Home Supporting structure Context Labs Announces Closing of Strategic Investor

Context Labs Announces Closing of Strategic Investor


CAMBRIDGE, Mass., Feb. 09 10, 2022 (GLOBE NEWSWIRE) — Context Labs, an Enterprise Data Fabric technology company in Cambridge, Massachusetts, and Amsterdam, today announced the closing of a US$28 million financing with strategic investors BP Energy Partners ( BPEP), Equinor Ventures, KPMG LLP (USA), Shamrock Ventures, Neglected Climate Opportunities LLC and i(x) investments.

Concurrently, Context Labs announced a joint venture (Context Labs Energy) with BPEP to provide a comprehensive trusted data solution for the energy sector for measuring, monitoring and mitigating decarbonization. The company’s DaaS™ (Decarbonization as a Service™) platform, based on the Context Labs Immutably™ technology stack, aims to leverage its core machine learning/AI capabilities with the deep industry relationships developed by BPEP over the decades.

“We are thrilled with the validation and support of these globally significant companies in our mission to provide transparency and trust in the data that underpins the march towards global decarbonization,” said the Founder and CEO of Context Labs, Dan Harple. “Our Immutably™ data fabric platform enables trusted, digitally-proven, cryptographically-attested data as the foundation of Climate Tech. This trusted ‘data supply chain’ will reduce greenwashing, transform the ESG into a quantitative, data-driven tool and will accelerate the deployment of trillions of capital to fight climate change.”

This announcement from strategic investors and joint venture partners comes at an opportune time after COP26 and increased demand from energy sector stakeholders to apply asset-grade guidelines to their disclosure and transition to net zero. Context Labs’ Data Fabric technology stack, built on a contextualized distributed ledger, is key to supporting this acceleration. Making the provenance and veracity of data irrefutably reliable will better inform decisions about the transition to net zero.

“Power industry players want to make practical and rewarding investments that demonstrate a clear commitment to reducing carbon emissions. These investments must promote transparency and trust with stakeholders to succeed in the energy transition,” says Nathan Brawn, Managing Director of BP Energy Partners. “We are delighted to partner with the world-class team at Context Labs to deliver a robust solution that meets these increasing environmental performance, compliance and reporting requirements.”

“Equinor Ventures is excited to invest in Context Labs as they develop digital tools to support decarbonization and certification in energy markets. Verifiable, high-quality energy system information is critical to driving the energy transition,” said Timothy Krysiek, CEO of Equinor. Ventures Americas.

“All organizations are on a unique decarbonization journey and, working with technology solutions from Context Labs, KPMG IMPACT will best help leaders move from strategy to implementation and transformation to achieve their ESG goals. said Rob Fisher, head of KPMG US IMPACT. “Context Labs’ blockchain technology will enhance the sophistication and rigor of ESG reporting, helping organizations actively measure and tell their ESG story to all stakeholders to gain an ESG advantage.”

“Context Labs’ mission began with our founder’s research at MIT on innovation ecosystems, advancing a framework for change called Pentalytics™. Context Labs applied this framework in its enterprise data fabric technology Immutably ™ to show the global interconnectedness of climate data. This, in effect, builds a “climate graph” of the planet that connects companies and their sites with their climate and environmental impacts. This creation of new contextual knowledge can now be quickly taken to market with our world-class partners to accelerate global decarbonization,” said Bruce Hathaway, Partner, Shamrock Ventures.

Ramsay Ravenel, Director of Neglected Climate Opportunities, added: “In a world of increasingly bold claims about climate progress, it will be important to identify and track real progress, not public relations. Context Labs will help customers, partners and investors do just that.”

The Right Honorable Nick Hurd, Chairman of i(x) Investments, said, “We are delighted to be an investor in Context Labs. It is at the forefront of eco-friendly business investing with its rigorous, industry-standard benchmarks for carbon-reducing activities — something the world desperately needs. .

“i(x) Investments believes in Context Labs’ ability to drive verifiable change in energy transition and sustainability in the built environment. We look forward to seeing Context Labs continue its impact through this new investment round of all of its strategic partners. We look forward to exploring opportunities for i(x) investments and Context Labs to collaborate on scalable ventures.”

About Context Labs

Context Labs provides solutions for customers who demand trusted provenance of their data, tracking of veracity throughout the data supply chain, and a requirement for trusted information. Its goal is to provide the world’s trusted data fabric platform for Asset Quality Data (AGD), using its ImmutablyMT Data Fabric platform, deploying machine learning, AI-based asset level analysis (AGA), and crypto blockchain technologies, for contextual insights. It is dedicated to researching, organizing and contextualizing global ESG information, enabling data to become trusted, shared and used as AGD to deliver insights and solutions through AGA, which informs markets. Context Labs was formed from research at MIT, and its leadership team has been instrumental in the large-scale growth of the Internet, in previous companies.

Contact: [email protected] | www.contextlabs.com | @contextlabsbv

Strategic partnerships and investors

BP Energy Partners, LLC (BPEP) is a growth-oriented investment firm based in Dallas, Texas. Since its inception, BPEP has invested in companies that provide practical solutions focused on decarbonization and environmental sustainability. BPEP actively invests in new opportunities that accelerate energy transition and decarbonization efforts in the energy sector and other hard-to-decarbonize sectors, including utilities, manufacturing, chemicals, metals and mining , materials, agriculture, transport and recycling. BPEP currently manages over $560 million in committed capital. For more information, visit www.bpenergypartners.com.

Equinor Ventures is the venture capital arm of Equinor dedicated to investing in ambitious early-stage and growing companies. We believe that the innovation, creativity and agility of start-ups can drive change and move the energy sector towards a low-carbon future. Equinor is a leading energy company with more than 21,000 people committed to providing affordable energy to societies around the world and playing a leading role in the energy transition. For more information, please visit Equinor Ventures.

KPMG srl is the US member firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. KPMG’s global organization operates in 145 countries and territories and has nearly 236,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is an English private company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

KPMG is widely recognized as a great place to work and build a career. Our employees share a sense of purpose in the work we do and a strong commitment to community service, inclusion and diversity, and eradicating illiteracy among children. For more information, visit www.kpmg.com/us.

Shamrock Ventures is the main founding investor of Context Labs BV. Operating its own private intellectual property and business model incubator in Amsterdam and Cambridge, Massachusetts, the company works with leading inventors, entrepreneurs and technologies to create innovative and sustainable businesses that have global impact.

Neglected Climate Opportunities LLC of the Grantham Environmental Trust

Neglected Climate Opportunities, LLC is a mission-driven venture capital vehicle that is a wholly owned subsidiary of Jeremy and Hannelore Grantham Environmental Trust, a US public charity. NCO invests in climate mitigation efforts that redesign energy systems, improve soil health, spare ocean acidification, and directly capture carbon from the atmosphere. The Grantham Environmental Trust and its subsidiary, the Grantham Environmental Protection Foundation, believe that innovation and technology are the best hope for a sustainable future. The Grantham Trust and Foundation has focused almost exclusively on climate change mitigation for over 15 years and currently supports over 80 grantees and 40 portfolio companies across the world.

i(x) investments, founded in 2015, is a permanent capital holding company for investors who wish to create long-term economic growth in combination with a positive and measurable social impact. i(x) believes that the world’s greatest problems are also the greatest market opportunities and invests in areas where human needs are great. i(x)’s current holdings focus on energy transition and sustainability in the built environment. The company uses a multi-strategy investment approach across the entire capital structure. For more information, please visit i(x) investments.

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