Total power industry venture financing deals worth $604.4m were announced in the US in May 2022, led by $200m venture financing of Arcadia Power, according to GlobalData’s deals database.

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The value marked an increase of 10.7% over the previous month of $545.91m and a drop of 13.1% when compared with the last 12-month average of $695.78m.

The US held a 49.54% share of the global power industry venture financing deal value that totalled $1.22bn in May 2022.

In terms of venture financing deal activity, the US recorded 26 deals during May 2022, marking a decrease of 7.14% over the previous month and a rise of 8.33% over the 12-month average.

US power industry venture financing deals in May 2022: Top deals

The top five power industry venture financing deals accounted for 69.6% of the overall value during May 2022.

The combined value of the top five power venture financing deals stood at $420.5m, against the overall value of $604.4m recorded for the month.

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

1) Broadscale Group,Camber Creek,Drawdown Fund,J.P. Morgan Asset Management,Keyframe Capital Partners,MCJ Collective,Salesforce Ventures,Tiger Global Management,Triangle Peak Partners and Wellington ManagementLLP $200m venture financing deal with Arcadia Power

2) The $150m venture financing of Mainspring Energy by Bill Gates,Impresa Management,Khosla Ventures,Lightrock,Lineage Ventures and Princeville Capital

3) Amazon Climate Pledge Fund,Ecosystem Integrity Fund,Future Shape and I Squared Capital $31m venture financing deal with Ambient Photonics

4) The $23m venture financing of SparkCharge by Mark Cuban Companies,Pendulum Holdings,Pusha T,Rise of the Rest Seed Fund,Silicon Valley Bank,Summer Watson and Tale Venture Partners

5) S2G Ventures $16.5m venture financing deal with Common Energy