Ontario Teachers’ partners with Alphabet, Sidewalk Labs to launch infrastructure holding company
The Ontario Teachers’ Pension Plan is partnering with Google parent company Alphabet Inc. and affiliate Sidewalk Labs to launch a new company that invests in North American infrastructure.
The spin-out of Sidewalk Labs called Sidewalk Infrastructure Partners, plans to hold, operate and invest in advanced infrastructure for the digital age.
“We will bring our infrastructure and investment expertise to the table, while leveraging our partners’ world-leading capabilities in technology, to enable sustainable, intelligent and efficient physical infrastructure,” said Olivia Steedman, senior managing director of the Teachers’ Innovation Platform, in a statement.
Read: Ontario Teachers’ launches venture capital investment platform
The new company will focus on five areas including advanced mobility, energy, water and waste, digital infrastructure and social infrastructure. The infrastructure could include technology-enabled systems for stormwater management, neighbourhood-scale heating and cooling, advanced traffic controls and other initiatives like the ones that Sidewalk Labs hopes to deploy at the Quayside on Toronto’s waterfront.
“Sidewalk Infrastructure will give cities an opportunity to deploy next-generation infrastructure,” said Dan Doctoroff, chief executive officer of Sidewalk Labs, in a statement.
Read: Global investors turn to infrastructure, real estate as interest rates normalize: report