The Prax Group has announced that its Americas team, based in Houston, has successfully launched a decarbonisation initiative with NOVA Infrastructure, an infrastructure investment firm that invests in environmental services, transportation, energy and energy transition, and communication sectors in North America. As part of the initiative, portfolio company telMAX, based in Ontario in Canada, has become one of the first telecommunications providers in the world to achieve 100% carbon neutral operations.
The strategic partnership between the Prax Group and NOVA Infrastructure was initiated to identify decarbonisation opportunities across NOVA’s businesses, evaluating potential energy transition and decarbonisation infrastructure plays across multiple industry verticals in the middle market segment 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. The Prax Group is globally committed to working with clients to develop a transactional execution framework that will leverage our expertise in developing commercially sustainable decarbonisation 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.”
Allison Kingsley, NOVA Infrastructure Founder & Partner, said of the partnership: “We are grateful to Ash Redkar and his team at the Prax Group for assisting us with this effort. After a thorough due diligence process, it was clear that their capabilities in structuring and executing actionable decarbonisation strategies made them an excellent fit for NOVA to partner up with potential energy transition plays in North America.”