England & Company’s Post

EQT Infrastructure VI (EQT Group) has launched a public offer to acquire all the shares of Swedish renewables company OX2 at a price of SEK 60 in cash per share. The independent bid committee of the board of directors of OX2 AB has unanimously recommended shareholders to accept the public offer from EQT Infrastructure VI, via Otello BidCo AB. The offer values all shares in OX2 at SEK 16.531 billion ($1.522 billion). The offer of SEK 60 in cash per share represents a 43.4% premium to the closing price of SEK 41.8 of OX2’s shares on Nasdaq Stockholm on 10 May 2024. Peas Industries, OX2’s largest shareholder with a 45.6% stake in the company, is set to accept the offer, irrespective of whether a higher competing offer is made. Otello BidCo will have to acquire more than a 50% stake in OX2 for the offer to complete, as well as secure the necessary regulatory approvals. “To unlock OX2’s full potential, we believe it would benefit from a transition to a more long-term, sustainable business model and becoming an integrated renewables developer and asset owner,” Otello BidCo said in a statement. EY has been engaged to provide a fairness opinion on the offer, while Goldman Sachs Bank Europe SE, Sweden Bankfilial are also acting as financial advisers and Gernandt & Danielsson Advokatbyrå as legal adviser. “EQT plans to provide additional investment in OX2’s pipeline while using its industry expertise to support its transformation,” noted Otello BidCo. “Otello BidCo is fully supportive of the current management team and safeguards employee positions,” added Otello BidCo. “There are currently no decisions on any material changes that may impact OX2’s employees and management or the existing organisation and operations, including the terms of employment and locations of the business.” #cleanenergy

Corporate funding for energy storage saw a remarkable 117% year-on-year increase in the first half of 2024, totaling $15.4 billion across 64 deals. This surge highlights growing investor confidence in the sector, driven by advancements in battery technology and increased demand for sustainable energy solutions. Notable investments include significant contributions to lithium-ion and alternative battery technologies. This growth in funding underscores the critical role of energy storage in the global energy transition. #EnergyStorage #SustainableEnergy #CleanEnergy #RenewableEnergy #BatteryTechnology #Investment #EnergyTransition #ClimateAction #GreenEnergy #Innovation #EnergyEfficiency #CorporateFunding #FutureOfEnergy #Sustainability #EnergyMarket 4ohttps://lnkd.in/eVQgMuBE

Via Utility Dive: " rPlus Energies secures $1B for 800-MW solar-plus-storage ‘peaker plant’: In addition to the recent $1 billion Green River Energy Center deal, recent private equity investments will allow rPlus Energies to transition to an owner-operator model. " #Energy #Utility #Utilities

🌟 A few weeks ago, our very own Jono Evetts had the opportunity to discuss our mission with InstallerSHOW. We delved into how we're making renewables more accessible through finance. Watch the webinar recording here: https://bit.ly/462k22E 💼🌞 #RenewableFinance #PhoenixFinancial

Elcogen AS, a portfolio company of London-listed HydrogenOne Capital Growth, has secured new strategic investment from Baker Hughes. “This investment marks another important milestone for HydrogenOne’s second largest portfolio investment,” said Dr JJ Traynor, Managing Partner of HydrogenOne Capital LLP, HydrogenOne Capital Growth’s investment adviser. “Baker Hughes is a leading energy technology company, and is a further important strategic investor in Elcogen, alongside HD Hyundai. This is another powerful endorsement of Elcogen’s technology and capabilities in solid oxide supply chains.” The new funding will be used to help scale up Elcogen’s leading solid oxide cell technology (SOEC) for green hydrogen from its new factory in Tallinn, Estonia, with a manufacturing capacity of up to 360 MW. “There is a huge amount of pressure for heavy industries to decarbonise and meet net-zero targets, explained Enn Õunpuu, CEO of Elcogen. “We are very pleased that Baker Hughes has invested in Elcogen, recognising the role our proprietary Solid Oxide technology has in supporting the energy transition.” HydrogenOne anchored the equity round in 2022 with an investment of €24 million, followed by HD Hyundai Heavy Industries’ investment of €45 million in 2023, while the new investment announced today from Baker Hughes and MIRAE brings the total equity raised to c.€100 million. Furthermore, Elcogen has secured project grants from the European Commission, including an IPCEI grant exceeding €24 million, along with a proposed debt issue of €15 million. With these resources combined, Elcogen has amassed over €140 million since 2022. Alessandro Bresciani, Senior Vice President Climate Technology Solutions, Baker Hughes, added: “This investment further demonstrates our commitment to support the energy transition and the development of the hydrogen economy, which we believe will be an essential part of the energy mix of the future. “Today’s announcement underscores our strategy in collaborating to build out solutions that can enable the decarbonisation of the energy ecosystem and marks another significant milestone in our journey to continue to expand our portfolio across the hydrogen value chain.” #cleanenergy

European smart energy company GridBeyond has raised €52 million in a Series C funding round that was led by Klima, Alantra’s Energy Transition Fund. Founded in 2010, GridBeyond said the new funding will be used to boost its international expansion plans, grow its existing US presence, and for R&D investments. In addition to Klima, the Series C round also featured new investors Energy Impact Partners, Mirova, ABB, Constellation, and Yokogawa Electric Corporation as well as investment from existing investor, Act Venture Capital. “We are delighted to complete this transaction,” remarked Michael Phelan, CEO and co-Founder of GridBeyond. “This funding, together with the support of our new partners, will enable us to expand our product offering and strengthen our leadership position in this space. “The newly completed financing round sets GridBeyond on the path to increase the reach of our intelligent energy platform and deliver world leading AI and powerful automation capabilities to smart grid and energy markets across the world." Since its foundation in 2010, GridBeyond has been developing its AI platform to help businesses unlock the full potential of energy assets, ensuring the sustainability, resilience, and affordability of energy as the world moves towards a zero-carbon future. GridBeyond’s AI platform is aimed at optimising energy assets, including utility-scale renewables generation, battery storage, and energy demand load, helping to bridge the gap between distributed energy resources and the requirements of the power grid. Bastien Gambini, Managing Partner of Klima, added: “GridBeyond has established itself as a VPP leader across different countries, enabling stakeholders throughout the value chain to optimise energy. “We are thrilled to support the company’s expansion and its additional services aimed at guiding customers on their path to achieving net zero-carbon.” Marathon Capital, LLC served as financial advisor to GridBeyond with ByrneWallace LLP as the company’s legal counsel and Mason Hayes & Curran LLP as the lead investor’s legal advisor. #cleanenergy

Kudos to TS Conductor on their recent close of $60M for next-generation power lines. Here's who invested and why their tech is so important to the energy transition... 👇 The investment was led by Wellington Management and joined by Breakthrough Energy Ventures, National Grid Partners, Quanta Services, Inc., and a subsidiary of NextEra Energy Resources. From the press release: "TS Conductor's high-performance conductors are suitable for both new build and reconductoring projects. Compared to traditional power conductors, which were invented more than a century ago, the TS conductor can triple capacity during peak electricity generation and demand, allowing for more renewable energy projects to be integrated and for grid operators to expand capacity quickly and affordably simply by reconductoring. Its technology can also provide up to a 50% decrease in line losses during normal operation. Its highly durable conductors can be installed with the same tools and techniques line crews have used for decades with ACSR conductors, with no additional training required. Thanks to the conductor's low-sag properties, CapEx costs can be dramatically reduced for new build projects, which can be designed with fewer and shorter towers." Kudos to Jason Huang, Founder/CEO, on this huge milestone. All your fellow climate CEOs and investors in the EFI (Entrepreneurs for Impact) peer group are rooting for your success!

bp Energy Outlook: Energy demand set for major changes by 2050 🌐 Visit: https://lnkd.in/etJGmpAS Learn more about our project financing. Powering Progress, Investing in Energy. 🔗 Join our Community: lngcommunity.com #energy #markets #projectfinancing

MN8 Energy's $325mn Infusion Sparks Path for Future Expansion and Green Innovation 💡🌿 MN8 Energy has successfully secured $325 million through a convertible preferred private placement, with Mercuria Energy Group and Ridgewood Infrastructure as the primary investors. 🌞 Diverse operations: MN8’s portfolio primarily comprises solar projects, totaling 3.2 GW of capacity across 28 US states. Meanwhile, the company is also involved in battery storage development and EV charging stations. 🎯 Targeted Off-takers: The projects are primarily contracted under PPAs for a duration of 11-20 years. The company targets a wide range of investment-grade off-takers, including utilities like PacifiCorp and South California Edison, as well as corporations like Coca-Cola and Toyota. 💰 Funding Strategy: The raised proceeds will support MN8's operations and growth without relying on the expensive debt market. In addition, the financing brings in two veterans from the renewable space to MN8’s investor base, helping the company accelerate its growth. 📈 Market Moves: Recently, Avantus has raised $1bn through equity investment from KKR & Co. to fund their renewable growth in the US. Meanwhile, rPlus Energies and Apex Clean Energy have also tapped the equity market to expand their pipeline in the country. #RenewableEnergy #GreenInvestment #SolarPower #BatteryStorage #Sustainability #CleanEnergy #EnergyTransition #Innovation #EnvironmentalSustainability #ClimateAction

Battery-buffered, ultra-fast #EV charging technology firm ADS-TEC Energy has announced the signing of a definitive agreement for a private investment by Svelland Capital, a distinguished and highly-ranked investment company in the #energy sector. Thomas Speidel Read more @ https://lnkd.in/g6myebf7 #evcharging #energystorage #batteryenergystorage #germany #europe #cleanenergy #energytransition #emobility #energymanagement #energystoragesystem