Law firm Lander & Rogers has advised RHI Magnesita, a global manufacturer of refractory materials used in high-temperature industrial processes, on its multi million-dollar investment in carbon capture technology company, MCi Carbon.
The investment marks the beginning of a strategic partnership between Vienna-headquartered RHI Magnesita and Canberra-based cleantech MCi Carbon. RHI Magnesita intends to deploy MCi's technology ─ which uses a chemical process called mineral carbonation to convert carbon dioxide emissions from industrial processes into building materials ─ to decarbonise certain elements of RHI Magnesita's operations.
The Lander & Rogers team advising RHI Magnesita on the transaction was led by partner Simon Davidson and special counsel David Tink, drawing on their significant cross-border experience and understanding of technology sector investing.
"We're delighted to have assisted RHI Magnesita in this landmark investment and partnership," said Mr Tink. "The deal comes at an important time for RHI Magnesita as it progresses its goal of becoming a carbon neutral business; and for MCi Carbon as it looks to scale up its technology and facilities."
According to Mr Davidson, despite investor caution and market uncertainty slowing the flow of funds to many sectors of the tech industry, "climate-tech investing remains an attractive option for investors looking to forge values-driven collaborations with startups and scaleups finding new ways to achieve net zero". Mr Davidson and Mr Tink congratulated RHI Magnesita on the investment and looked forward to continuing to partner with the business in the future.
The transaction is one of several strategic investments and capital raises Lander & Rogers has acted on alongside both investors and founders in recent months, including AirTree's Series A investment in ESG focused FairSupply, QuintessenceLabs' $30 million series B equity fundraising and transport technology and compliance company Logmaster's undisclosed capital raise.
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