Greenwave Holdings has launched Greenwave Opportunity Fund to invest, acquire and develop venture-backed clean energy projects focusing on real estate, energy and water applications.
“Now is the time to improve energy resiliency across the diverse marketplace by taking advantage of the unique and comprehensive energy applications delivered by Greenwave Holdings,” said Jami Krynski, Greenwave Holdings CEO.
The fund is authorized to raise $250 million for qualified opportunity zone businesses. In addition, the fund will provide the venture capital backing for Greenwave Holding Franchise to promote regional visibility and strength in the delivery of clean energy innovation across a diverse marketplace.
Greenwave deploys a proactive position on not only clean energy, but ensuring there is a supply of electricity when an interruption to the supply of electricity occurs because of hurricanes, earthquakes, fires or another reason.
As the costs of clean energy technologies have fallen, the business case for clean energy has become a major driver of change. Mature clean energy technologies, including hydropower and geothermal, have been cost-competitive for years where they operate. However, technologies such as solar and wind also have gained a competitive edge as a result of technological advances and increased investment. The steep decline in costs of clean energy and energy storage has surprised even the most optimistic observers. Once dismissed as too expensive to expand beyond niche markets, solar and wind can now beat conventional generation technologies on cost in many of the world's top markets, even without subsidies.
There has been a growing focus and investor/capital concentration around a comprehensive application for clean and green energy to reduce energy costs and improve the environment. Limited environmental improvements from conventional energy, coupled with raising energy costs have generated a green energy revolution. Energy demand at the same time is predicted to grow by more than 30 percent by 2035. Demand for electricity is forecasted to grow twice as fast as total energy consumption and leading prices will rise by unprecedented rates. This volatility coupled with the national and global green energy movement has driven the need for clean and sustainable sources of energy. The price of fossil fuels represents nothing but a massive risk exposure for anyone who is responsible for an operational portfolio. What is left are compelling financial reasons to voluntarily source clean energy.
Poor national grid operational performance has left the national rate base citizens exposed to disruptive energy supply and unpredictable rise in energy economics giving further support and desire to improve resiliency and efficiency. Lack of control and poor recovery by national utility and grid operators have exposed citizens to safety and environmental impacts that will take generations to overcome. Clean energy and energy independence are at the core of economics, security and improvements to the environment.
“Failing energy infrastructure, natural disaster relief and dirty conventional energy are things that Greenwave strives to improve through the deployment of clean and resilient energy,” said Colton Cooper, Greenwave co-founder. “Poor effort and lack of progress in energy policy development across the United States have left many corporations setting objectives to improve sustainability and reduce carbon footprint across the entire marketplace. At the rate of energy increase, many corporations have no choice but to voluntarily move toward Greenwave for clean energy innovation. In an improving clean energy environment, corporations and individuals are moving toward clean and green energy, generating the potential to add growth to an investor's portfolio and serve as a replacement to the utility equities in the energy segment of an accredited investor's portfolio.”