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Energy & Sustainability M&A Activity — June 2022

Recent M&A Activity:

May 3, 2022: NuScale (NYS: SMR) acquired Spring Valley Acquisition through a reverse merger, resulting in the combined entity trading on the New York Stock Exchange under the ticker symbol SMR on May 3, 2022. NuScale Power Corp. is engaged in the development of a new modular light water reactor nuclear power plant to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications.

May 3, 2022: Frontline Power Solutions, a provider of comprehensive energy solutions, reached a definitive agreement to be acquired by SinglePoint (PINX: SING), a subsidiary of Carbon Credit International, for an undisclosed amount on May 3, 2022. The company specializes in electrical supply, demand response, and energy efficiency programs in deregulated markets, enabling clients to avail themselves of multiple energy strategies and solutions.

May 5, 2022: Tangent Energy Solutions, an operator of an energy production agency intended to develop renewable energy projects, was acquired by Caterpillar (NYS: CAT) for an undisclosed amount on May 5, 2022. Tangent Energy Solutions' agency monitors grid, facility, and on-site generation assets. It also alerts customers ahead of high-value economic opportunities, enabling them to get the technology and resources needed to realize the economic benefit of the role their energy systems play in energy markets.

May 11, 2022: AutoGrid, a developer of energy-internet applications designed to integrate all distributed energy resources, reached a definitive agreement to be acquired by Schneider Electric (PAR: SU) for an undisclosed amount on May 11, 2022. The company's applications offer to mine the energy internet's rich data lode to extract flexible capacity from distributed energy resources, enabling clients to deliver clean, affordable, and reliable energy in a distributed energy world. The acquisition will provide AutoGrid with the resources and global reach to accelerate its growth and pace of product innovation.

May 12, 2022: Amprius, a developer of high energy density lithium-ion batteries designed to produce a significant amount of energy and power with less weight and volume, reached a definitive agreement with Kensignton Capital Acquisition Corp. IV to be acquired through a reverse merger, resulting in the combined entity trading on the New York Stock Exchange under the ticker symbol AMPX on May 12, 2022.

May 24, 2022: Urjanet, a developer of an energy utility data platform designed to provide the world with easy access to automated utility data, was acquired by Arcadia for an undisclosed amount on May 24, 2022. The company's cloud-based platform captures online data feeds and connects directly to utilities to seamlessly acquire and normalize disparate utility bill and interval data, enabling organizations to manage company-wide power usage and their carbon footprint and evaluate power investments.

*Source: PitchBook 


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Thomas R. Burton, III

Member / Chair, Energy & Sustainability Practice

Tom Burton has helped to shape the clean energy industry by drawing on his passion for innovation. As a Mintz attorney, Tom counsels investors, entrepreneurs, and Fortune 100 companies. He also guides start-up organizations and accelerators to foster the next generation of energy leaders.

Sahir Surmeli

Member / Co-chair, Energy & Sustainability Practice

Sahir Surmeli is a Mintz business counselor who advises companies, boards, entrepreneurs, investment banks, and venture and private equity investors as they build and grow companies. He handles public offerings, 144A and private financings, acquisitions, joint ventures, and strategic partnerships.