ClimeCo LLC (ClimeCo) is pleased to announce that Heritage Sustainability Investments, LLC, a subsidiary of The Heritage Group (collectively, Heritage), has purchased a minority stake in ClimeCo. This alliance allows ClimeCo to expand its staffing and project investments to assist companies focused on implementing solutions that meet their sustainability goals. With its comprehensive resources, ClimeCo is firmly positioned to handle market challenges, including rapid changes to climate policy, the formation of new carbon markets and exchanges around the world, and increasing pressure for organizations to improve ESG disclosure transparency.
"The synergies are endless," said Bill Flederbach, President & CEO of ClimeCo. "It is clear that our two firms can create incremental value together. I am proud to have Heritage as an investor in ClimeCo! This alliance allows us to enter 2021 with a great partner, a strong balance sheet, and fresh investment capital as we continue to lead in sustainability and the low carbon economy."
ClimeCo's relationship with Heritage began in 2015, as part of a California Compliance Offset project to destroy refrigerants and generate carbon offsets that qualify under the California Assembly Bill 32 cap-and-trade program. Over the years, this working partnership between ClimeCo and Heritage has evolved into an alliance focused on new greenhouse gas opportunities (GHG) and sustainability markets.
"We have been engaged with the ClimeCo team for years, and when an opportunity was presented to support further growth, we were excited to invest in Bill and his team," said Chad Peterson, President of Heritage Sustainability Investments. "We believe this investment will not only help grow Climeco but also provide a unique opportunity to service Heritage customers who are focused on improving their overall carbon-related goals."
Heritage's investment in ClimeCo supports its commitment to be a leader in environmental sustainability, a core tenant to Heritage's environmental service offering. Heritage recognizes that combining its leadership in holistic waste management and beneficial reuse with ClimeCo's expertise in climate change policy, sustainability program development, and emission reduction project implementation, provides a unique, turnkey service offering to the market.
About ClimeCo
ClimeCo is a respected advisor, transaction facilitator, and trader of environmental commodity market products. We specialize in regulated carbon, voluntary markets, sustainability, and project development and financing of GHG abatement and mitigation systems. For more information or to discuss how ClimeCo can drive your organization's value, contact us at 484.415.0501, info@climeco.com, or through our website, climeco.com.
About The Heritage Group
Founded in 1930, The Heritage Group (THG) is a fourth-generation family-owned business managing a diverse portfolio of companies specializing in heavy construction and materials, environmental services, and specialty chemicals. With more than 5,000 employees and 30 operating companies worldwide, THG aims to create a safer, more enriching and sustainable world by harnessing the power of family.
