CAI to Deploy up to $300 Million to Accelerate Digital Infrastructure Transition to Net Zero
Initial Investment in Switch, Leading Operator of Renewable Powered Data Centers
MILL VALLEY, Calif. & BOCA RATON, Fla.--(BUSINESS WIRE)--May 9, 2023--
Climate Adaptive Infrastructure (“CAI”) and DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge”) today announced a decarbonization partnership to accelerate the Digital Infrastructure ecosystem’s transition to Net Zero. CAI, an infrastructure investment firm specializing in low-carbon real assets in the energy, water and urban infrastructure sectors will work with DigitalBridge to identify, develop and invest in sustainability-focused initiatives and projects that complement DigitalBridge’s existing and future investments.
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As part of the partnership, CAI has allocated up to $300 million of capital to support strategic opportunities identified by CAI and DigitalBridge. CAI’s first investment under the initiative is in Switch, a 100% renewable powered data center platform, which a DigitalBridge-managed investment entity acquired last year. In addition, the parties have identified other potential investment opportunities within the DigitalBridge portfolio that address measurable decarbonization and water and energy resilience.
As a thought leader in the climate adaptive infrastructure industry, CAI will work with DigitalBridge to implement technologies from within and beyond the DigitalBridge portfolio. These include deployment of utility-scale solar and wind, low-impact hydro, electrochemical and pumped storage, water conservation and re-use, renewable biodiesel and green hydrogen, as well as the advanced climate impact measurement strategies developed by CAI. These projects, which may be financed, built, owned and operated by CAI, are expected to support DigitalBridge’s Net Zero 2030 commitment, and to drive economic efficiency across the DigitalBridge digital ecosystem.
“The DigitalBridge team is broadly recognized for their success in the sector and, through this initiative, continues to demonstrate forward thinking around further decarbonizing their ecosystem,” said Bill Green, Managing Partner of CAI. “We are excited to be launching this innovative partnership with DigitalBridge.”
“We are pleased to partner with Bill and the entire CAI team to accelerate DigitalBridge’s path towards a more sustainable digital infrastructure ecosystem,” said Marc Ganzi, CEO of DigitalBridge.
About Climate Adaptive Infrastructure
Founded in 2019, Climate Adaptive Infrastructure (CAI) is an infrastructure investment firm specializing in low-carbon real assets in the energy, water and urban infrastructure sectors. The firm seeks investments across core infrastructure assets that improve the sustainability and quality of life for the world’s large and growing population. CAI selects, finances, constructs and manages its investments using climate screens and metrics designed to enhance investment returns and reduce carbon emissions. For more information, please visit: www.climateadaptiveinfra.com.
About DigitalBridge Group, Inc.
DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in New York, Los Angeles, London, Luxembourg and Singapore. For more information, visit: www.digitalbridge.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include, whether DigitalBridge will realize any of the anticipated benefits from the partnership with CAI, whether DigitalBridge and CAI will identify and complete investments that meet the sustainability goals described in this release, whether the investments and projects that are selected and pursued will support DigitalBridge’s Net Zero 2030 commitment and drive economic efficiency and other risks and uncertainties, including those detailed in DigitalBridge’s Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and its other reports filed from time to time with the U.S. Securities and Exchange Commission. All forward-looking statements reflect DigitalBridge’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. DigitalBridge cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. DigitalBridge is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and DigitalBridge does not intend to do so.
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Managing Director, Head of Public Investor Relations
Joele Frank, Wilkinson Brimmer Katcher
Jon Keehner / Aura Reinhard
Bill Green, Managing Partner
Source: DigitalBridge Group, Inc.