The Carnrite Group (‘Carnrite’), a management consultancy with offices in Houston, London, and Abu Dhabi, has agreed to acquire Dubai-based NETZERO Middle East (‘NETZERO’).
The acquisition will expand Carnrite’s ability to help clients form and operationalize energy transition strategies. The transaction is expected to close by year-end 2021. Ashley Taylor, Managing Director of NETZERO, will join Carnrite as General Manager, Middle East & North Africa.
NETZERO specializes in carbon credits and offsets in voluntary carbon markets. Its clients include project developers, energy and industrial companies, and governments. NETZERO works with nature-based and engineered project developers to monetize carbon credits, while assisting companies in ‘hard-to-abate’ sectors with sourcing high-quality offsets. Together with NETZERO, Carnrite’s Energy Transition practice will be positioned to help clients measure, monitor, reduce, and offset emissions.
“We have built an ecosystem of partnerships with leading companies such as Persefoni and Data Gumbo. These relationships allow us to help clients efficiently measure and monitor their emissions. Beyond measurement, we’ve been working with clients in North America, Europe, and the Middle East to form energy transition strategies, decarbonize operations, and invest in low carbon and new energy projects like carbon capture and storage,” said Nicholas Carnrite, Partner & Managing Director. “Our acquisition of NETZERO expands our suite of energy transition offerings and positions us to help clients offset remaining emissions.”
Ashley Taylor added, “joining Carnrite gives NETZERO the global reach and resources needed to fully implement our business model and expand our offerings across the Gulf Cooperation Council countries and beyond. Together, we will serve as advisors in the voluntary carbon markets, while exploring whether there is an opportunity to identify, screen, aggregate, and secure funding for smaller-scale nature-based and engineered projects.”
The NETZERO acquisition is the latest is a series of expansion moves by Carnrite. In 2020, Carnrite opened its first international office in London, United Kingdom and scaled new service offerings focused on Energy Transition and Digital Transformation. Earlier this year, Carnrite opened its office in Abu Dhabi, UAE. NETZERO will become a subsidiary of Carnrite’s UAE holding company incorporated in Abu Dhabi Global Markets, which also has a subsidiary onshore Abu Dhabi.
About The Carnrite Group
The Carnrite Group is a management consultancy focused in the energy, industrial, and private equity sectors. From offices in Houston, Texas, London, United Kingdom, and the UAE, Carnrite deploys its unique combination of consulting and industry expertise to projects globally. Areas of expertise include strategy and transaction support, performance improvement, human capital, digital transformation, and the Energy Transition. To further augment its offerings Carnrite has assembled an innovative ecosystem of strategic partners that spans leading technologies and adjacent consulting services. Carnrite recognizes that its clients face difficult business decisions – its mission is to make it easier for them.
Press Release: Dubai, United Arab Emirates – 2nd December 2021