NOVA Infrastructure Announces Launch of Decarbonization Initiative in Partnership with the Prax Group
PORTFOLIO COMPANY TELMAX BECOMES ONE OF THE FIRST TELECOMMUNICATIONS PROVIDERS IN THE WORLD TO ACHIEVE 100% CARBON-NEUTRALITY DESIGNATION
New York, NY – December 15, 2021 – NOVA Infrastructure (“NOVA”), an infrastructure investment firm that invests in environmental services, transportation, energy / energy transition, and communications sectors in North America, is pleased the announce the launch of a decarbonization initiative across its various portfolio companies. As part of this initiative, portfolio company telMAX, based in Ontario, Canada has commenced 100% carbon-neutral operations, becoming one of the first telecommunications providers in the world to achieve that status.
NOVA is also pleased to announce a strategic partnership with the London-based Prax Group to identify decarbonization opportunities across NOVA’s businesses and evaluate potential energy transition and decarbonization infrastructure plays across multiple industry verticals in the middle-market segment in North America.
“Our mission at NOVA is to be responsible stewards of our investors’ capital and the environment,” said NOVA Founder and Managing Partner Chris Beall. “These principles are straightforward, fundamental, and at the core of every decision we make. Our commitment to decarbonize our operations is a tangible demonstration of our belief in these principles.
Given infrastructure’s status as the backbone of the global economy, along with the focus of citizens, governments and corporations on reducing carbon emissions from the use of fossil fuels, it is not surprising that investors are seeking to understand better its role in decarbonization and sustainability. From the energy we consume to the transportation networks we rely on, we believe that sustainable infrastructure is well placed to help in delivering solutions that reduce global emissions in the coming decades”
“We are grateful to Ash Redkar and his team at the Prax Group for assisting us with this effort,” said Allison Kingsley, NOVA Founder & Partner “After a thorough due diligence process, it was clear that their capabilities in structuring and executing actionable decarbonization strategies made them an excellent fit for NOVA to partner up with potential energy transition plays in North America.”
Ash Redkar, Head of the Prax Group’s Crude & Carbon Americas Team in Houston, said: “NOVA shares our commitment to PEAR (People, Environment, Assets, Reputation) values and actionable ESG efforts. Prax is globally committed to working with clients to develop a transactional execution framework that will leverage our expertise in developing commercially sustainable decarbonization strategies. We seek to position our partners like NOVA and ourselves at the forefront of the global energy transition and sustainable innovation in the years ahead. In addition, we will continue to engage with our partners and customers in identifying new avenues to achieving a lower-carbon future.”
About NOVA Infrastructure
Founded in 2017, NOVA Infrastructure is an infrastructure investment firm that invests in environmental services, transportation, energy / energy transition, and communication sectors in North America. NOVA focuses on differentiated, value-added strategies in the middle market infrastructure segment. NOVA pairs the best downside protection features of the infrastructure asset class with operationally-focused, value-added upside strategies. NOVA is signatory to the UN Principles for Responsible Investment.
About The Prax Group
Headquartered in the UK, the Prax Group is a leading British, multi-national independent oil refining, storage, distribution, retail and integrated supply and optimization conglomerate dealing in petroleum products and biofuels. The Group has established principal offices in London, Houston and Singapore, and additional branch offices across the world. The Prax Group strives to limit its carbon footprint and to embrace the advent of transitional fuels.