Wood Mackenzie, an oil, gas and renewables research firm, is closing down the Greentech Media renewable news portion of its business in mid-March, according to former employees familiar with the matter.
Venture-funded Greentech Media, a cleantech news, analysis and events business, was acquired by Wood Mackenzie for approximately $40 million in 2016.
Media in flux
Why is Wood Mackenzie shuttering a renewable energy news business when the world is in the midst of a high-growth energy transition? GTM’s coverage areas of wind, solar, storage and grid are critical in confronting climate change and decarbonizing energy usage.
In the media world, Politico acquired energy trade publication E&E News late last year and venture firms like a16z and Breakthrough Energy Ventures are launching or doubling down on their own media properties. Every writer you know is on Substack. Media is in flux, as always — but this doesn’t explain why Wood Mac is abdicating a premier media property in a set of hyper-growth markets.
A Wood Mackenzie spokesperson commented: “As part of the final integration of GTM within Wood Mackenzie, we have taken the decision to retire the GTM and GTM2 news sites. We will cease publishing new editorial and news content on the sites from March and all impacted subscribers will be contacted. We know this will be disappointing news for many loyal GTM subscribers and we thank them for their readership over the last decade,” adding, “We will continue to expand and grow the popular Energy Gang and GTM podcasts and Greentech events, as part of Wood Mackenzie.”