GA Drilling Secures $15M First Close from Nabors, alfa8, Underground Ventures, Neulogy Ventures and Thomas von Koch

Dandelion Energy Acquires Glacier Drilling

January 18, 2022

Renewable Energy

Dandelion Energy has acquired Glacier Drilling, a Connecticut-based drilling team led by Mark Schock, to support expanded geothermal installation capacity across the Northeastern United States. The deal brings 26 years of drilling and geotechnical experience into Dandelion’s operations to help mobilize more crews and accelerate homeowner geothermal installations across New York, Connecticut, Massachusetts and Vermont.

Subterra Renewables Acquires Earth Drilling Co. and Harris Exploration to Expand Geothermal Drilling Coast-to-Coast

October 27, 2023

Renewable Energy

Subterra Renewables' affiliated companies have acquired Alberta-based Earth Drilling Co. Ltd. and Nevada-based Harris Exploration to expand coast-to-coast geothermal drilling capacity across Canada and the U.S. The deals add experienced drilling teams and rigs, support the launch of a Calgary office led by Matthew Tokarik, and strengthen Subterra's vertically integrated geothermal services and utility offerings.

Kerogen Capital and Thrive Renewables Invest in Geothermal Engineering Ltd

March 8, 2023

Renewable Energy

Kerogen Capital (through its CelerateX platform) and Thrive Renewables plc provided £15 million of funding to Geothermal Engineering Limited (GEL) — £12 million from Kerogen and £3 million from Thrive — to advance the United Downs deep geothermal project in Cornwall and accelerate GEL's UK geothermal portfolio. The capital will fund completion of the United Downs plant (targeting electricity production by 2024) and support GEL's goal of delivering 25 MWe of baseload electricity and 100 MWth of heat across its portfolio by 2028.

ADNOC Drilling / Alpha Dhabi JV (Enersol) Acquires 25% Stake in Gordon Technologies

January 9, 2024

Energy

ADNOC Drilling and Alpha Dhabi have incorporated a joint venture (Enersol) at Abu Dhabi Global Market and completed the JV's inaugural strategic investment by transferring Alpha Dhabi’s 25% equity stake in US-based Gordon Technologies into the JV (valued at roughly $180 million). The move gives the JV an equity position in a leading measurement-while-drilling (MWD) technology provider and is intended to accelerate capability expansion in tech-enabled energy services and optimise drilling operations for ADNOC Drilling.

NV5 Acquires Geodynamics to Expand Deep-Water Geospatial Capabilities

March 29, 2021

Engineering Services

NV5 Global, Inc. acquired Geodynamics LLC for $42 million (including an earn-out) in a cash-and-stock deal to expand NV5's geospatial services into full-ocean depth hydrographic and geophysical surveying. Geodynamics, headquartered in Morehead City, North Carolina, will operate within NV5's Geospatial vertical to support projects for NOAA, the U.S. Army Corps of Engineers, the U.S. Navy and other government and port/transportation clients.

Novus Capital II Completes SPAC Combination with Energy Vault

February 11, 2022

Energy

Novus Capital Corporation II completed its business combination with Energy Vault, creating Energy Vault Holdings, Inc. and providing approximately $235 million of gross proceeds plus an expanded PIPE to fund commercial scale-up. The combined company will trade on the NYSE under ticker NRGV and will use the proceeds and strategic partnerships (including Korea Zinc and Atlas Renewable) to scale its gravity-based, grid-scale energy storage technology and energy management software globally.