ECP Environmental Growth Opportunities, a blank check company formed by Energy Capital Partners targeting businesses combatting climate change, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
The company is led by CEO and Director Tyler Reeder, a Managing Partner at Energy Capital Partners, and CFO Drew Brown, a Principal at Energy Capital Partners. Energy Capital Partners founder and Senior Partner Douglas Kimmelman serves as a Director. The company plans to target businesses in North America that are combatting climate change, specifically focusing on the transition to electric-powered technologies (electrification) and sustainable technology and services.
ECP Environmental Growth Opportunities plans to list on the Nasdaq under the symbol ENNVU. Barclays, Morgan Stanley and BMO Capital Markets acted as lead managers on the deal.
