$614 million was raised in July by cleantech companies Field, Power2X, PVcase, AMEA Power and Nuru

The top 5 cleantech investments in July 2023?

Field Secures $256M Investment from DIF Capital Partners for Renewable Energy Expansion

Field, a UK-based battery storage company, has received a $256 million investment from DIF Capital Partners. This money comes from DIF's Infrastructure VII fund and will be used by Field to push forward its 4.5 GWh battery storage projects in the UK and Western Europe. The goal is to improve the area's renewable energy sources and help meet environmental targets.

The company, set up by Mr Amit Gudka, has already built a 20 MWh facility in Oldham, Greater Manchester. They're also working on four more projects that, when added up, will offer 210 MWh of storage in places like Newport and Blackburn.

Amit Gudka emphasised the important role of battery storage in hitting net zero objectives, noting the bolstered capacity for wind and solar power deployment. The collaboration with DIF Capital Partners will quicken the pace of battery storage expansion across the UK and Europe, cultivating a resilient, adaptive, and eco-friendly power grid. https://bit.ly/3OEiBRQ

Power2X and CPP Investments Form $143M Partnership for Green Energy

Power2X, a Netherlands-based green molecule company, and the Canada Pension Plan Investment Board (CPP Investments) have announced a strategic partnership to further the global energy transition. The partnership will involve a $143 million investment to boost Power2X's growth and support its green molecule projects, encompassing green hydrogen, methanol, and ammonia. This initiative aligns with the visions of both companies for a sustainable future, with CPP Investments acquiring a majority stake in Power2X.

Occo Roelofsen, CEO of Power2X, reflected on the company's fast growth since its 2020 foundation, mentioning their active involvement in significant hydrogen projects like ErasmoPower2X and MadoquaPower2X. By joining CPP Investments' Sustainable Energies group's portfolio, Power2X aims to strengthen its leadership in the green molecule transition, addressing emission challenges in hard-to-abate sectors. https://bit.ly/3DlYAsA

PVcase Secures $100M Investment to Tackle Solar Industry's Data Risk

PVcase, a European-based solar project design software leader, has successfully raised $100 million in funding, pushing its total capital to over $123 million. The investment round was led by Highland Europe, Energize Ventures, and continued backing from existing investor Elephant. This capital underscores the urgency to address the solar industry's increasing "data risk" problem due to a lack of digitisation in the engineering sector. PVcase has positioned itself at the forefront by enhancing design efficiency, speed, and precision.

The company’s CEO, David Trainavicius, emphasised that "data risk" is emerging as a major technical bottleneck for the industry. The issue primarily arises from outdated data formats and disjointed software platforms, causing developers to handle up to 70 diverse data sets manually, thus compromising data integrity. To combat this, PVcase plans to unveil a holistic solar design platform. Their recent acquisition of Anderson Optimization and integrating the latter's software in European markets like Germany, Spain, and the UK will further expedite design processes from weeks to approximately 20 minutes. https://bit.ly/3Q9Ou60

AMEA Power Secures $75M from SoftBank Group for Expansion and Energy Transition

AMEA Power, a Dubai-based leading renewable energy developer, has secured $75 million in equity funding from the Japanese investment holding company SoftBank Group Corp. (SBG). This investment marks AMEA Power's inaugural external equity funding, previously backed by its founding shareholders, the AlNowais family. The funding will pave the way for a collaborative partnership between AMEA Power and SBG, focusing on enhancing value creation predominantly in the AMEA region. Moreover, several global strategic corporate and financial institutions are considering potential investments.

Since its establishment in 2016, AMEA Power has showcased its expertise in the renewable energy sector across Africa, the Middle East, and other emergent markets. The company boasts an operational and constructional generating capacity of approximately 1.45 GW and is steering a clean energy pipeline of nearly 6 GW across 15 countries. https://bit.ly/3JWIJEz

Nuru Raises $40M in Series B Funding to Expand Solar Access in DRC

Nuru, a Democratic Republic of Congo-based energy firm, has secured $40 million in a Series B equity round. Previously known as Kivu Green Energy and founded in 2015, Nuru is known for pioneering mini-grid construction in DRC's urban centres using renewable energy, including a 1.3-megawatt facility in Goma in 2020.?

This latest investment, spearheaded by the Global Energy Alliance for People and Planet (GEAPP), the Renewable Energy Performance Platform (REPP), Proparco, E3 Capital, Voltalia, the Schmidt Family Foundation, GAIA Impact Fund, and the Joseph Family Foundation, aims to further Nuru's mission of providing daily electricity access to five million Congolese. Additionally, Nuru anticipated securing $28 million more in project finance by July's end, with a portion originating from the Finland-IFC Blended Finance for Climate Programme.

The capital will facilitate the construction of three mini-grids in Bunia, Kindu, and Goma, with a combined capacity of 13.7 megawatts. https://bit.ly/3qmPid1

Featured Innovator: Oscilla Power Triton Wave Energy Converter

Oscilla Power's Triton is an innovative wave energy converter that captures energy in all six degrees of freedom (heave, pitch, surge, sway, yaw, and roll), enabling increased energy production and cost-efficiency in diverse ocean conditions. Validated by the US Department of Energy, its unique drivetrain design offers consistent power output and advanced energy management. For deployment, Triton employs a cost-effective, self-deployable system using flexible tendons, eliminating the need for specialised equipment. Engineered for high survivability, Triton can withstand extreme oceanic conditions, utilising strategies like full submersion in the most severe waves while still generating power, and boasts multiple redundancies for enhanced reliability.

Learn more about this innovative energy wave converter at Time and Oscilla Power.?

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The Endow Capital Team

Endow Capital meets the most pressing global development issues by matching innovative companies with impact capital, achieved by its corporate finance advisory and strategic consulting services. Find out more about our work.