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Singapore's TRIREC launches USD100m decarbonisation fund with Thai firm

Singapore's TRIREC and Thailand's INNOPOWER announced their partnership today to launch a growth-stage venture fund, Energy Ignition Ventures, aimed at advancing decarbonisation solutions. This move supports global efforts to achieve a net-zero economy by 2050. The fund will target companies demonstrating significant decarbonisation impact, proven product-market fit, and early commercial traction, particularly within the key GHG-emitting sectors: Food and Agriculture, Mobility, Buildings, Industries, and Energy. TRIREC and INNOPOWER are jointly committing initial capital to Energy Ignition Ventures, aiming to raise at least USD100m in the fund's first round. The fund is committed to fostering innovation within the decarbonisation space, driving growth and creating opportunities for its portfolio companies to succeed.

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