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

23 February 2021 (Last Updated February 23rd, 2021 13:22)

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.

Visit our ‘Power Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the power industry.