In a breaking update from COP29, Desmos Capital Partners – established by former U.K. Energy Minister and U.K. Net Zero Review Chair, Chris Skidmore, who signed the U.K. net zero commitment into law in 2019 – has announced at COP29 that Desmos is establishing new regional centres in Paris, Amsterdam, Johannesburg and Toronto.
The announcement was made as Chris spoke at a COP British Chambers of Commerce (BCC) event in Baku, Azerbaijan, chaired by East Lancashire Chamber of Commerce CEO Prof. Miranda Barker OBE DL, who was at COP29 with the delegation of low carbon innovators from RedCAT.
Reacting to the news, Miranda commented:
“Developing and delivering fully commercialised low carbon technologies is a global endeavour – and as such the funding must work without borders and constraints.
“We, through our low carbon innovation agency RedCAT, are delighted to work in partnership with Desmos, and to bring our fast-commercialising low carbon innovators to an international base of funding expertise.”
This expansion will allow Desmos to meet the wider global interest in supporting companies focused on sustainable and low emissions technologies to scale up.
In his speech to the British Chamber of Commerce cohort of worldwide attendees at COP29, Chris Skidmore, in announcing the move, stated:
“[Desmos] wanted to help support and grow companies that share our vision that there is no future economy without a net zero economy, and no future business without sustainable businesses that put our future first and commit to being part of the solution. Not only by reducing emissions, but also in supporting emerging economies and their rapidly developing needs.
“Desmos is here to help and scale up companies who have proven technologies that can provide those solutions- get in contact if we can be of help, we want to hear from you.”
The creation of Desmos Capital Partners was announced at the Alternative Investment Management Association (AIMA) Net Zero conference in London in July of this year. Mr Skidmore, Chair of Desmos and a Founding Partner, stated that the organisation’s purpose was to help support companies involved in sustainable technologies and the energy transition to scale up and attract future capital investment for Series A raises and beyond.
Since then, Desmos has secured over ten mandates to raise well over £250 million in capital for companies across the world.
This includes a EUR 30 million raise for Meatable, a lab grown meat technology recently recognised by Time Magazine as one of the Top 200 Innovations of 2024.
Desmos’ latest expansion plans aim at establishing the firm as a leading global sustainable investment bank, specialising in supporting green and sustainable technologies across emerging markets, with future plans to also expand into the US in 2025.
Chris Skidmore said:
“Since announcing the creation of Desmos, I’ve been taken aback by the level of support but also by the tremendous demand from companies focused on the technologies and solutions of tomorrow to provide a sustainable future. They require guidance and support to deliver their scale up ambitions.
“Desmos’ model isn’t just about helping secure a raise- integral to its vision is to support our clients be connected to new potential opportunities to help them grow, providing that pastoral as well as advisory support. With this new expansion of our provision, I’m delighted to announce at COP29 -where a focus on private sector involvement is so crucial- that Desmos is here to play its role in facilitating the wider energy transition and the transformation towards a sustainable economy.”
Only earlier this week in its announcement that it had engaged Desmos as its corporate finance advisors for its next EUR 30m round, cultivated meat company Meatable’s CEO Jeff Tripiciani stated:
“[Desmos’] commitment to sustainability and emission reduction aligns seamlessly with Meatable’s vision for a more sustainable food system.
“By joining forces with a corporate finance advisor that shares our values, we’re reinforcing our dedication to not only revolutionizing food production but also ensuring that the journey towards growth is as responsible as our mission.
“It is a validation of our business model as we look to work together with the traditional food and meat industries to tackle the great challenges of our time.”
– Rt Hon Chris Skidmore OBE
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