Bloomberg buys energy data provider
10 December 2009 | 7874 views | 0
Bloomberg has acquired New Energy Finance, a UK-based provider of news, data and analysis on renewable energy, carbon markets and nuclear power. Financial terms of the deal were not disclosed.
New Energy Finance offers subscription-based news, data and research to banks, private equity and venture capital investors and others involved in clean energy and the carbon markets.
Founded in 2004, the firm has over 130 staff based in London, Washington DC, New York, San Francisco, Beijing, Shanghai, New Delhi, Hyderabad, Cape Town, Sao Paulo, Sydney and Perth.
Peter Grauer, chairman, Bloomberg, says: "Carbon and clean energy issues touch every segment of the global economy, and are of increasing importance to our customers. Bloomberg's vision is to be the leader in information, analytics and trading architectures to support low-carbon energy solutions."
Guy Turner, director, carbon market research, New Energy Finance, adds: "Global carbon markets are here to stay. This year will see trading volume of around $120 billion, and we expect this figure to grow to approximately $2 trillion by 2020. New Energy Finance's carbon market models are the most trusted in the world, and working with Bloomberg we will be able to get them where they are needed - into the hands of traders and other market players."
The acquisition comes just weeks after Bloomberg closed on the deal to buy ailing magazine publisher BusinessWeek. In a video interview with the FT on the day the deal completed, Bloomberg chairman Peter Grauer promised a round of aggressive investment as the privately-owned data group sought to broaden its business portfolio. The company had recently looked at 70 investment opportunities, he said, and would fund "a considerable amount of them".