Elemental Altus Royalties Corp. Reports Record Revenue, Pays Down Debt in Q2 2025

Elemental Altus Royalties Corp. reported record revenue for Q1 and Q2, resulting in a strong cash position of approximately $80 million. The company paid down debt and received a $10 million payment related to the Mainstream royalty. A new investor, Tether Investments, also joined the register.

Altus Power Inc., a market-leading clean electrification company, has announced a strategic business combination with CBRE Acquisition Holdings, Inc. (CBAH). This transaction is set to generate gross proceeds of approximately $678 million, including a $275 million fully-committed common stock PIPE, anchored by CBRE Group, Inc. and existing investors [1].

The combined company, which will be listed on the New York Stock Exchange under the new ticker symbol "AMPS," will leverage CBRE's extensive reach and expertise in commercial real estate services. This strategic partnership aims to enhance Altus Power's ability to serve corporate and public clients with onsite clean energy generation and storage solutions [1].

Altus Power's leadership, including Co-Chief Executive Officers Lars Norell and Gregg Felton, will remain intact. The combined company's Board of Directors will include representatives from Altus Power, CBRE, Blackstone Credit, and ValueAct Capital, with a majority of highly qualified independent directors [1].

The transaction is expected to close in the fourth calendar quarter of 2021, subject to customary closing conditions, including the approval of CBAH's stockholders [1].

References:
[1] https://www.businesswire.com/news/home/20210713005393/en/Altus-Power-Inc.-a-Market-Leading-Clean-Electrification-Company-Announces-Business-Combination-with-CBRE-Acquisition-Holdings-Inc.-Combined-Company-Expected-to-Be-Listed-on-New-York-Stock-Exchange