Chamath Palihapitiya sent several clean energy- and sustainability-related SPACs higher Tuesday after announcing a new investment is coming.
What Happened: Palihapitiya tweeted he is “working on a new climate investment.” News that it will be a PIPE means it won’t be his current targetless SPACs, Social Capital Hedosophia Holdings IV (NYSE:
IPOD) or Social Capital Hedosophia Holdings VI (NYSE:
IPOF).
“It powers a lot of progress in an area that is very important to me and they partner with some great companies to do it,” Palihapitiya said. A one-pager will be coming soon, he said.
Earlier Tuesday morning, Palihapitiya said he was targeting seven areas of climate change investing. The areas are materials and mining, batteries, electrification, grid level storage, resiliency, project finance and recycling.
Related Link: Investors Want A Chamath Palihapitiya ETF And They Might Get It Soon
