Climate fund backed by Red Hot Chili Peppers singer Anthony Kiedis ready for float in London
A clean energy investment firm backed by Red Hot lead singer Chilli Peppers has announced plans to list in London.
i (x) Net Zero, founded in 2015, plans to raise £ 20million in an IPO on Aim. The company supports sustainable and environmentally friendly businesses and has already invested in projects, including a business that turns waste into jet fuel and a business that captures carbon from the atmosphere.
Investors in i (x) include Red Hot Chili Peppers frontman Anthony Kiedis and Airbnb co-founder Joe Gebbia. The company is chaired by former London minister Nick Hurd, who left Parliament in 2019.
Hurd said, “Large-scale private capital investment is the key to scaling up the technological and structural innovations the world needs in order to massively reduce our carbon output.
“The capital is there: what is needed are dedicated financial and operational experts who can nurture and incubate companies that are pioneers and commercialize technologies. i (x) Net Zero is made up of exactly these experts.
I (x) CEO Steve Oyer said: “Our belief is that the world’s biggest problems present significant market opportunities and that capital, deployed intentionally, has the power to improve the sustainability of our planet and communities. communities in which we live.
The funds from the company’s IPO will be spent on more investment in companies it has already backed, as well as new opportunities. The shares are expected to start trading later this month. Shore Capital and Hannam and Partners are both working on the float.