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  1. Deals Analysis
February 23, 2021

Power industry venture financing deals total $828.75m in North America in January 2021

By Baghmar P

Total power industry venture financing deals worth $828.75m were announced in North America in January 2021, led by $590m venture financing of Sila Nanotechnologies, according to GlobalData’s deals database.

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The value marked an increase of 438.7% over the previous month of $153.85m and a rise of 418.2% when compared with the last 12-month average of $159.93m.

North America held a 76.74% share of the global power industry venture financing deal value that totalled $1.08bn in January 2021. With a 76.35% share and deals worth $824.6m, the US was the top country in North America’s venture financing deal value across power industry.

In terms of venture financing deal activity, North America recorded 22 deals during January 2021, marking a decrease of 15.38% over the previous month and a rise of 29.41% over the 12-month average. The US recorded 20 deals during the month.

North America power industry venture financing deals in January 2021: Top deals

The top five power industry venture financing deals accounted for 80.3% of the overall value during January 2021.

The combined value of the top five power venture financing deals stood at $665.45m, against the overall value of $828.75m recorded for the month.

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

1) 8VC , Bessemer Venture Partners, Canada Pension Plan Investment Board, Coatue Management, Sutter Hill Ventures and T Rowe Price Associates’ $590m venture financing of Sila Nanotechnologies

2) The $50m venture financing of FreeWire Technologies by Alumni Ventures Group, BP Ventures, Energy Innovation Capital, Riverstone Holdings and TRIREC Pte.

3) Amazon Alexa Fund and Munich Re Ventures’ $20m venture financing of Span.IO

4) The $3.1m venture financing of SSolstice Power Technologies by Active Impact Investments, American Family Insurance Institute for Corporate and Social Impact, Gratitude Railroad, Halcyon Angels, Hatzimemos Libby Holdings, Massachusetts Clean Energy Center, Next Wave Impact, Powerhouse Ventures, Schneider Electric Ventures, SustainVC and Total Carbon Neutrality Ventures Europe

5) BDC Capital’ venture financing of Ekona Power for $2.35m.

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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