Dow Receives Additional $540M After Macquarie Increases Stake in Diamond

Dow has announced it has received an additional $540 million in proceeds following Macquarie Asset Management's increased investment in Diamond Infrastructure Solutions (“Diamond”), raising its minority equity stake from 40% to 49%. This brings Dow's total proceeds from the transaction to approximately $3 billion.

"This expanded partnership with Macquarie Asset Management further signals a strong trust and alignment between Dow and Macquarie that will result in a long-term, value-driven partnership," said Jim Fitterling, chair and chief executive officer of Dow.

Dow and Macquarie Asset Management will drive the growth of Diamond Infrastructure Solutions through a wide range of services across sectors - including energy, environment, infrastructure and pipelines - to more than 70 existing and new customers, while Dow continues to maintain operational control as the majority owner of Diamond.

In May 2025, Diamond announced a new tab a partnership with a Danish climate tech startup company, Again, to host the first U.S.-based CO2 transformation facility at its Texas City site. Most recently, Third Pillar Solar and Diamond jointly announced an agreement for exclusive access to Diamond's Texas reservoir system to explore potential deployment of up to 500MW of floating solar.