Energy & Sustainability M&A Activity — May 2023
April 11, 2023: Siren Energy, a provider of global energy transition technology intended to work with lower-emission fuels, was acquired by Liberty Energy. The $78 million acquisition will hasten the growth of Liberty Power Innovations – a provider of integrated alternative fuel and power solutions that utilize natural gas to generate electricity remotely. Siren Energy engages in the global energy transition towards net zero emissions by providing alternative bulk fueling via CNG, RNG, and hydrogen, as well as pipeline support and flare-capture services, thereby enabling the reduction of customers’ carbon footprint.
April 19, 2023: Sunenergy Renewables, a provider of integrated rooftop solar, energy storage, and energy efficiency solutions, entered into a definitive business combination agreement with ESGEN Acquisition Corp. The proceeds from the transaction will help Sunergy’s plans to consider strategic acquisitions of attractive targets to fuel growth and consolidate smaller companies in the heavily fragmented residential solar industry.