Riverston Holdings LLC traveled to Shale Boom with huge profits. Now the New York Investment Company is betting on fossil fuels that will reduce demand for fossil fuels.
Investors have issued four blank checks worth nearly $ 1.3 billion to Rivston. According to public investors, when investors gave large sums of money to Riversston, some never broke, while others lost approximately 90%.
Rivership is known for its energy-intensive private equity funds. For the green effort, the company uses special procurement companies or SPAC. These empty-check companies collect cash from stock market investors and merge with private companies to make it available to the public. SPACs have invested heavily in the clean energy business this year, surpassing the record by investing an estimated $ 120 billion.
So far, Represton has made four clean-up SPACs. Hyzon Motors Inc., the company’s first hydrogen fuel-cell truck company. Electric and petrol-powered vehicles were among the hottest SPAC investments earlier this year, but have recently fallen. Hyzon shares have fallen by more than half.
Other Riverstone SPACs for electric-vehicle charging company Tritium Holdings PT Ltd and Solid Power Inc., a solid-state battery company supported by Ford Motor Company and BMW AG. Those deals are yet to be closed, but the Riverstone deal is among the fastest in the SPAC market.