Energy Growth Capital Investments in 2024
Acquisition Volume in Energy Growth Capital Investments in 2024 by Year
Last 5 years
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December 19, 2024
- Buyer
- Waterland Private Equity
- Target
- Groupe GUINIER 1823
- Industry
- Energy
- Location
- France
- Type
- Growth capital
Waterland Private Equity has invested in Groupe GUINIER 1823, supporting the family-led group's plan to accelerate its growth as a French leader in the energy transition. The partnership will help Guinier scale its HVAC and electrical engineering, multi-technical maintenance and construction capabilities and expand geographically and strategically.
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December 5, 2024
- Buyer
- Harrison Street
- Target
- CPV Renewable Power LLC
- Seller
- Competitive Power Ventures (CPV)
- Industry
- Energy
- Location
- Maryland, United States
- Type
- Growth capital
Harrison Street completed a previously announced investment to acquire a 33.33% interest in CPV Renewable Power LLC, a wholly-owned subsidiary of Competitive Power Ventures (CPV), funding $200 million of a $300 million commitment in November 2024 with the remaining $100 million expected in 2025. The investment provides growth capital to support CPV Renewable's development, construction and ownership of renewable power projects in the United States.
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November 11, 2024
- Buyer
- Waterous Energy Fund Management Corp.
- Target
- Greenfire Resources Ltd.
- Seller
- Allard Services Limited, Annapurna Limited, Modro Holdings LLC, Julian McIntyre, Venkat Siva
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Waterous Energy Fund Management Corp., acting for its Waterous Energy Fund III limited partnerships, closed its previously announced acquisition of 29,988,854 common shares of Greenfire Resources Ltd., representing about 43.3% of Greenfire’s issued and outstanding shares. The stake was acquired for cash consideration following regulatory approvals, including an Alberta Securities Commission decision to cease trade Greenfire’s initial shareholder rights plan.
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October 24, 2024
- Buyer
- BP Energy Partners, LLC
- Target
- Novitech, Inc.
- Seller
- Campos Holding Company
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
BP Energy Partners, a Dallas-based private equity firm, has completed a growth investment in Novitech, an inline pipeline inspection technology and data analytics company headquartered in Toronto. The Campos Family (Campos Holding Company) will retain a significant minority stake and proceeds will support Campos' broader operations while BPEP will help scale Novitech's proprietary Micron inspection technology.
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September 25, 2024
- Buyer
- NPM Capital
- Target
- Jeco Energies
- Seller
- Jef van den Brande
- Industry
- Energy
- Location
- Antwerp, Belgium
- Type
- Growth capital
NPM Capital has agreed to acquire a significant minority interest in Belgian industrial energy solutions provider Jeco Energies to accelerate growth through strategic acquisitions and international expansion. The investment will provide capital, buy-and-build expertise and support Jeco's expansion of its rental fleet and international footprint while founder Jef van den Brande remains the majority shareholder.
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September 17, 2024
- Buyer
- CDPQ
- Target
- AES Ohio
- Seller
- The AES Corporation
- Industry
- Energy
- Location
- United States
- Type
- Growth capital
The AES Corporation agreed to sell a 30% indirect equity interest in AES Ohio to CDPQ for approximately US$546 million, with closing expected in the first half of 2025. The transaction expands AES’s existing CDPQ partnership model used at AES Indiana while keeping no change in management or operational control of AES Ohio.
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September 9, 2024
- Buyer
- LGT Capital Partners, Hamilton Lane
- Target
- H&MV Engineering
- Industry
- Energy
- Location
- Limerick, Ireland
- Type
- Growth capital
LGT Capital Partners and funds managed by Hamilton Lane have made minority investments in Exponent-backed H&MV Engineering, valuing the Irish high-voltage engineering specialist at €750 million. The growth-capital deal will support H&MV’s international expansion, capability development and continued growth across data centre, renewables and utilities end markets.
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July 10, 2024
- Buyer
- Edison Partners
- Target
- Seismos
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
Edison Partners has made a $15 million growth equity investment in Seismos to accelerate the adoption of its AI-powered acoustic sensing platform across oil & gas and into new end markets such as geothermal and mining. The capital will support Seismos' global expansion, product scaling, and commercialization of its predictive analytics and digital infrastructure solutions from its Austin, Texas headquarters.
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- Buyer
- Krystal Growth Partners
- Target
- Enex Energy Corporation
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Growth capital
Krystal Growth Partners has acquired a 50% interest in Enex Energy Corporation, a wholesale distributor of Esso fuels and Mobil lubricants that serves commercial customers across Vancouver Island, the Lower Mainland, Northern British Columbia and Alberta. The investment will partner Krystal's capital and expertise with Enex management to support the company's next phase of growth, including market and product expansion.
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- Buyer
- Tiger Infrastructure Partners (Fund III)
- Target
- Unison Energy
- Industry
- Energy
- Location
- Connecticut, United States
- Type
- Growth capital
Tiger Infrastructure Partners (Fund III) completed a growth capital acquisition of Unison Energy LLC, an Energy-as-a-Service microgrid platform that designs, builds, owns and operates behind-the-meter microgrids for commercial and industrial customers. Unison, headquartered in Greenwich, Connecticut, owns and operates ~30 projects across hospitals, data centers, hospitality, food & beverage and other industrial end-markets; the investment is the final platform investment for Tiger’s $1.25 billion Fund III.
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June 5, 2024
- Buyer
- YFM Equity Partners
- Target
- Fuuse
- Industry
- Energy
- Location
- Lancashire, United Kingdom
- Type
- Growth capital
YFM Equity Partners has made a £5 million growth capital investment in Fuuse, a Lancaster-headquartered EV charge point management software platform. The funding will support Fuuse's expansion of its customer base and increased density across the UK market.
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- Buyer
- HEST Investments
- Target
- Valerion
- Industry
- Energy
- Location
- Michigan, United States
- Type
- Growth capital
Dallas-based family office HEST Investments made a growth-stage investment in Valerion, a University of Michigan–based battery technology company, in June 2024. The capital will fund further testing and development as Valerion advances its battery technology toward commercialization for EVs and other energy-storage markets.
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- Buyer
- Brookfield Asset Management (direct lending infrastructure fund)
- Target
- PosiGen
- Industry
- Energy
- Location
- Louisiana, United States
- Type
- Growth capital
PosiGen received an additional $150 million commitment from a direct lending infrastructure fund managed by Brookfield Asset Management, bringing Brookfield's total funding commitment to $400 million. The growth capital injection provides working capital to scale PosiGen's residential solar and energy-efficiency programs for underserved U.S. homeowners.
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April 25, 2024
- Buyer
- Blue Earth Capital, Alantra (Energy Transition Fund, Klima), Active Impact Investments, GIGA Investments Corp
- Target
- SWTCH
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Growth capital
SWTCH (SWTCH Energy), a Toronto-based provider of EV charging and building energy management solutions for multifamily and commercial properties, raised $27.2 million in a Series B round led by Blue Earth Capital alongside Alantra's Klima fund, Active Impact Investments and GIGA Investments Corp. The growth capital will be used to scale SWTCH's multi-tenant EV charging deployments across North America and to advance its AI/ML-enabled SWTCH Control energy management platform and software integrations for property managers.
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- Buyer
- Rubicon Technology Partners
- Target
- Ascend Analytics
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Growth capital
Rubicon Technology Partners has made a strategic growth investment in Ascend Analytics to support the company’s product development and commercial expansion in energy market analytics. Ascend Analytics, a Boulder-based provider of power market intelligence and forecasting solutions, will leverage the investment to scale its SaaS offerings and expand market reach.
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- Buyer
- Palisade Infrastructure, SER Capital Partners
- Target
- MicroGrid Networks, LLC
- Industry
- Energy
- Location
- New York, United States
- Type
- Growth capital
MicroGrid Networks (MGN), a Brooklyn-based developer, owner and operator of battery energy storage and EV charging systems, received a strategic growth investment from Palisade Infrastructure in partnership with majority-owner SER Capital Partners. The capital will support MGN's expansion across New York City and adjacent markets, accelerating deployment of battery energy storage projects and expanding the company's development and operations pipeline.
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February 16, 2024
- Buyer
- Black Bay Energy Capital
- Target
- Capture Energy, LLC
- Industry
- Energy
- Location
- Oklahoma, United States
- Type
- Growth capital
Black Bay Energy Capital has made a growth capital investment in Capture Energy, LLC to accelerate production and distribution of Capture's patent-pending Capture Compressor for oil & gas production facilities. The funding will support scaling manufacturing and deployment to help operators meet emissions-reduction and regulatory requirements across U.S. production regions.
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February 15, 2024
- Buyer
- Hanover Investors
- Target
- New Era Energy
- Industry
- Energy
- Location
- Essex, United Kingdom
- Type
- Growth capital
Hanover Investors has made a significant equity investment in New Era Energy, partnering with James Hunt (now CEO) and the existing team to support growth and expand the company's environmental fuel offering. New Era Energy, headquartered in Essex, United Kingdom, is a distributor of liquid fuels (including White Diesel and HVO), consumables and environmental services with over 150 employees, 10 depots, 50+ tankers and a delivery volume exceeding 200 million litres per year. The investment was made via Hanover Active Equity Fund III.
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February 12, 2024
- Buyer
- SCF Partners, Inc., Macquarie Capital Principal Finance
- Target
- Camin Cargo Control Holdings, Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
SCF Partners has made a strategic equity investment in Camin Cargo Control Holdings, Inc., joining Macquarie Capital Principal Finance which acquired Camin Cargo in late 2023. The investment will support Camin Cargo's international expansion, capability build-out in testing, inspection and certification (TIC) services for liquid fuels, and continued growth into renewable fuels testing and related services.
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February 12, 2024
- Buyer
- Endeavour Capital, Greenbelt Capital Partners
- Target
- CTC Global Corporation
- Industry
- Energy
- Location
- California, United States
- Type
- Growth capital
Endeavour Capital and Greenbelt Capital Partners have completed a strategic growth investment in CTC Global Corporation, a California-based manufacturer of advanced composite conductor cores for high-voltage transmission lines. The capital will support CTC's global commercialization and capacity expansion of its ACCC Conductor and InfoCore System to help utilities modernize transmission infrastructure and integrate more renewable generation.
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January 17, 2024
- Buyer
- GEF Capital Partners
- Target
- Next Step Energy Solutions
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Growth capital
GEF Capital Partners has completed a growth investment in Next Step Energy Solutions (NSES), a Littleton, Colorado–based provider of turnkey LED lighting retrofit and tech-enabled energy efficiency services. The investment will help NSES expand its customer base and geographic reach across the United States to meet growing demand for energy efficiency solutions.
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January 12, 2024
- Buyer
- Arkema, Stellantis Ventures, MBDA
- Target
- Tiamat
- Industry
- Energy
- Location
- France
- Type
- Growth capital
Arkema has become a shareholder in Tiamat, a French start-up spun off from CNRS that develops sodium‑ion battery cells, participating in a €22 million fundraising alongside strategic investors Stellantis Ventures and MBDA. The funding will support Tiamat's plan to build a 5 GWh gigafactory in France (with an initial 0.7 GWh tranche targeted by end‑2025) and accelerate Arkema's development of battery‑materials solutions for lithium‑free storage technologies.
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