Tokio Marine HCC invests into CAD$4.3m funding round secured by Clir

Tokio Marine HCC has invested into a CAD $4.3 million funding round, secured by Clir Renewables (Clir), a renewable energy intelligence platform for wind and solar.

Longbow Capital Inc., ArcTern Ventures and BDC Capital also participated in the funding round too.

Clir confirmed that this round of financing will allow the company to further develop its products.

Gareth Brown, CEO, Clir Renewables, commented: “We are very pleased with the continued confidence in Clir from the world’s leading energy and technology investors. Technology and data are integral to the growth of the renewable energy industry.

“We’re looking forward to being able to further the impact of our products and continue to help drive returns to accelerate renewable energy production across the globe. This is the best possible endorsement of our platform and the value it brings to the industry.”

Susan Rivera, CEO, Tokio Marine HCC, said: “Clir’s data analytics continue to be invaluable when managing risk in the renewables market. As the company grows and innovates, we’re confident that it will continue to expand its value proposition for both clients and stakeholders. As a company with its own environmental, social, and governance (ESG) goals in the renewable energy space, Tokio Marine HCC is pleased to increase its funding of Clir and looks forward to continuing to support Clir’s mission to accelerate the clean energy transition.”

Established in 2017, Clir provides critical data and technology to support asset owners with actionable insights to maximize returns, minimize risks and optimize overall commercial performance of wind and solar assets.

In addition, the company has the largest dataset of operations and risk data, which enables increased portfolio performance for its customer base of top-tier infrastructure fund managers and independent power producers across Europe, North America, South America and Asia.

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