ClimateRock
ClimateRock (NASDAQ: CLRC) is a Cayman Islands-incorporated SPAC headquartered in London that raised $78.75M in a 2022 NASDAQ IPO to acquire renewable energy assets and enabling technologies in OECD countries, and is currently pursuing a business combination with GreenRock, a renewable power, battery storage, and green hydrogen producer.
- Company typePublic
- Founded2022
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What ClimateRock does
ClimateRock is a Special Purpose Acquisition Company (SPAC) listed on the NASDAQ Global Market under ticker CLRC (units: CLRCU; warrants: CLRCW; rights: CLRCR), incorporated in the Cayman Islands with operational headquarters at 25 Bedford Square, London. The company completed its initial public offering in April-May 2022, raising $78.75 million through the sale of 7.875 million units at $10.00, with the express purpose of acquiring one or more businesses or assets in the sustainable energy sector located in OECD countries. ClimateRock does not develop proprietary technology; instead, its core offering is an acquisition and investment platform targeting renewable energy assets and enabling technologies — wind, solar, hydroelectric, energy storage, and green hydrogen — selected for large decarbonization potential and strong financial prospects.
The company's revenue model is that of a public SPAC investment vehicle rather than an operating business: it generates no product revenue, holding IPO proceeds in a trust until a business combination is completed, with the sponsor and team earning value only upon a successful de-SPAC transaction. ClimateRock has pursued multiple targets: in October 2022 it announced a definitive business combination with E.E.W. Eco Energy World PLC, a global utility-scale solar PV developer with a 10+ GW pipeline across Europe and Asia (which did not close and was effectively superseded); in December 2023 it signed an Agreement and Plan of Merger with GreenRock, an independent energy producer integrating renewable power with battery energy management and green hydrogen production, with a Form F-4 registration statement filed in January 2024. The proposed GreenRock transaction remains the active deal at the time of the source material.
The management team comprises Per Regnarsson (CEO, 30 years of renewable infrastructure finance across Moody's, JP Morgan, Merrill Lynch, and K2 Management), Charles Ratelband (Founder & Executive Chairman, founder of WindShareFund and RREG), Abhishek Bawa (CFO, formerly Head of Business Development at SolarPack and VP of Infrastructure Investments at ILFS), Niels Brix (Non-Executive Director and CEO of wind-turbine component supplier Valmont SM), Sean Kidney (Non-Executive Director and CEO of the Climate Bonds Initiative), and Dariusz Sliwinski (independent Board Director appointed May 2024). The stated customer segment — in a deal-flow rather than commercial sense — comprises renewable energy asset owners and developers seeking liquidity, capital exit, or a public-market listing in OECD jurisdictions.
ClimateRock firmographics
Firmographics- Name
- ClimateRock
- Legal name
- ClimateRock
- Website
- https://climate-rock.com
- Company type
- Public
- Founded year
- 2022
- Operating status
- Ipo
- Headcount range
- 1–10 employees
- Short description
- ClimateRock (NASDAQ: CLRC) is a Cayman Islands-incorporated SPAC headquartered in London that raised $78.75M in a 2022 NASDAQ IPO to acquire renewable energy assets and enabling technologies in OECD countries, and is currently pursuing a business combination with GreenRock, a renewable power, battery storage, and green hydrogen producer.
- Ownership category
- akta.pro rank
ClimateRock industry classification
Industry- Product category
- Renewable Energy Investment Management
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Corporate Impact / Climate & Sustainability CVC (FSANAHAJ)
- akta.pro secondary industries
- Carbon Markets & Climate Finance (Offsets, Allowances, Carbon Funds) (FSAAALAH), Climate Finance Strategy (CapEx planning, green finance, incentives & grants) (EUABAKAG)
Keywords
Where ClimateRock is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
ClimateRock business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- SPAC Management Fees and Performance Earnings: As a SPAC, ClimateRock generates revenue through management fees and ultimately through successful business combinations that create value for shareholders. The company seeks to acquire renewable energy assets that generate cash flows, with the goal of combining value growth and dividends to form attractive return profiles for investors.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
ClimateRock product offering
Product offeringCore offering
ClimateRock is a Special Purpose Acquisition Company (SPAC) listed on Nasdaq under ticker CLRC that raises capital through public markets to acquire and invest in world-class renewable energy assets and enabling technologies in OECD countries. The company's core activity is identifying, structuring, and executing business combinations with renewable energy asset sellers and developers across wind, solar, hydroelectric, energy storage, and green hydrogen sectors.
Product overview
ClimateRock operates as a single SPAC (Special Purpose Acquisition Company) investment vehicle focused on sustainable energy transitions. The company's core offering is its acquisition and investment platform for renewable energy assets and enabling technologies. ClimateRock seeks to acquire strategic renewable assets (wind, solar, hydroelectric, energy storage, green hydrogen) in OECD countries with strong decarbonization potential and financial prospects. The company has pursued multiple business combinations including GreenRock (battery energy management and green hydrogen) and EEW Eco Energy World (utility-scale solar PV developer with 10+ GW pipeline).
Differentiator
Problem solved
Functional benefit
Products and services
- ClimateRock SPAC Investment Vehicle
- Renewable Energy Asset Acquisition Services
Quantifiable outcome
- Management team has executed over 1 GW in renewable projects
- +1 more outcomes
Companies that use ClimateRock
Customer profileSegments1 record
Ideal customer profiles2 records
ClimateRock technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
ClimateRock partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- E.E.W. Eco Energy World PLCcoreClimateRock signed a definitive business combination agreement with EEW, an independent global developer of utility scale solar photovoltaic projects from greenfield to ready-to-build. The combined entity was expected to be listed on Nasdaq with EEW's founder Svante Kumlin as CEO and a project pipeline of more than 10 GW.
- GreenRockcoreClimateRock announced a proposed business combination with GreenRock, an independent energy producer focusing on integrating renewable power solutions with battery energy management and green hydrogen production. A registration statement on Form F-4 was filed in January 2024 in connection with this merger.
- WindShareFundminorCharles Ratelband, Founder and Executive Chairman of ClimateRock, is also the Founder and Managing Director of WindShareFund, which contributes to the energy transition by making renewable energy accessible through ClimateBonds and investing in wind energy directly.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
ClimateRock competitors and assessment
Company assessmentDirect peers
- Sustainable Development Acquisition I Corp: Climate-focused SPAC (merged with Heliogen in 2021) targeting sustainable energy and decarbonization businesses — directly comparable SPAC structure, OECD/global mandate, and renewable/climate tech target universe.
- E.E.W. Eco Energy World PLC: ClimateRock's original announced business combination target — global utility-scale solar PV developer with a 10+ GW pipeline in Europe and Asia; highly representative of ClimateRock's intended post-merger operating profile.
- ArcLight Clean Transition Corp II: Clean energy transition SPAC targeting clean energy and decarbonization businesses — directly comparable SPAC structure and renewable energy target universe.
- Tortoise Acquisition Corp II: Sustainable infrastructure SPAC (merged with Hannon Armstrong in 2022) focused on climate solutions — closely comparable SPAC structure and renewable/climate transition mandate.
- Spring Valley Acquisition Corp: Climate solutions SPAC (merged with Heritage Clean Energy) targeting renewable energy assets — directly comparable SPAC strategy and OECD-friendly clean energy focus.
- Spartan Acquisition Corp III: Sustainable mobility/clean tech SPAC (merged with Allego EV charging) — comparable SPAC structure targeting European sustainable infrastructure with similar OECD geographic bias.
Broad incumbents
- NextEra Energy Partners: Established US-listed yieldco owning contracted renewable energy assets — represents the long-term public-market destination and comparable operating model ClimateRock targets post-merger.
- Clearway Energy: US-listed renewable energy IPP/yieldco with wind, solar, and storage assets — provides public-market comparable for post-merger ClimateRock operating profile.
- Brookfield Renewable Partners: One of the world's largest publicly traded renewable energy platforms with hydroelectric, wind, and solar assets globally — incumbent benchmark for OECD-focused renewable yield vehicles.
- HA Sustainable Infrastructure Capital: Climate solutions investment firm providing capital for energy efficiency, renewable energy, and sustainability projects — directly comparable publicly traded vehicle targeting the same OECD climate transition opportunity set.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
ClimateRock social profiles
Digital presenceClimateRock financial estimates
Financial estimateRevenue estimate
Valuation estimate
ClimateRock leadership team
Management profileNumber of profiles
Profiles6 records
ClimateRock funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ClimateRock M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ClimateRock
What does ClimateRock do?
ClimateRock is a Special Purpose Acquisition Company (SPAC) listed on Nasdaq under ticker CLRC that raises capital through public markets to acquire and invest in world-class renewable energy assets and enabling technologies in OECD countries. The company's core activity is identifying, structuring, and executing business combinations with renewable energy asset sellers and developers across wind, solar, hydroelectric, energy storage, and green hydrogen sectors.
Is ClimateRock a public or private company?
ClimateRock is a public company. It is classified as public and is currently ipo.
When was ClimateRock founded?
ClimateRock was founded in 2022. It employs 1 to 10 people.
Where is ClimateRock based?
ClimateRock is headquartered in London, United Kingdom, in the Europe region.
How does ClimateRock make money?
One revenue line is on record: SPAC Management Fees and Performance Earnings.
Who are ClimateRock's main competitors?
Direct peers on record are Sustainable Development Acquisition I Corp, E.E.W. Eco Energy World PLC, ArcLight Clean Transition Corp II, Tortoise Acquisition Corp II, Spring Valley Acquisition Corp and Spartan Acquisition Corp III. Broad incumbents are NextEra Energy Partners, Clearway Energy, Brookfield Renewable Partners and HA Sustainable Infrastructure Capital.
Does ClimateRock have an API?
No public API is recorded for ClimateRock.
What industry is ClimateRock in?
ClimateRock's product category is Renewable Energy Investment Management. Its primary akta.pro industry code is FSANAHAJ, Corporate Impact / Climate & Sustainability CVC, with a secondary code of FSAAALAH, Carbon Markets & Climate Finance (Offsets, Allowances, Carbon Funds). Its NAICS code is 525 and its SIC code is 6211.