Abstract
On 6th March 2008, Climos announced an investment deal. The announcement made it clear that Climos received an investment worth $3.5 million from two companies, namely, Braemar Energy Ventures and Elon Musk.
Climos Business Deal of the most recent period was announced on 6th March 2008. The announcement revealed that the business deal was actually an investment deal and through this investment deal, Climos received huge fundings worth $3.5 million from two companies.
Details of the Deal
On 6th March, 2008, Climos declared that it has completed its' Series A round of financing. Through this investment round, the company received an investment of $3.5 million. Braemar Energy Ventures, a venture capital firm of USA, led this investment round. The other participant of this investment deal was Elon Musk, the renowned technology investor.
Climos would use the fund accumulated through this investment round for the following purposes:
- Climos would use the funds received through the investment deal, in a project of Environmental Impact Assessment.
- The company decided to use the funds in lowering fossil fuel emissions through conservation and the use of renewable.
- Climos also thought of restructuring its' energy infrastructure utilizing the funds, received through the investment round.
- Climos planned to run some science workshops with significant research organizations, utilizing the funds of the investment deal.
- The company also thought of submitting an application for receiving international permit. In this purpose also, Climos decided to use the funds of the investment deal.
In respect of this investment deal, Dennis Costello, Managing Director, Braemar Energy Ventures, stated that, Climos has combined scientific and technological expertise with powerful business plan and
efficient business management skills and for this reason, Braemar Energy Ventures has decided to invest in Climos.
On the other hand, Dan Whaley, CEO of Climos, revealed that, the Braemar Energy Ventures' understanding of the issues regarding climate impressed Climos. He also opined that, after this investment deal, Climos aims at developing a strong working relationship with Braemar Energy Ventures.