Total power industry venture financing deals worth $881.7m were announced in the US in June 2022, led by $198m venture financing of Electric Hydrogen, according to GlobalData’s deals database.

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The value marked an increase of 33.4% over the previous month of $661.05m and a rise of 20.1% when compared with the last 12-month average of $733.98m.

The US held a 45.92% share of the global power industry venture financing deal value that totalled $1.92bn in June 2022.

In terms of venture financing deal activity, the US recorded 23 deals during June 2022, marking a decrease of 28.13% over the previous month and a drop of 11.54% over the 12-month average.

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

The top five power industry venture financing deals accounted for 55.9% of the overall value during June 2022.

The combined value of the top five power venture financing deals stood at $493m, against the overall value of $881.7m recorded for the month.

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

1) Breakthrough Energy Ventures,Capricorn Partners,Climate Pledge Fund,Cosan,Energy Impact Partners,Equinor Ventures,Fifth Wall Ventures Management,Honeywell,Mitsubishi Heavy Industries,Prelude Ventures,Rio Tinto,S2G Ventures,Silicon Valley Bank and Trinity Capital $198m venture financing deal with Electric Hydrogen

2) The $160m venture financing of Zap Energy by Breakthrough Energy Ventures,Chevron Technology Ventures,DCVC,Energy Impact Partners,Lowercarbon Capital,Shell Ventures and Valor Equity Partners

3) Carrier Global,Citi Impact Fund,City Light Capital,ClearSky Ventures,Elemental Excelerator,Floodgate Fund,Japan Energy Fund,Radicle Impact,Sidewalk Infrastructure Partners,SunPower and TELUS Ventures $55m venture financing deal with OhmConnect

4) The $46m venture financing of AMOGY by Amazon Climate Pledge Fund,AP Ventures,New Lab,Saudi Aramco Energy Ventures and SK Innovation

5) AP Ventures,Breakthrough Energy Ventures,ENGIE New Ventures,Eni Next,Mitsubishi Heavy Industries,SK Gas and Trafigura $34m venture financing deal with Czero