Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CESTVenture capital (VC) funding for battery storage companies surged in the second quarter of 2017 to USD 422 million (EUR 362m) from USD 58 million in the previous quarter and USD 125 million in the year-ago quarter, according to Mercom Capital Group llc.
The jump was due to one big deal in the period where Microvast Power of China raised USD 400 million from investors including CITIC Securities, CDH Investment and National Venture Capital. The other top deals saw Vionx Energy get USD 12.75 million and Moixa Technology raise USD 3.2 million.
Overall, the number of VC deals was 10, compared to eight in the first quarter of 2017 and 10 in the second quarter of 2016.
In the first half of 2017, battery storage companies raised USD 480 million in 18 deals, up from USD 179 million in 20 deals a year earlier. The number of debt and public market financing deals in the sector was nine, valued at USD 129 million, compared to three deals for USD 69 million in the first half of 2016.
In the six-month period, there were four mergers and acquisitions (M&A) transactions compared to six a year ago.
(USD 1 = EUR 0.859)
Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
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