JOG Capital, a private equity firm with a 14-year track record managing more than USD1.3 billion in energy investments, has completed a corporate transition and rebranding to become Carbon Infrastructure Partners (CIP).
CIP is among the first investment firms focused on solving the dual challenge of how to meet global energy demand for 7.7 billion people while rapidly reducing carbon emissions. CIP believes the solutions to these challenges lie in understanding and investing in the entire carbon lifecycle; from hydrocarbon-based energy production through to carbon capture, utilisation, and storage back into the subsurface.
Carbon Capture and Storage (CCS), an existing process and technology that reduces CO2 emissions, is widely recognised as one necessary approach to help achieve economy-wide emission reductions. The business and investment opportunity for CCS arises from this technology that returns carbon to the ground and is experiencing regulatory tailwinds and bi-partisan support both in the US and Canada. This represents a paradigm shift, as the US government subsidises the capture and storage of carbon to incentivise and encourage net zero commitments – which CIP believes represents version 2.0 of viable, actionable, and tax-advantaged climate solutions.
Furthermore, CIP believes rapidly growing demand for high-quality voluntary carbon offset credits, combined with significant additional policy incentives, activates business models for carbon removal assets to directly remove CO2 from the atmosphere.
“As established oil and gas investment professionals, we understand the full lifecycle of carbon and we seek to be market leaders on climate-driven carbon management to meet global energy demands while rapidly reducing carbon emissions,” says Craig Golinowski, President and Managing Partner of CIP.
“We recognise the tremendous efforts and advancements being made by the wind, solar, and electric vehicle industries and are proud that CCS will further enable deep electrification of the economy. By combining our oil and gas technical skills with strong policy incentives for CCS, verified carbon accounting, and market demand for net-zero solutions, we seek investments that address the underweight energy and real assets issue currently faced by institutional investors.”
Seizing on this opportunity and answering the call for clean, firm energy alternatives, JOG Capital’s team of oil and gas investment veterans, together with its advisors, are working to unlock capital and sequester carbon. CIP believes its differentiation and value-add lies in its extensive network and the niche skillset required to fundamentally transform the world’s carbon-based energy system – which dovetails closely with their experience and expertise as veteran oil and gas industry professionals.
Furthermore, members of the CIP team have knowledge and insight through ownership and board of director’s representation in the Weyburn carbon capture and storage project in Saskatchewan, Canada, providing the firm with demonstrable insight into the challenges and opportunities in owning and operating CCS assets.
CIP is led by its two Managing Partners, Craig Golinowski, President & Managing Partner, and Ryan Crawford, Managing Partner, along with Kel Johnston, Managing Director, and David Moyes, Partner.
Craig and Ryan have worked together for 14 years and bring 40 years’ combined experience in oil and gas investing and private equity fund management. They have directly managed USD936 million of energy private equity fund capital across 18 distinct platform investments. They bring significant experience to structuring complex financial transactions and have broad exposure to direct oil and gas operations and governance roles in connection with large multi-faceted projects. Complementing this experience is a deep knowledge of ESG planning, execution, and monitoring.
Kel Johnston is a professional geologist with more than 38 years of technical and financial experience in the oil and gas industry in Canada and the United States, including operatorship of oil and gas assets through direct ownership. Over the past 28 years, Kel has been involved as a founder, executive, or board member in more than 10 companies.
David Moyes spent 11 years at Goldman Sachs where he started a private equity analytics team, led technical analysis in support of the launch of a USD500 million specialised secondaries vehicle, and undertook portfolio monitoring for complex customised separate accounts. Dave attended the Stanford Graduate School of Business.
The investment team is supported by Peter Bannister and Daryl Gilbert, who act as Senior Technical members, both of whom have worked with other CIP team members for many years. Retired Canadian Senator for the Province of Alberta Hon. Grant Mitchell is an Advisor to the firm bringing a broad range of public sector experience, including serving as Vice Chair, Senate Standing Committee on Energy, Environment, and Natural Resources. Kevin Overstrom is an Advisor to the firm with a long history in capital markets and the energy investment banking industry.
Jeff Brown is Director of Energy Economics at the University of Wyoming’s Enhanced Oil Recovery Institute and a former Fellow at the Steyer-Taylor Center for Energy Policy and Finance at Stanford University.
Stephen Comello is a Lecturer in Management and director of the Energy Business Innovations focus area at the Stanford Graduate School of Business and holds a PhD in Civil and Environmental Engineering from Stanford University.
Sean McCoy is an Assistant Professor in the Department of Chemical and Petroleum Engineering at the University of Calgary and holds a PhD in Engineering and Public Policy from Carnegie Mellon University.
