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Business Wire
15-05-2025
- Business
- Business Wire
Rubicon Carbon Enters into Agreement with Microsoft for Nature-based Carbon Removal Credits
MARINA DEL REY, Calif.--(BUSINESS WIRE)-- Rubicon Carbon, a leading carbon credit management firm, today entered into a framework agreement with Microsoft to facilitate the purchase of 18 million tonnes of high-quality carbon removal credits – one of the largest single-buyer commitments of its kind in the world. Each carbon removal transaction under this deal will be structured as 15- to 20-year offtakes, supporting a pipeline of individual Afforestation, Reforestation, and Revegetation (ARR) projects worldwide. A defining feature of this framework agreement is the scale of Microsoft's work in this space. By anchoring long-term offtake agreements, this deal demonstrates the growing role of corporate buyers in unlocking private investment for high-integrity carbon projects that might otherwise lack funding. 'Addressing climate change requires more than good intentions—it requires capital deployment at scale,' said Tom Montag, CEO of Rubicon Carbon. 'This collaboration serves as a blueprint for how the financial sector can meet the urgency of the moment while also generating strong financial returns. We aim to crowd in more capital by leveraging market-based mechanisms to scale societal impact at a planetary scale.' 'This agreement demonstrates how science, finance, and business model innovation can work in concert to scale affordable and high-quality climate solutions,' said Brian Marrs, Senior Director, Energy & Carbon Removal at Microsoft. 'We believe that project finance needs to be central to the voluntary carbon market, and this deal signals the long-term demand for carbon removal necessary to mobilize infrastructure-grade investment and world-class execution.' Through this collaboration, Rubicon Carbon has developed an evaluation framework with Microsoft that reflects Microsoft's science and quality criteria while building upon Rubicon Carbon's rigorous standards for carbon removal credit integrity. Rubicon Carbon will source, assess, and conduct advanced due diligence on ARR projects worldwide, prioritizing those with strong potential for scale but limited access to capital. Rubicon Carbon's in-house science team will provide continuous quality assurance and monitoring, leveraging the latest remote-sensing technologies. 'We launched Rubicon Carbon three years ago to catalyze high-quality carbon projects at scale. This agreement with Microsoft represents an important milestone on our journey to deliver innovative, market-based solutions,' said Jim Coulter, Founding Partner of TPG and a Managing Partner of TPG Rise Climate. For more information on Rubicon Carbon, visit the website, follow on LinkedIn, or contact Rubicon Carbon's Supply sourcing team. About Rubicon Carbon: Rubicon Carbon is a carbon credit management firm that empowers the world's largest enterprises to achieve their sustainability goals by addressing carbon emissions and driving global climate finance. Backed by TPG Rise Climate and led by top executives from across finance, technology, and climate science, Rubicon Carbon delivers innovative carbon credit solutions to global businesses while unlocking carbon avoidance and removal projects at scale, all backed by rigorous in-house scientific diligence. For more information, visit
Business Standard
29-04-2025
- Business
- Business Standard
Tata Tech slides after large block deal
Tata Technologies tumbled 5.78% to Rs 664.80, following a major block deal valued at Rs 1,093.67 crore on the National Stock Exchange (NSE) early today, 29 April 2025. In the transaction, 1,60,06,865 shares, representing 3.95% of the companys equity, changed hands at Rs 683.25 per share a 3.22% discount to the previous closing price of Rs 705.60. The stock reacted sharply to the discounted pricing, slipping as investors digested the sizable offloading. While the identity of the seller has not been officially confirmed, media reports suggest that private equity firm TPG Rise Climate was behind the stake sale. As on March 2025, TPG Rise Climate held 2.44 crore shares, or 6.01% equity, of the company. The counter witnessed a surge in trading activity today, with volumes on the BSE soaring to 63.62 lakh shares significantly higher than the one-quarter average of 1.37 lakh shares. On the NSE, volumes spiked to 3.94 crore shares, far exceeding the quarterly average of 14.75 lakh shares. Tata Technologies is a global product engineering and digital services company. Its consolidated net profit jumped 12% to Rs 188.87 crore, despite a 2.41% decline in revenue from operations to Rs 1,285.65 crore in Q4 FY25 over Q3 FY25. On a year-over-year (YoY) basis, the company's net profit jumped 20.12% while revenue declined 1.18%.
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Business Standard
29-04-2025
- Business
- Business Standard
Tata Tech shares drop 6% after block deal; Here's the likely seller
Shares of Tata Technologies fell over 6 per cent in Tuesday's intraday trade after a block deal involving 3.94 per cent of equity, with TPG Rise Climate likely the seller. Tata Tech's stock fell as much as 6.03 per cent during the day to ₹663.05 per share, the biggest intraday loss since April 7 this year. The stock pared losses to trade 4.8 per cent lower at ₹671.7 apiece, compared to a 0.47 per cent advance in Nifty50 as of 9:35 AM. The stock is the worst performer on the NSE Nifty 500 and BSE 500 indices, according to Bloomberg. Tata Tech's counter has fallen over 7 per cent from its recent high of ₹731, which it hit early this month. The stock has fallen 25 per cent this year, compared to a 3.2 per cent advance in the benchmark Nifty50. The Tata Group company has a total market capitalisation of ₹27,309.61 crore, according to BSE data. Tata Tech block deal About 16 million shares, or a 3.94 per cent stake of Tata Tech, changed hands on the National Stock Exchange in a single transaction, according to Bloomberg data. Buyers and sellers for the transaction were not known immediately. However, as per the term sheet viewed by the wire agency, TPG Rise Climate was offloading 15.86 million shares of the company at a price range of ₹670 to ₹698.5 per share. The price range was a 1 per cent to 5 per cent discount to the closing price of the stock on April 28. Tata Tech Q4 results The global product engineering and digital services firm reported a 20.12 per cent rise in consolidated profit after tax at ₹188.87 crore in the fourth quarter ended March 2025 on the back of higher income and lower expenses. The company had posted a consolidated profit after tax of ₹157.24 crore in the same quarter of the year-ago fiscal. Total expenses in the fourth quarter were at ₹1,088.20 crore as against ₹1,094.4 crore in the year-ago period. For the fiscal year ended March 2025, PAT was at ₹676.95 crore as compared to ₹679.37 crore in the preceding financial year. Consolidated total income in FY25 was at ₹5,292.58 crore as against ₹5,232.75 crore a year ago.
Business Upturn
29-04-2025
- Business
- Business Upturn
Tata Technologies share price falls nearly 5% after Rs 1,100 crore block deal
By Aditya Bhagchandani Published on April 29, 2025, 09:32 IST Shares of Tata Technologies dropped 4.71% to ₹672.40 in early trade on April 29, following a large block deal involving 1.6 crore shares—equivalent to 3.95% of the company's equity—changing hands for approximately ₹1,094 crore. The transaction occurred at ₹683 per share, marking a discount of nearly 5% to the previous close of ₹705.60. TPG Rise Climate Sf Pte. Ltd., a fund managed by the US-based private equity giant TPG Inc., was expected to offload a 3.89% stake (approximately 15.86 million shares) in Tata Technologies through the deal. The offer price ranged between ₹670 and ₹699 per share. As per the March 2025 shareholding data, TPG Rise Climate held a 6.01% stake in Tata Technologies, which translates to roughly 2.43 crore shares. Following this transaction, the remaining stake of TPG Rise Climate will be under a 60-day lock-in period, according to sources cited by NDTV Profit. BofA Securities acted as the sole banker for the bulk deal. At the current market price of ₹672.40, Tata Technologies commands a market capitalization of ₹272.87 billion. The stock has traded between ₹663.05 and ₹692.40 so far today and has seen an average daily volume of 1.74 million shares. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
16-04-2025
- Business
- Yahoo
Altus Power Closes Transaction with TPG
STAMFORD, Conn., April 16, 2025--(BUSINESS WIRE)--Altus Power, Inc. ("Altus Power" or the "Company") (NYSE: AMPS), a leading commercial-scale provider of clean, electric power, today announced the completion of its acquisition by TPG through its TPG Rise Climate Transition Infrastructure strategy in an all-cash transaction that valued the Company at approximately $2.2 billion, including outstanding debt. As a result of the transaction, Altus Power is now a privately-held company. "The successful close of this transaction marks a pivotal moment for Altus Power, our stockholders, employees and partners. By partnering with TPG Rise Climate Transition Infrastructure, who shares our long-term vision for the future of clean energy, we believe we are unlocking significant value for our stockholders and accelerating our long-term growth strategy," said Gregg Felton, CEO of Altus Power. "As demand for power continues to rise, businesses, utilities and communities are desperate for scalable, grid-enhancing solutions that generate incremental power in locations where it's needed. We expect this partnership to strengthen our ability to deliver clean energy faster and at greater scale, positioning Altus to lead the next phase of clean energy expansion." Under the terms of the transaction, Altus Power stockholders will receive $5.00 in cash, without interest and minus any applicable withholding taxes, for each share of Altus Power Class A common stock owned immediately prior to the closing of the transaction. The transaction was initially announced on February 6, 2025, and received approval from the Company's stockholders on April 9, 2025. As a result of completion of the transaction, the Company's Class A common stock ceased trading prior to the opening of trading on April 16, 2025 and will be removed from listing on the New York Stock Exchange. With the delisting from the New York Stock Exchange, Altus Power also intends to terminate the registration of its Class A common stock and suspend its reporting obligations under the Securities Exchange Act of 1934. Advisors Moelis & Company LLC is acting as financial advisor to Altus Power and Latham & Watkins LLP is acting as legal counsel to Altus Power. PJT Partners is acting as financial advisor to TPG Rise Climate and Kirkland & Ellis LLP is acting as legal counsel to TPG Rise Climate. About Altus Power Altus Power, based in Stamford, Conn., is a leading commercial-scale provider of clean electric power serving commercial, industrial, public sector and Community Solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally sited solar generation, energy storage and charging infrastructure across the nation. Visit to learn more. About TPG Rise Climate TPG Rise Climate is the dedicated climate investing platform of TPG, a leading global alternative asset management firm. With dedicated pools of capital across private equity, transition infrastructure, and the Global South, TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG's investing professionals around the world, the strategic relationships and insights developed across TPG's broad portfolio of climate companies, and a global network of executives, advisors, and corporate partners. As part of TPG's $27 billion global impact investing platform, TPG Rise Climate invests broadly across the climate sector, with a focus on building and scaling leading climate solutions across the following thematic areas: clean electrons, clean molecules and materials, and negative emissions. For more information, please visit View source version on Contacts Media Contact:Altus PowerJenny Volanakismediarelations@
