Abitibi Metals boosts resource by 62% at B26 polymetallic deposit in Quebec
Indicated resources increased to 11.3 million tonnes from 6.9 Mt.
NextEra Energy Resources, a subsidiary of LandGate Corp., raised $10 million in Series B funding, which the company will use to enhance its product suite, with a particular focus on solutions catering to financial institutions.
LandGate is a marketplace and data provider for commercial land and its resources including solar, wind, minerals, water, and carbon offsets.
In detail, the company is launching a new dashboard solution targeted specifically at the capital markets user base. The interface will generate metrics for investors who are assessing the projected performance of large energy and resource asset portfolios and present them with projected production, cash flow, and company net asset valuations (NAVs) updated live with new farm activity or electricity pricing data.
The idea is to allow traders and insurers to compare the future quarterly cash flows of renewable energy operators and risk them to weather catastrophes.
The platform also connects developers and investors to ‘ready-to-close’ leads on its online marketplace for all land-related transactions, including land sales, renewable royalty sales, carbon offsets, and land resource leases.
“Participants in the US’ $4-trillion per year energy and environmental land resources market are plagued by a lack of accurate data solutions and market intelligence for land, which prevents stakeholders across the market from making informed decisions about land transactions,” the Denver-based company said in a media statement.
“With LandGate, customers ranging from global financial firms looking to optimize their clean energy holdings to landowners across the US have the ability to determine comparative values of the full spectrum of resources and potential royalties for every parcel of land in the United States.”
According to the release, as of the first quarter of 2022, LandGate had already facilitated over $300 million of land resource deals nationwide across transactions for the development of solar, wind, carbon, minerals, mining, electric vehicle charging and water resources.
“By the end of the year, over 60% of all the land real estate agents in the US will be using LandGate’s land analytics, which helps them transact on energy and environmental deals and access corporate buyers,” the statement reads.
“This, combined with LandGate’s partnership with the Realtors Land Institute, and the thousands of individual landowners accessing the platform, enhances the network effect of the marketplace for land and its resources. Customers include NextEra, renewable energy developer Lightsource BP; renewable energy and sustainable infrastructure-focused real estate investment trust Hannon Armstrong; and Kimmeridge.”
