Total power industry venture financing deals worth $1.2bn were announced in the US 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 150.2% over the previous month of $471.63m and a rise of 96.2% when compared with the last 12-month average of $601.47m.
The US held a 52.21% share of the global power industry venture financing deal value that totalled $2.26bn in February 2022.
In terms of venture financing deal activity, the US recorded 30 deals during February 2022, marking an increase of 30.43% over the previous month and a rise of 42.86% over the 12-month average.
US power industry venture financing deals in February 2022: Top deals
The top five power industry venture financing deals accounted for 73.3% 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