Climate Transition Capital launches $226 million SPAC By Reuters

LONDON (Reuters) – Investment platform Climate Transition Capital said on Tuesday it will launch a 190 million euro ($226 million) Special Purpose Acquisition Company (SPAC) aimed at investing in companies that are “pioneering” climate transition.

The company has already attracted investment from BlackRock (NYSE:BLK), the world’s largest asset manager, and commodities trader Hartree, it said.

SPACs raise funds to acquire a private company and take it public, and are the latest global craze in fundraising with record amounts funnelled to SPACs in the last two years.

($1 = 0.8405 euros)