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  1. Deals Analysis
June 28, 2021

Power industry venture financing deals total $286.3m globally in May 2021

By Baghmar P

The $95m venture financing of Mainspring Energy was the power industry’s top venture financing deal as total deals worth $286.3m were announced globally in May 2021, according to GlobalData’s deals database.

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The value marked a decrease of 75.7% over the previous month of $1.18bn and a drop of 44.3% when compared with the last 12-month average, which stood at $513.96m.

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 $241.22m. At the country level, the US topped the list in terms of deal value at $241.22m.

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 May 2021 was the US with 12 deals, followed by the Australia with one and Canada with one.

In 2021, as of May, power venture financing deals worth $4.4bn were announced globally, marking a decrease of 453.1% year on year.

power industry venture financing deals in May 2021: Top deals

The top five power industry venture financing deals accounted for 78.2% of the overall value during May 2021.

The combined value of the top five power venture financing deals stood at $223.8m, against the overall value of $286.3m recorded for the month.

The top five power industry venture financing deals of May 2021 tracked by GlobalData were:

1) 40 North Ventures, American Electric Power, Bill Gates, Chevron Technology Ventures, ClearSky Ventures, Devonshire Investors, Equinor Venture, KCK Group, Khosla Ventures and Princeville Capital’s $95m venture financing of Mainspring Energy

2) The $56.8m venture financing of 24M Technologies by Fujifilm, Global Power Synergy Public, Itochu, Kyocera, Mirai Creation Fund II and North Bridge Venture Partners

3) Activate Capital, Ajax Strategies, NGP Energy Technology Partners and Prelude Ventures’ $31m venture financing of Voltus

4) The $26m venture financing of TWAICE Technologies by Energize Ventures

5) Breakthrough Energy Ventures, Coatue Management, Grok Ventures, Josh Felser and The Westly Group’s venture financing of Weave Grid for $15m.

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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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