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  1. Deals Analysis
March 22, 2022

Power industry venture financing deals total $1.2bn in North America in February 2022

By Nikitha Ladda

Total power industry venture financing deals worth $1.2bn were announced in North America in February 2022, led by $375m venture financing of Palmetto Solar , according to GlobalData’s deals database.

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The value marked an increase of 110.05% over the previous month of $566.54m and a rise of 84.5% when compared with the last 12-month average of $645.01m.

North America held a 52.65% share of the global power industry venture financing deal value that totalled $2.26bn in February 2022. With a 52.21% share and deals worth $1.18bn, the US was the top country in North America’s venture financing deal value across power industry.

In terms of venture financing deal activity, North America recorded 32 deals during February 2022, marking an increase of 23.08% over the previous month and a rise of 33.33% over the 12-month average. The US recorded 30 deals during the month.

North America power industry venture financing deals in February 2022: Top deals

The top five power industry venture financing deals accounted for 72.9% of the overall value during February 2022.

The combined value of the top five power venture financing deals stood at $865m, against the overall value of $1.2bn recorded for the month.

The top five power industry venture financing deals of February 2022 tracked by GlobalData were:

1) Bennett &Inc.,ArcTern Ventures ,Gaingels,Lerer Hippeau Ventures,MacKinnon and Social Capital $375m venture financing deal with Palmetto Solar

2) The $200m venture financing of Epirus by Bedrock Capital Partners,Broom Ventures,Eight Partners,EPIQ Capital Group,Gaingels,General Dynamics Land Systems,I Squared Capital,Moore Strategic Ventures,Parkwood,Piedmont Capital Partners,Red Cell Partners,StepStone Group and T Rowe Price Associates

3) Coatue Management,Emerson Collective,Energize Ventures,Fifth Wall Ventures II,ICONIQ Capital and Lux Capital $200m venture financing deal with Aurora Solar

4) The $50m venture financing of Antora Energy by BHP Ventures,Breakthrough Energy Ventures,Fifty Years Fund,Grok Ventures,Impact Science Ventures,Lowercarbon Capital,Overture VC,Shell Ventures and Trust Ventures

5) Collaborative Fund,Fine Structure Venture,Nabors Energy Transition,Prelude Ventures,Safar Partners and The Engine $40m venture financing deal with Quaise Energy

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Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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