Energy & Sustainability M&A Activity — July 2022
Recent M&A Activity:
June 13, 2022: Renewable Energy Group (NAS: REGI) was acquired by Chevron Corp. (NYS: CVX) for $3.15 billion on June 13, 2022. The acquisition is expected to accelerate progress toward Chevron's goal to grow renewable fuels production capacity to 100,000 barrels per day by 2030 and brings additional feedstock supplies and pre-treatment facilities.
June 16, 2022: Renewable Concepts reached a definitive agreement to be acquired by Babcock Power Renewables, a subsidiary of Hudson Investment Group (ASX: HGL), for an undisclosed amount on June 16, 2022. Through this strategic acquisition, Babcock Power Renewables positions itself to expand BPI's overall portfolio of clean energy products and services.
June 17, 2022: Optodot, a developer of nano-composite battery separators and infrared optical coating technologies designed for lithium batteries, reached a definitive agreement to be acquired by Meta Materials (NAS: MMAT) for $48.5 million on June 17, 2022. The company's technology and IP help lithium batteries to operate with greater safety, higher energy density, and lower cost than current products, enabling companies to commercialize products for better energy, security, and communications services that benefit people and the planet.