The Arab Energy Fund, Hartree Partners set up $120m climate tech investment platform

The Arab Energy Fund, formerly known as APICORP, has partnered with global energy and commodities firm Hartree Partners to establish  TAEF Hartree Cleantech LP, a $120m limited partnership focused on decarbonisation technologies across the US and Europe.

The UK-incorporated platform will invest in venture capital (VC) stage companies developing physical and digital decarbonisation technologies.

The initiative aligns with The Arab Energy Fund’s strategy to position itself as the leading impact investor in the energy sector, with a focus on energy security and sustainability.

Strategic investment in cleantech

Hartree Partners has been advancing cleantech investments since 2020 through its subsidiary, Vertree Partners, which specialises in carbon markets, industrial decarbonization solutions, and the energy transition value chain.

Hartree’s cleantech portfolio includes investments in 10 companies across industrial decarbonisation, emissions verification, geospatial data analytics, and climate change adaptation technologies.

“The partnership reflects our strategy to support the energy ecosystem with debt and equity solutions and advances our member countries’ energy agenda by fostering local energy value chains in the MENA region and beyond,” said Khalid Ali Al-Ruwaigh, CEO of The Arab Energy Fund.

Hartree Partners’ founding MD, Stephen Hendel, added: “We are proud to launch this platform alongside The Arab Energy Fund. Our combined expertise will allow us to identify and support transformational cleantech innovations on a global scale.”

New platform to build on Hartree’s previous collabs

The new platform builds on previous collaborations between Hartree and major investors such as BlackRock, Microsoft, and Union Square Ventures.

Its existing portfolio includes 10 companies focused on accelerating decarbonisation solutions, reinforcing The Arab Energy Fund’s position as a global leader in sustainable energy financing.

The Arab Energy Fund and Hartree Partners plan to leverage the platform to scale investment opportunities in the cleantech sector, aiming to drive transformative changes across the global energy landscape.