A new company is focused on opportunities for upgrading ports infrastructure for offshore wind and other energy transition technologies and infrastructure.
Gateway Zero, founded by Joao Metelo (pictured), will bring “significant capital and expertise to the challenge of reimagining ports and infrastructure for the energy transition”.
The company’s mission is to unblock the path to net zero through the continued expansion of global offshore wind and harness new economic opportunities for ports and coastal infrastructure in decarbonisation, energy storage and green fuels.
It is projected offshore wind development alone will drive more than $15bn of investment in ports and vessels in Europe and the US by 2030 – with further tens of billions required to reach 2040 energy goals.
But limitations in existing port infrastructure are quickly becoming a bottleneck to deployment of both fixed and floating offshore wind projects.
Additionally, the wider decarbonisation effort will require large capital deployment into coastal infrastructure dedicated to energy transition propositions.
There is an urgent need to connect asset owners with the capital and expertise they need to build the next generation of energy ports infrastructure, stated Gateway Zero.
Metelo’s past roles include chief executive of Principle Power, chief financial officer of EDP Renewables North America, and more recently, as chief investment & financial officer of Skyborn Renewables.
Gateway Zero is “actively pursuing” opportunities to develop and invest in projects alongside ports, public authorities and other value chain partners, offering them a bridge to the clean energy sector and crowding in big capital as required.
The company is “engaged in conversations with multiple sources of capital” as it builds a diversified portfolio, spanning the EU, UK and US.
With the flexibility to participate as a developer, co-investor, or both, Gateway Zero will act as an enabler for existing asset owners seeking to harness the economic opportunity of the energy transition.
Metelo said: “Ports have a pivotal role to play in enabling the global energy transition, with the potential not only to act as critical supply chain hubs for offshore renewables, but also in the longer term to become centres for the decarbonisation of the maritime sector and deployment of co-located clean energy and green fuels infrastructure.
“We are an early mover and intend to become a global leader in our field. Our aim is to play a meaningful role in building out a new asset class with enormous long-term strategic value – becoming the partner of choice for asset owners and capital providers opening up the world’s energy gateways.”