New SPAC Fortistar Sustainable Solutions registered to offer 20 million units at $10 each to raise $200 million in an IPO.
Fortistar in the filing said it plans to focus on “companies whose business models contribute to the reduction of the carbon intensity in the energy, industrial, and transportation value chain, to directly or indirectly reduce greenhouse gas emissions or more generally contribute to a shift towards greater energy efficiency as a means of energy production and consumption.”
CEO Nadeem Nisar has longstanding relationships and significant experience in the power generation, energy infrastructure, carbon transition and renewables sectors, according to the filing. As a managing director of Fortistar, he serves as co-head of the investment team. He also serves on the board of directors of several of Fortistar’s portfolio companies, including Fortistar Methane 3 Holdings, TruStar Energy, Primary Energy, Carbonfree Chemicals and Braven Environmental.
The SPAC intends to list on the Nasdaq under FSSIU. Read more.
