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  1. Deals Analysis
May 6, 2021

Power industry cross border venture financing deals total $265.02m globally in Q1 2021

By Baghmar P

Total power industry cross border venture financing deals worth $265.02m were announced globally in Q1 2021, led by $50m venture financing of FreeWire Technologies, according to GlobalData’s deals database.

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The value marked an increase of 67.3% over the previous quarter and a rise of 46.6% when compared with the last four-quarter average, which stood at $180.75m.

Comparing cross border deals value in different regions of the globe, North America held the top position, with total announced deals worth $128.87m in the period. At the country level, the US topped the list in terms of deal value at $80m.

In terms of volumes, Europe emerged as the top region for power industry cross border venture financing deals globally, followed by North America and then Middle East and Africa.

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The top country in terms of cross border venture financing deals activity in Q1 2021 was the US with five deals, followed by Canada with three and Germany with two.

In 2021, at the end of , cross border venture financing deals worth $265.02m were announced globally in power industry, marking an increase of 164.9% year on year.

Cross Border venture financing deals in power industry in Q1 2021: Top deals

The top five cross border venture financing deals in power industry accounted for 69.8% of the overall value during Q1 2021.

The combined value of the top five cross border venture financing deals stood at $184.97m, against the overall value of $265.02m recorded for the quarter.

The top five power industry cross border venture financing deals of Q1 2021 tracked by GlobalData were:

1) Alumni Ventures Group, BP Ventures, Energy Innovation Capital, Riverstone Holdings and TRIREC Pte.’s $50m venture financing of FreeWire Technologies

2) The $48m venture financing of Lightyear by Zero Point Holding

3) BDC Capital, Chevron Technology Ventures, Eversource Energy, Temasek Holdings (Private) and Vickers Venture Partners’ $40m venture financing of Eavor Technologies

4) The $25m venture financing of Baseload Capital by Breakthrough Energy Ventures, Chevron Technology Ventures and Gullspang Invest

5) Breakthrough Energy Ventures, Horizons Ventures and Ignitis Innovation Fund’ venture financing of H2Pro for $21.97m.

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