Aspiration Acquires Carbon Insights to Expand its Sustainability Services for Consumers and Enterprises
Aspiration Will Add Industry-Leading Carbon Accounting Technology and APIs to Enhance its ESG and Tracking Capabilities
Aspiration, the global leader in "Sustainability as a Service" solutions, today announced that it has acquired Carbon Insights, a leader in climate tech whose proprietary algorithm translates spending behavior and transactions into carbon footprints. Aspiration will be integrating the Carbon Insights technology into its existing offerings that build climate change-fighting action into what people and businesses do every day.
Carbon Insights was founded in March 2020 as a Public Benefit Corporation dedicated to turning spending behavior into carbon measurement and action to meet the Paris Climate agreement's 1.5-degree goal. The deal solidifies Aspiration as the leading carbon scoring technology solution on the market with a competitive set of ESG and carbon transactional tracking capabilities.
"Aspiration scoured the landscape of new carbon footprinting tools before deciding to make the acquisition of Carbon Insights," said Andrei Cherny, Aspiration CEO and co-founder. "Understanding your carbon footprint is the first step in being able to do something about reducing or eliminating it entirely, so we are excited to welcome them onboard to work toward delivering an unparalleled solution for individuals and enterprises to take control of their carbon footprints."
"Carbon Insights was built with the notion that our actions today will impact the earth and those that inhabit it for years to come," said Carbon Insights co-founder Chad Hunter. "In Aspiration, we saw a synergy in our missions-- to give people and companies the tools to make a difference -- and a complimentary opportunity to integrate our environmental impact calculator technology with AIM to deliver world-leading carbon footprinting insights."
As part of the acquisition, Carbon Insights co-founders Chad Hunter and Ally Kadel have joined Aspiration and will play a primary role in the integration of Carbon Insights' environmental impact calculator with AIM and scaling the offering for all levels of Aspiration customers.
Aspiration recently entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE:IPVF), a publicly traded special purpose acquisition company, which, upon closing, will result in Aspiration becoming a listed company as a Public Benefit Corporation, building on Aspiration's existing commitments to generate social and public good and operate in a responsible and sustainable manner.
About Aspiration Partners, Inc.
Aspiration is a leading platform to help people and businesses put automated sustainable impact into their hands and integrate it into their daily lives. Aspiration has earned the trust of its more than 5 million members by helping them spend, save, shop, and invest to both "Do Well" and "Do Good." Aspiration Partners, Inc. is a certified B Corp. For more information, visit Aspiration.com or Aspiration.com/business.
About InterPrivate III Financial Partners Inc.
InterPrivate III Financial Partners Inc., led by Chairman & CEO Ahmed Fattouh, President Nicholaos Krenteras, and Vice Chairman Sunil Kappagoda, is a blank check company whose business purpose is to affect a business combination with one or more businesses in the financial services or fintech sectors. InterPrivate III's Board of Directors includes globally recognized financial services leaders including: former BankOneChairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman; and fintech investor Gordy Holterman.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220112005366/en/