LONDON, UK: i(x) Net Zero Plc, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, announced its intention to launch an initial public offering (IPO) on AIM, a market operated by London Stock Exchange including a fundraising to raise £20 million.
Admission is expected to occur in late December 2021.
On Admission i(x) Net Zero will be the owner of i(x) investments LLC. i(x) investments is an investing company that provides its shareholders and investors the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.
Investors in i(x) investments include Veronica Chou, president of Iconix China Group and Novel Fashion Holding; the Desmarais family, investors and financiers who built up Canada’s Power Corp.; Joe Gebbia, co-founder of Airbnb; Aileen Getty, philanthropist and co-founder of Sprout; Chuck Clarvit, CEO of Clarvit Capital and former Managing Director and Co-Head of BlackRock Alternative Advisors; and Anthony Kiedis, climate activist and lead vocalist of Red Hot Chili Peppers.
While i(x) already has access to significant pools of capital through the i(x) investments shareholder base and ultra-high net worth family office network, the Company is a strong advocate for the democratisation of capital and believes that its investment returns should be available to a wider investor base.
In accordance with its belief that some of the world’s biggest problems present significant market opportunities, i(x) focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment.
i(x) uses a multi-strategy investment approach, generally providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) has invested in biofuels, direct air capture, renewable energy, sustainable workforce housing and sustainable energy efficient apartment buildings.
i(x) Net Zero subscribes to the UN Principles for Responsible Investing (“PRI”) and has been accepted as a provisional signatory.
Following admission, the company intends to use the net proceeds of the proposed Fundraising to provide development and expansion capital to certain of its investee companies, for future investments in companies that fall primarily within its areas of interest in Energy Transition and Sustainability in the Built Environment and to provide working capital for the Group.
The Company also expects to make new investments, including potentially exploring a possible alliance with a renewables and circular economy platform, and the potential creation of a joint venture with a firm that has a track record of investing in, developing and operating sustainable infrastructure.
The Company’s investing policy is to generate long term capital appreciation for its shareholders principally by creating, funding, partnering with and/or developing companies that are committed to Energy Transition and Sustainability in the Built Environment.
i(x) is supported by a strong management team with broad and deep experience in the finance industry, including in private equity, venture capital, growth capital, real estate, capital markets, advisory and project development, risk management, asset management and alternative investments.
Steve Oyer, Chief Executive Officer of the Company, 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 the communities in which we live. Our mission is to utilise our capital, experience and sphere of influence as a catalyst to help address some of the significant problems threatening the world. We look to maximise positive social, environmental, and economic impact wherever we are active.
“i(x) Net Zero is seeking admission to AIM to access global growth capital to scale the business further. Admission also offers the ability for individual and institutional investors to deploy capital into a company whose sole mission is to create top-tier returns while addressing humanity’s greatest challenges, like climate change, through the companies we are building.
“i(x) Net Zero exists to provide resources and support to targeted companies that are rapidly innovating and scaling up to address the climate crisis. We see many near- and medium-term opportunities to invest further in our own investee companies and new initiatives to preserve and benefit the planet.”