Each week our research team tracks cleantech transactions across the globe. This week we recorded 15 VC/PE deals, five fund announcements, three M&As, two transactions of other types and three IPO-related stories. Below are some of the highlights. Cleantech Group subscribers can see the full roundup of all the deals here.
Venture capital and private equity Investments
Over $137 million of venture/private equity fund was raised by 15 cleantech companies, the two largest deals were:
- China-based concentrated solar thermal device and solution provider Royal Tech Solar received a RMB 125 million (~$35.7 million) investment from Chinese investment firm Tripod Capital. Royal Tech is already a leader in the market and has received numerous government grants, including several project offers in the 12th Five-year Plan.
- Massachussets-based nanotechnology company QD Vision raised $22 million in its most recent funding round. The financing was backed by new investors Passport Capital, Novus Energy Partners and Capricorn Investment Group, as well as existing investors North Bridge Venture Partners, Highland Capital Partners, In-Q-Tel and DTE Energy Ventures. The proceeds will be used to expand the company’s quantum dot technology.
Five fund managers launched or closed funds. Highlights included:
- Aloe Private Equity, a Mauritius-based Asia-focused private equity firm, announced a plan to raise €350 million (~$501 million) for Aloe Environment Fund III to invest in companies developing environmental technologies. The fund will make investments in eight to ten companies in fields such as waste management, recycling, water and energy efficiency that want to expand into Asia.
- NatWest/Royal Bank of Scotland revealed a plan to create a dedicated £50 million (~$81 million) cleantech fund and renewable energy team to help meet demand from UK businesses looking for cleantech-related funding.
Mergers and acquisitions
Three cleantech M&A transactions were tracked this week. The most significant one was:
- General Electric (GE) acquired Irish powerline monitoring company FMC-Tech for an undisclosed amount. FMC-Tech, founded in 2001, fits cables with sensors that can measure current and conductor temperature and can send that information to a controller, which then sends it back to the utility via a cellular connection. The company was also a winner of GE’s smart grid challenge program, which was launched last year.
Initial public offerings
Three companies discussed about, filed for or made IPO. The most significant one was:
- Ceres, a California-based agricultural technology company backed by a fleet of private equity and venture capital companies, filed to raise up to $100 million through a NASDAQ listing. The company sells seeds to produce renewable biomass feedstocks, which it claims in its IPO prospectus have the potential for the large-scale replacement of petroleum and other biofuels.
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