Mintz’s Commitment to Energy Transition Underscored by Roles on $4.6 Billion in Deals
BOSTON – Mintz’s leading Energy & Sustainability practice closed 57 deals worth $4.6 billion last year, as global investment into energy transition and climate technology skyrocketed.
Led by Co-Chairs Tom Burton and Sahir Surmeli, and comprising Projects & Infrastructure Chair Ayaz Shaikh and Member Paul Dickerson, 2022 marked another record year for Mintz’s team. Last year also saw the low-carbon and energy transition sectors receive a monumental rise in investment, totaling $1.1 trillion globally.
Deal highlights for Mintz in 2022 included:
- Representing NET Power in its $1.459 billion business combination with Rice Acquisition Corp. II. NET Power is a clean energy technology company whose proprietary technology delivers clean, reliable and low-cost power from natural gas.
- Advising Nuvve Corporation (NASDAQ: NVVE) with respect to its portfolio of EV charging-as-a-service business and announced a $750 million joint venture with Stonepeak Infrastructure Partners.
- Acting for Aspen Aerogels, Inc. in its $275 million public offering underwritten by Cowen and Company, LLC and Barclays Capital Inc.
- Acting for Rhombus Energy Solutions, a leading EV Charging and Energy Management Solutions provider, in its $185 million sale to automotive parts dealer, BorgWarner.
- Representing SunPower in connection with the sale of its entire U.S. solar C&I business to TotalEnergies. This was a major transaction consisting of hundreds of projects across 30 U.S. states.
- Representing Mitsui in all aspects of its interest in Vientos Los Hercules, a 97 mw wind project in Argentina under the Renovar program, including advising on the acquisition of its initial interest; as co-sponsor in the development and complex multi-tranche project financing of the project; the subsequent debt restructuring of the project; and the sale of its interest in the project to TotalEnergies.
- Acting for BlueWave, a solar and energy storage developer, in its sale to Axium Infrastructure, an infrastructure private equity firm with a deep North American renewables portfolio.
Mr. Burton said: “2022 was characterized by the record upward trajectory of investment into energy transition and sustainable infrastructure and our team, once again, was on the forefront. Each of the deals that Mintz advised on stood out for the creativity that our nimble team applied to ensure successful outcomes for our clients. On every matter, we collaborated across the firm to ensure we delivered unparalleled service and that shows in the sheer number of transactions that we advised on last year.”
In the first two months of the year, Mintz’s Energy & Sustainability team has advised on deals worth more than $435 million. Those transactions include:
- Acting for Boston Metal in its $120 million Series C financing, led by ArcelorMittal.
- Representing Aeroseal in its $30 million Series B financing led by OCGI.
- Acting for SOURCE Global, the developer of a technology that generates drinking water from the atmosphere, in its acquisition of the spring water brand Proud Source Water.
Mr. Burton continued, “This year is no different. I believe the high level of investment in clean energy and sustainability is only going to continue throughout the year and beyond. Significant transactional activity, from financing to M&A and creative joint ventures deploying novel business models, is accelerating the scaling of energy transition technologies and infrastructure throughout the business ecosystem.”
Mintz continues its leadership role in the sustainability market. The firm was one of the first law firms to develop a practice focused on clean energy and sustainable infrastructure two decades ago and has been the leading law firm in the industry since the earliest days of this technology revolution. The Mintz Energy & Sustainability Practice serves more than 250 clients, spanning the ecosystem from emerging companies to large corporations, private equity and venture capital funds, investment banks, project developers and project finance funds, and family offices. At the frontlines of the energy and sustainability revolution since the start, the team was built for this moment: to advance innovation, transform infrastructure, and scale solutions integral to business success and a thriving planet.