Factor, a project and methodology developer, and 3C, which has expertise in carbon asset management and climate neutral services, first announced plans to join forces in October (see 3C merges with Factor).

First Climate said it will build on its founders' reputations and “intends to become the first name in project financing”. It noted that its carbon investment advisory team is expected to announce a major deal within the next few weeks.

3C co-founder Markus Hüwener takes the role of chief executive at the new company. Urs Brodmann and Thomas Stettner, co-founders of Factor, become chief risk officer and chief operating officer, respectively.

The business has 80 employees, most of which will be based at Bad Vilbel near Frankfurt, Germany, and in Zurich, Switzerland, with other offices in China, Chile and the US.

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