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  1. Deals Analysis
March 31, 2022

Power industry venture financing deals total $2.3bn globally in February 2022

By Nikitha Ladda

The $375m venture financing of Palmetto Solar was the power industry’s top venture financing deal as total deals worth $2.3bn were announced globally in February 2022, according to GlobalData’s deals database.

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The value marked an increase of 115.2% over the previous month of $1.05bn and a rise of 53.7% when compared with the last 12-month average, which stood at $1.47bn.

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 $1.19bn. At the country level, the US topped the list in terms of deal value at $1.18bn.

In terms of volumes, North America emerged as the top region for power industry venture financing deals globally, followed by Europe and then Asia-Pacific.

The top country in terms of venture financing deals activity in February 2022 was the US with 30 deals, followed by the UK with nine and Germany with seven.

In 2022, as of February, power venture financing deals worth $3.3bn were announced globally, marking an increase of 69.6% year on year.

power industry venture financing deals in February 2022: Top deals

The top five power industry venture financing deals accounted for 44.7% of the overall value during February 2022.

The combined value of the top five power venture financing deals stood at $1.01bn, against the overall value of $2.3bn 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 $153.92m venture financing of Tianqi Lithium Industry (Shehong) by Suzhou Tianhua Chaojing Technology

5) CICC Capital ManagementLimited,Fang Zhenge Fund 2,GSR United Capital and Sino Pacific Capital $78.54m venture financing deal with NaaS

Related Companies

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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