Emissions-tracking firm ASUENE eyes acquisitions after $87 million funding round

Tokyo-based emissions-tracking company ASUENE closed an $87 million financing round headed by Decarbonization Partners, the BlackRock and Temasek joint venture. CEO Kohei Nishiwada sees the recent U.S. decision to drop corporate emissions reporting mandates as a chance to expand through acquisitions, noting that most startups in the niche are struggling for growth. He added that, aside from a few market leaders, many targets can be bought at reasonable valuations, especially in the United States.

In the last two years ASUENE has purchased eight smaller climate-tech firms operating in the United States, the European Union and Asia, and it is scouting further candidates. The company aims to use this consolidation strategy to support an initial public offering within the next two years.