Singapore’s state investor Temasek It has put another $42.8 million into a decarbonization-focused investment platform. Generation Zero.
According to regulatory documents accessed, Deal Street AsiaThis latest capital injection, made through Peter Investments, increases the total capital injected to US$679.2 million.
This represents 18.9% of Temasek’s initial $3.6 billion investment in GenZero, which was founded in 2022. Temasek had already invested $44.7 million in GenZero in February.
Wholly owned by Temasek, GenZero aims to accelerate decarbonization solutions by deploying long-term, flexible capital.
The platform invests in a range of opportunities, from early-stage companies needing patient capital to commercialize to mature companies ready to scale.
GenZero reported revenue of $8.59 million for fiscal 2023, up significantly from $600,000 in fiscal 2022, while losses narrowed to $150,000 from $3.04 million a year ago.
In Southeast Asia, GenZero has invested in AJA Climate Solutions, which focuses on nature-based climate mitigation projects, and C-Quest Capital, which is bringing energy-efficient cookstoves to rural homes.
Additionally, the company is an investor in the Tropical Asia Forest Fund 2, managed by New Forests, which aims to develop sustainable forest plantation assets in the region.
