Salt Lake City, UT - Blue Source LLC, North America's leading portfolio of greenhouse gas verified emission reductions and carbon capture and storage projects, recently announced a strategic investment partnership with affiliate investment funds of Och-Ziff Capital Management Group LLC to fund the development of carbon infrastructure projects.
Och-Ziff's investment funds have committed up to $500 million for new greenhouse gas reduction projects to be managed in partnership with Blue Source. This commitment from Och-Ziff continues Blue Source's role as the largest project finance company focused on carbon capture and storage and methane management projects. In addition to this capital commitment, Och-Ziff's investment funds are also making an investment in Blue Source. Terms of both transactions were not disclosed.
The Och-Ziff investment will support Blue Source's ongoing development of a "carbon highway" of pipeline infrastructure projects across North America that capture, transport and sequester anthropogenic CO2 that would otherwise be vented into the atmosphere. The company will also invest in climate change projects derived from power generation, fertilizer production, advanced energy conservation, natural gas production and methane management from coal mining, wastewater treatment, landfills and animal management.
"Och-Ziff is an extremely experienced and leading global alternative asset manager with significant experience in the carbon space and brings to Blue Source a vast wealth of expertise, capital and enthusiasm," said Bill Townsend, Chief Executive Officer of Blue Source. "Our partners at Och-Ziff recognize the role that Blue Source will play in the coming carbon economy and value the strength of its mission to offer real carbon solutions. This is a significant infusion of capital from a firm that has been a first mover in carbon and environmental finance."
Added Daniel S. Och, Chairman and Chief Executive Officer of Och-Ziff Capital Management Group, "We are excited to be able to jointly build a carbon asset business with Blue Source. We consider the firm and its principals to have a unique leadership position in the industry. This new partnership is a terrific fit to our existing and prospective energy and infrastructure investment activities."
SOURCE: Blue Source LLC