Led by $78m venture financing of Tesseract Energy, total power industry cross border venture financing deals worth $345.5m were announced in Europe in Q3 2022, according to GlobalData’s deals database.
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The value marked a decrease of 77.1% over the previous quarter and a drop of 55.7% when compared with the last four-quarter average of $780.64m.
Europe held a 26.78% share of the global power industry cross border venture financing deal value that totalled $1.29bn in Q3 2022. With an 8.12% share and deals worth $104.69m, Germany was the top country in Europe’s cross border venture financing deal value across power industry.
In terms of deal activity, Europe recorded 22 cross border deals during Q3 2022, marking a decrease of 21.43% over the previous quarter and a rise of 7.32% over the last four-quarter average. Germany recorded five deals during the month.
Europe power industry cross border venture financing deals in Q3 2022: Top deals
The top five cross border venture financing deals accounted for 64.4% of the overall value during Q3 2022.
The combined value of the top five power cross border venture financing deals stood at $222.63m, against the overall value of $345.5m recorded for the quarter.
The top five power cross border deals of Q3 2022 tracked by GlobalData were:
1) Accel, Balderton Capital (UK), BoxGroup, Chris Sacca, Creandum, John Doran, Lakestar Advisors, Lowercarbon Capital, Martin Mignot, Nico Rosberg, Ribbit and Tom Stafford’s $78m venture financing deal with Tesseract Energy
2) The $50.36m venture financing of Quantron by Ballard Power Systems and Neuman & Esser GmbHKG
3) Breakthrough Energy Ventures, Deutz and Vaekstfonden’s $36.89m venture financing deal with Blue World Technologies
4) The $29.91m venture financing of Elestor by EIT InnoEnergy, Enfuro Ventures, Equinor Energy Ventures, Invest-NL, Koninklijke Vopak and Somerset Capital Partners
5) Air Liquide Venture Capital, Siparex Group and TiLT Capital Partners’s $27.47m venture financing deal with Orcan Energy