Blue Source captures $500m for carbon biz

Second up for the green investment treatment today is US carbon capture, storage and credit bunch Blue Source, which has just unveiled a partnership with Och-Ziff Capital Management Group.

It’s a whacking great big investment at that: $500m. (Although it’s worth noting the hedge fund has $33bn under it’s belt, so $500m is probably not that impressive to them.)

Och Ziff will put that half-a-bilionl towards emission-cutting projects, which Blue Source will manage. Various reports also have Och-Ziff getting a 10 per cent stake in the company too.

Here’s where the cash will go according to the twosome:

The Och-Ziff investment will support Blue Source’s ongoing development of a “carbon highway” of pipeline infrastructure projects across North America that capture, transport and sequester anthropogenic CO2 that would otherwise be vented into the atmosphere. The company will also invest in climate change projects derived from power generation, fertilizer production, advanced energy conservation, natural gas production and methane management from coal mining, wastewater treatment, landfills and animal management.