The $450m venture financing of Form Energy was the power industry’s top venture financing deal as total deals worth $1.3bn were announced globally in October 2022, according to GlobalData’s deals database.
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The value marked a decrease of 0.8% over the previous month of $1.34bn and a drop of 27.7% when compared with the last 12-month average, which stood at $1.84bn.
Comparing venture financing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $753.21m. At the country level, the US topped the list in terms of deal value at $753.21m.
In terms of volumes, Europe emerged as the top region for power industry venture financing deals globally, followed by Asia-Pacific and then North America.
The top country in terms of venture financing deals activity in October 2022 was the US with 15 deals, followed by the China with 12 and Germany with six.
In 2022, as of October, power venture financing deals worth $16.22bn were announced globally, marking an increase of 35.6% year on year.
power industry venture financing deals in October 2022: Top deals
The top five power industry venture financing deals accounted for 82.7% of the overall value during October 2022.
The combined value of the top five power venture financing deals stood at $1.1bn, against the overall value of $1.3bn recorded for the month.
The top five power industry venture financing deals of October 2022 tracked by GlobalData were:
1) ArcelorMittal, Breakthrough Energy Ventures, Canada Pension Plan Investment Board, Capricorn Investment Group, Coatue, Energy Impact Partners, GIC, NGP ETP, Prelude Ventures, Temasek Holdings (Private), The Engine Group, TPG Rise Climate and Vamos Ventures’s $450m venture financing deal with Form Energy
2) The $277.84m venture financing of Xiamen Haichen Energy Storage Technology by Inc., ABC International, China Construction Bank, Fenghe Capital, Gold Ventures, Matrix Partners, Richu Capital, Shengtun Group, Torch Capital and Xiamen Venture Capital
3) At One Ventures, Doral Energy-Tech Ventures, Fifth Wall Ventures Management, GLy Capital Management, Hitachi Ventures, InMotion Ventures, Lithium Americas, Mirae Asset Capital, Oman Investment Authority, Orbia Ventures, Shinhan GIB, SK Ecoplant, TDK Ventures and TRUMPF Venture’s $200m venture financing deal with Ascend Elements
4) The $137.78m venture financing of Hebei Kuntian New Energy by China International Capital, GF Qianhe Investment, Sany Group, Shanghai Fosun Chuangfu Equity Investment Management, Sinopec Capital and SK China
5) Clean Energy Ventures, Climate Innovation Capital, Marubeni, Microsoft Climate Innovation Fund, National Grid Partners, S2G Ventures, UP.Partners and Zoma Capital’s $33m venture financing deal with LineVision