In brief: Brookfield’s carbon capture double dip

The firm has now made multiple investments from its giant global transition fund in carbon capture.

This summer saw Brookfield and its $15 billion Global Transition Fund plough $500 million into a carbon capture joint venture with the California Resources Corporation. Now the fund, which made headlines this summer as the largest energy transition fund close ever, is back for more.

BGTF is dropping another $500 million to LanzaTech, a Chicago-based carbon capture and transformation platform. The funds will be used to scale LanzaTech’s existing carbon capture and transformation technology, which is currently used to transform carbon waste into fuel, fabric and packaging, to be deployed into commercial-sized production plants. What’s more, if additional milestones are met, Brookfield has stated that it is at the ready to deploy another $500 million, making this a potential billion-dollar investment.

Natalie Adomait, managing partner of Brookfield’s renewable power and transition group, told affiliate title Infrastructure Investor in July that carbon capture was one of the elements of the fund it was “most excited about”. With LanzaTech the fund’s third such deal, that much is evident.