It was an exciting week in cleantech with investment news and new partnerships formed across several sectors. Some highlights:
It was disclosed via an Israel Corporation regulatory filing that Israeli EV charging infrastructure company Better Place is planning another $100 million venture capital raise to support its work developing a network of battery switching and charging stations in its home country and in Denmark. Israel Corporation, the holding company controlled by Better Place chairman Idan Ofer and already one of Better Place’s largest investors, is expected to lead the round with up to a $67 million investment.
In mergers & acquisitions, Safety-Kleen, the Plano, Texas based provider of industrial cleaning and recycling products and services that’s been preparing for a $400 million IPO, instead agreed to sell itself to environmental, energy, and industrial service provider Clean Harbors for $1.25 billion. It is Clean Harbors’ fourth acquisition in the industry in two years.
In the biofuels space, Danish company Novozymes and Italian developer of non-food, cellulosic biomass feedstocks Beta Renewables formed a joint venture. Under the deal, Novozymes will become the preferred enzyme supplier for Beta Renewables’ plants designed to produce cellulosic ethanol from wood, grasses and inedible parts of food crops. Novozymes took a ten percent stake in Beta Renewables as part of the deal, for $116 million.
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