Tom Steyer's Galvanize launches new strategy with $1.3B in tow

The big picture: The business will provide "structured non-bank and special situations credit," as well as preferred equity, and "opportunistic capital" to companies and projects, the announcement states.

• Target regions for the effort — led by Galvanize execs including former congressman John Delaney and DOE loan office vet Chris Creed — include the U.S., Canada, and Europe.
• It's focused on the "full energy transition value chain" — renewables, storage, fleet electrification, efficiency, advanced materials manufacturing, and more.

The bottom line: "[W]e're positioned to finance complex and underserved segments of the energy ecosystem, from mid-market developers and operators to large-scale infrastructure rebuilds, at compelling risk adjusted returns," Creed said in a statement.