Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CESTVenture capital (VC) funding for battery storage companies rose to USD 83 million (EUR 71m) in the third quarter of 2017 from USD 30 million a year ago, but fell from USD 422 million in the previous quarter, according to Mercom Capital Group llc.
The second quarter tally was boosted by one big deal, where Microvast Power of China raised USD 400 million.
The number of deals in the third quarter was seven, compared to 10 in the second quarter and nine in the third quarter of 2016. The top VC funded companies were Advanced Microgrid Solutions, Romeo Power and Gridtential Energy, all of the US, which raised USD 34 million, USD 30 million and USD 11 million, respectively.
In the first nine months of 2017, VC funding in the sector went up to USD 563 million from USD 209 million a year earlier. There were 11 debt and public market financing deals worth USD 174 million, up from six deals for USD 120 million in the first nine months of 2016.
In the third quarter there was one merger and acquisition (M&A) transaction -- Aggreko plc's (LON:AGK) takeover of Younicos. In the nine-month period the number of M&A deals was five, down from nine in the same period of 2016.
(USD 1 = EUR 0.852)
Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
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