The British Columbia Investment Management Corp. is acquiring a battery storage provider.

The investment organization will acquire Eku Energy from Macquarie Asset Management. The company designs electrical storage systems and operates a portfolio of these in projects in Australia, Europe and Japan.

In the release, Lincoln Webb, executive vice-president and global head of infrastructure and renewable resources at the BCI, said the battery storage company was positioned to benefit from efforts to integrate clean energy into structural trends related to the energy sector. “As countries worldwide facilitate the integration of clean energy to meet energy transition objectives, large-scale battery storage platforms like Eku are poised for strong growth, resulting in attractive investment opportunities.”

Read: CPPIB investing in energy service provider, BCI backing aerospace acquisition

In other news, the real estate arm of the Caisse de dépôt et placement du Québec and a Dutch asset management firm are acquiring a last-mile logistics facility in Germany.

Ivanhoé Cambridge and URBZ Capital will jointly control a 12,570 square metre facility located in Karlsfeld, a Munich suburb. The facility operates on a 23,800 square metre industrial site close to a major highway network. Following the takeover, the facility will be renovated, with electric vehicle charging points, natural lighting and a 4,500 square metre extension to its main building.

The acquisition is part of Ivanhoé Cambridge’s last-mile logistics strategy. The plan, which was launched at the end of 2021 in partnership with URBZ Capital, involves developing a large portfolio of last-mile logistics facilities throughout Northern Europe.

In a press release, Christian Daumann, vice-president and head of investments in Germany at Ivanhoé Cambridge, said the strategy would allow the investment organization to benefit from the growth of the e-commerce sector. “Our last-mile strategy aims to anticipate structural market trends and to support new tenants’ needs linked to the rapid e-commerce growth: developing modern and low-carbon facilities located close to cities to deliver urban customers faster.”

Read: Ivanhoé Cambridge extending News Corp. lease, BCI-backed insurer securing major investor