It was an exciting week in clean technology, with several companies raising venture funding and some impactful M&A activity.
Arctic Sand, one of last year’s Cleantech Open competition standouts, announced $9.6 million in additional Series A funding. Existing investors Northwater Capital Management and Arsenal Venture Partners participated in the round, and were joined by new strategic investors Energy Technology Ventures (a joint venture involving ConocoPhillips, GE and NRG Energy) and Dialog Semiconductor.
Following on the back of SolarCity’s big IPO last month, solar financier and integrator Sungevity raised $125 million in new financing, split between project finance and new equity capital. The equity portion, at $40 million, and which the company began raising in January, 2012, included participation from new investors Craton Equity Partners, Vision Ridge Partners, and corporate strategic investor Lowe’s.
In France, hydrogen storage specialist McPhy Energy announced €10 million in new equity funding and its acquisition of Italian electrolysis pioneer PIEL. Half of the new funding came from the French Ecotechnologies fund, managed by CDC Enterprises, which was joined by existing investors including Emertec, Gimv, Soffinova Partners.
These were only a handful of the deals we tracked this week, so read on for complete coverage.
Finally, Cleantech Group Forum San Francisco is coming up soon (March 18-20), followed less than a month later by Cleantech Forum Europe in Bilbao (April 16-18). We would love to see you at one or both events. Register today!
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