Clir Renewables secures CAD$4.3 million in funding round

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Renewable energy intelligence platform secures significant capital investment from Tokio Marine HCC, Longbow Capital, ArcTern Ventures and BDC Capital.

March 6, 2024 Clir Renewables (Clir), the renewable energy intelligence platform for wind and solar, today announces the closing of its CAD$4.3 million funding round, which was led by Tokio Marine HCC, Longbow Capital Inc., ArcTern Ventures and BDC Capital.

Since the business was founded in 2017, Clir has provided critical data and technology to support asset owners with actionable insights to maximize returns, minimize risks and optimize overall commercial performance of wind and solar assets. With the largest dataset of operations and risk data, Clir enables increased portfolio performance for its customer base of top-tier infrastructure fund managers and independent power producers across Europe, North America, South America and Asia.

As margin pressures increase, technology and data will be necessary to squeeze more out of assets and increase returns. This latest round of financing will allow Clir to further develop its products, leveraging the industry data of over 200 GW of assets to evaluate technical and financial performance across a project’s lifecycle.

“We are very pleased with the continued confidence in Clir from the world’s leading energy and technology investors,” said Gareth Brown, CEO, Clir Renewables. “Technology and data are integral to the growth of the renewable energy industry. We’re looking forward to being able to further the impact of our products and continue to help drive returns to accelerate renewable energy production across the globe. This is the best possible endorsement of our platform and the value it brings to the industry.”

Susan Rivera, CEO, Tokio Marine HCC, added: “Clir’s data analytics continue to be invaluable when managing risk in the renewables market. As the company grows and innovates, we’re confident that it will continue to expand its value proposition for both clients and stakeholders. As a company with its own environmental, social, and governance (ESG) goals in the renewable energy space, Tokio Marine HCC is pleased to increase its funding of Clir and looks forward to continuing to support Clir’s mission to accelerate the clean energy transition.”

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