US$161.62 million cornerstone commitment signed for Decarbonisation Infrastructure Fund 

The European Investment Fund (EIF) has signed a EUR150 million (US$161.62 million) cornerstone commitment to the White Summit Capital Decarbonisation Infrastructure Fund II (WDIF II).

EIF's significant commitment to the Fund reflects the important contribution WDIF II is expected to make towards advancing the EU's objectives. These include the transition to clean energy, addressing the consequences of climate change, and ensuring security of energy supply, among others.

WDIF II, which has a target size of EUR500 million (US$538.7 million), will help address the funding gap in the energy transition middle market by supporting infrastructure companies across Europe to scale up their asset base and support their development.

The Fund will invest in approximately 10 companies with strong management teams, in three key areas where White Summit Capital has a proven track record: (1) Renewables Integration, (2) Sustainable Transportation and (3) Decarbonisation of Industries. These investments will draw upon the White Summit Capital team's unique combination of investing, greenfield, industrial, and energy management expertise.

White Summit Capital expects the investments made by WDIF II to comprise an initial acquisition, followed by further capital deployment through growth or development.