Tysons-based LMI Ventures is partnering with The Climate Service (TCS) to help its clients assess climate risks and create risk mitigation strategies.
@TheClimateSvc is precisely the right partner to furnish software solutions that enrich our clients’ understanding of #climate risks," said @ianfolau. Learn more about the latest LMI Ventures partnership. https://t.co/KlUmlyxkA7 #climateresilience #climaterisk
— LMI (@LMI_org) October 25, 2019
LMI Ventures was launched in February by LMI, the provider of management and tech consulting services to federal government clients, to support startup innovation in the federal government sector. This is only the venture capital fund’s second partnership following its deal with Immuta, whose data governance platform is now a part of LMI’s Maintenance and Availability Data Warehouse solution.
The two-year-old TCS is a North Carolina-based provider of climate risk analytics to measure and manage financial climate risks possibilities.
(Climate risk is “risk resulting from climate change and affecting natural and human systems and regions.”)
With this new partnership, LMI will offer TCS’ analytics software called Climanomics to its federal clients. This analytics platform can analyze an organization’s data to model the climate risks and costs associated with shifting to more environmentally friendly initiatives, like carbon-neutral policies and tech, according to a press release. LMI consultants will help clients come up with personalized risk mitigation strategies.
“The Climate Service is a pioneer in climate analytics with success across numerous industry sectors,” said Audra Upchurch, director of LMI’s infrastructure, energy, and environment practice, in a statement. “Federal agencies are increasingly concerned with understanding and anticipating the effect of climate change on their operations. LMI is now positioned to supply clients with the very best analysis and solutions development.”
This partnership came with an equity investment from LMI Ventures to TCS to scale its climate analytics software, but the financial terms of the deal were not disclosed. LMI will kick off this partnership by helping the Office of the Secretary of Defense assess climate risks to the operational readiness of the F-35 Joint Strike Fighter, a combat aircraft.
“We’re seeing a huge demand for robust, reliable, and transparent information about the effects of climate change. Both the public and private sectors will be affected significantly — though differently — by climate change. We are delighted to serve the federal need for actionable insights with our partner, LMI,” The Climate Service CEO James McMahon said.-30-