Macquarie Joins Forces With New York Energy Disrupter
(Bloomberg) -- Macquarie Group Ltd. is teaming up with a New York-based venture firm to spot the next big thing in energy and infrastructure innovation.
The Australian bank will provide specialist knowledge and possibly financial backing for the project with R/GA Ventures, according to a statement Wednesday.
Macquarie’s New York studio will help develop so-called infratech companies -- which typically feature technology and data that can prove disruptive to the energy and infrastructure sectors. Eligible projects include those focused on energy storage and electric-vehicle charging networks. Applications will be accepted throughout the year starting this week.
“We’re not talking about doing a new technology out of the blue,” Michael Silverton, head of Macquarie Capital Americas, said in an interview. “We’re trying to be at the forefront of infrastructure as the asset class evolves.”
“If we cover all these small companies today, we know we’ll be ready when the industries mature,” Ralph Cho, Investec’s co-head of power & infrastructure in the Americas, said last week.
For Macquarie, the venture studio with R/GA will be a research laboratory that may yield new opportunities. R/GA has a similar partnership with Verizon Communications Inc.
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