Penningtons Manches Cooper has advised Spectainer Pty Ltd, an Australian intermodal innovation and industrial technology company, on a development cooperation agreement and development funding agreement with funds managed by Climate Fund Managers (CFM).
The partnership represents USD 2 million in development funding and forecasted construction funding of USD 75m for an estimated fleet of 20,000 COLLAPSECON containers.
Spectainer has developed a next generation shipping container ecosystem centred on its patented collapsible shipping containers, COLLAPSECON, and supported through an integrated internet-of-things security and location device, SEACON. This ecosystem is designed to reduce the impact of empty containers across the global supply chain.
Climate Fund Manages is backed by the FMO Entrepreneurial Development Bank (Holland) and Sanlam Infraworks, as part of the Sanlam group of South Africa, Climate Fund Managers is focused on mitigating and building resilience to climate change in areas most affected.
Nicholas Press, CEO of Spectainer stated that “The financial partnership between Spectainer and CFM supports the delivery of the largest orderbook of collapsible containers to date. I would like to thank everyone involved in the transaction for their hard work and contributions to make this milestone event possible”.
Spectainer’s CFO, Hans van der Vlugt, added “Our legal counsel at PMC have done an outstanding job. This transaction shows the financial resourcefulness that is possible within sustainable investment. We look forward to a long and fruitful relationship with CFM”.
The Penningtons Manches Cooper team was led by partner Nick Dingemans (Singapore). James Mann, Associate (London) supported Nick on the transaction. Climate Fund Managers was advised by Nick Grambas of Johnson Winter & Slattery in Melbourne supported by Alexandra Neovius, Associate (Sydney).
Information on COLLAPSECON and SEACON can be found at:
Information on the Climate Fund Managers and investment in Spectainer can be found at:
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