Columbia Threadneedle Investments’ open-ended European Sustainable Infrastructure Fund (ESIF) has partnered with Smart Metering Systems (SMS) to develop and acquire a pipeline of carbon reduction assets.

The manager said the partnership allows SMS to identify ”suitable carbon reduction assets and develop its energy-efficient projects pipeline, and ESIF to deploy capital and acquire sustainable infrastructure assets on behalf of its investors”.

Heiko Schupp, global head of infrastructure investments at Columbia Threadneedle Investments, said: “ESIF takes a systematic approach to assessing and integrating sustainability across all stages of the infrastructure investment process.

“The partnership with SMS presents an exciting investment opportunity for the fund, allowing our investors to develop and own carbon reduction solutions such as electric vehicle charging units and efficient energy systems.”

As an end-to-end utility company dedicated to delivering the future of smart energy, SMS brings a strong track record, industry expertise and intellectual property to the table, Schupp said.

“In turn, ESIF’s open-ended, long-term structure allows for flexible deployment of capital over time, making it an ideal partner for SMS and its pipeline of carbon reduction assets.”

Alan Foy, CEO at Smart Metering Systems, said: “Sustainability is at the heart of our operations. The deployment of smart meters and carbon reduction assets are an integral part of a flexible, decentralised and decarbonised energy system, and key to reducing carbon emissions.

“Substantial investment is required to achieve UK’s net-zero ambitions. Our partnership with ESIF significantly enhances our ability to rapidly originate the carbon reduction assets in a value accretive way.”