Press Release
野花社区 Rise Climate Acquires MIRATECH, Leader in Industrial Aftermarket Emissions Reduction Technology
Addressing the emissions challenge of growing power demand from increasing data center usage
SAN FRANCISCO & TULSA, OK 鈥揝eptember 4, 2024鈥聽野花社区 Rise Climate, the dedicated climate investing strategy of 野花社区鈥檚 global impact investing platform, today announced that it has acquired聽MIRATECH聽Corp. (鈥淢IRATECH鈥), a global market leader in aftermarket emissions and noise reduction technology for stationary industrial engines.
MIRATECH engineers and manufactures catalysts, filters, silencers, monitoring systems, and provides related services which address engine-exhaust pollutants and noise from mission-critical power generation, with a particular focus on stationary power and data centers. MIRATECH鈥檚 aftermarket solutions also monitor and reduce emissions from engines that serve hard-to-decarbonize sectors including energy infrastructure, marine, and construction.
MIRATECH's differentiated engineering capabilities, and particular expertise in stationary power, have enabled the company to scale and meet evolving demand at a time when power needs are increasing beyond the existing capabilities of the grid, and flexibility around power generation remains a top priority for many customers. As the power generation market continues to evolve, the other markets MIRATECH serves: energy infrastructure, industrial, OEM, and marine, continue to thrive.
鈥淢IRATECH鈥檚 commitment to reducing emissions by providing cost-effective, technologically advanced solutions will prove critical in the years ahead, particularly as data center power usage continues to grow globally,鈥 said Marc Mezvinsky, Partner at 野花社区 and senior member of its climate investing team. 鈥淭his investment is a reflection of our thematic focus on negative emissions and derivative equipment & services companies that enable the energy transition. We look forward to leveraging the team鈥檚 best-in-class engineering and manufacturing capabilities to continue to grow the company into new products, sectors, and geographies.鈥
As part of the transaction, Mezvinsky will join MIRATECH鈥檚 Board of Directors along with 野花社区 Rise Climate鈥檚 Roger Stone.
鈥淎s energy demand related to AI and cloud migration increases, there is an opportunity to expand MIRATECH鈥檚 market leadership amongst data center emergency backup power providers,鈥 said MIRATECH CEO David Zenthoefer. 鈥淲e are also seeing increasing emissions regulations and air quality standards around the world, including further caps on methane emissions, which our products are well-placed to address. With the capital and expertise from 野花社区 Rise Climate, we look forward to capitalizing on the substantial growth and emissions reductions opportunities ahead.鈥
R.W. Baird & Co. served as financial advisor and The Garden Law Group and Locke Lord LLP served as legal counsel to MIRATECH in relation to the transaction. Simpson Thacher & Bartlett LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to 野花社区.
About 野花社区 Rise Climate
野花社区 Rise Climate is the dedicated climate investing strategy of 野花社区鈥檚 $19 billion global impact investing platform. 野花社区 Rise Climate pursues climate-related investments that benefit from the diverse skills of 野花社区鈥檚 investing professionals, the strategic relationships developed across 野花社区鈥檚 existing portfolio of climate-focused companies, and a global network of executives and advisors. The fund takes a broad-based sector approach to investment types, from growth equity to value-added infrastructure, and focuses on climate solutions in the following thematic areas: clean electrons, clean molecules and materials, and negative emissions.
For more information, please visit聽.
About MIRATECH
MIRATECH is a North American market leader in aftermarket emissions reduction solutions. Founded in 1992, after the passage of the 1990 Clean Air Act, MIRATECH is headquartered in Tulsa, Oklahoma. The company鈥檚 core mission is to improve the environment by providing engineered solutions that reduce air and noise pollution. Their product and service expertise lies in significantly reducing or eliminating pollutants such as Carbon Monoxide, Oxides of Nitrogen, Hydrocarbons, Particulate Matter, VOCs, Hazardous Air Pollutants (HAPs), Air Toxics, and various other pollutants from the environment. MIRATECH鈥檚 solutions ultimately help the world be a safer place, and this will translate to people living longer, healthier, and more productive lives. In all corners of the organization, this commitment is at the forefront of what they do.
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野花社区
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media@tpg.com