investments, which has been working since February 2023 on creating a small Deal Flow of 17 energy companies.

In addition to investing, Floen may also create companies from scratch. According to the Floen executive: “The initial focus is to invest in things that already exist, but if there is a specific sector, we will analyze whether creating a ‘greenfield’ project makes sense.”

By 2031, the expectation is that the global energy transition sector will reach the level of US$ 5.6 trillion.

Votorantim and CPPI Form Joint Venture Aimed at Investing in Energy Transition Solutions

Both Companies Are Already Controlling Shareholders of Auren. This Time, the Union of Votorantim and CPP Results in the Creation of Floen

Smaller Team and Larger Structure for Energy Transition

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Votorantim and CPPI Form Joint Venture Aimed at Investing in Energy Transition Solutions

Both Companies Are Already Controlling Shareholders of Auren. This Time, the Union of Votorantim and CPP Results in the Creation of Floen

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Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

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Goodbye traditional washing machine: Panasonic surprises housewives with the NA-G5 featuring four drums, a 13 kg washer and dryer, a 12 kg dryer, independent mini washers, a heat pump, and a 4-in-1 system awarded at the German Design Award.

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