Sustainable Energy & Infrastructure Connections — May 2026

A Note from the Editors

Sustainable Energy & Infrastructure Connections brings the latest developments in energy investing, legal insights, company activity, and industry events straight to your inbox.

Attorney Spotlight: Adam Banack on the Next Generation of Nuclear Energy

With nuclear power re-emerging as a critical piece of the clean energy transition, Adam Banack shares how small modular reactors are moving from concept to deployable infrastructure. Read his perspective on what’s driving momentum in the SMR market, how bankable nuclear deals are taking shape, and where the next wave of innovation is headed.

What nuclear developers and investors should be watching as SMRs move from concept to deployable infrastructure.

Read Adam Banack’s perspective on next‑gen nuclear 

Inside Digital Infrastructure: Spring Lane Capital’s Rob Day on Power Strategy, Microgrids, and What It Takes to Win the AI Race

In this edition of Inside Digital Infrastructure, Rob Day, Partner and Co‑Founder of Spring Lane Capital, joins Sahir Surmeli to unpack how the scramble for power is reshaping data center investment and development. From the rise of “bring your own capacity” strategies to the real economics of microgrids and behind‑the‑meter generation, Rob shares what’s separating winners from the rest in the race to build AI‑ready infrastructure.

Power strategy is becoming the defining advantage in AI‑driven data center investment.

Read the full conversation with Rob Day

Legal Feature: From Energy Transition to Energy Dominance: What the FY2027 DOE Budget Really Says

The FY2027 Department of Energy budget signals a fundamental shift in US energy policy from transition-focused deployment to energy dominance built on reliability, domestic production, and industrial strength. In this analysis, Mintz attorneys John Lushetsky, Myria Garcia, and Neal Martin break down what the proposed budget reveals about the administration’s priorities, which programs stand to gain or lose, and what it means for companies navigating energy, infrastructure, and federal funding landscapes.

The proposed DOE budget signals a reset in federal energy priorities with real implications for project planning and funding.

Understand what the FY2027 DOE budget means 

Client Feature: Sora Fuel

From air to jet fuel without the cost barriers. Our May Client Feature highlights Sora Fuel’s groundbreaking approach to sustainable aviation fuel and Mintz’s role in advising its $14.6 million financing to accelerate commercial scale.

Innovative financing is accelerating the path from sustainable aviation fuel concept to commercial scale.

See how Sora Fuel is scaling SAF 

Sustainable Energy & Infrastructure M&A Activity

March 31, 2026: Bodhi, developer of an artificial intelligence–powered platform designed to enhance customer engagement for solar installers, was acquired by OneEthos for an undisclosed amount. The company’s platform offers automated communication tools, project updates, and referral systems, enabling solar businesses to improve operational efficiency, boost customer satisfaction, and drive organic growth.

April 1, 2026: The Westin Poinsett is an operator of a historic hotel based in Greenville, South Carolina. The company offers a range of services, including on-site restaurants and bars, a business center, meeting and event spaces, a fitness center, free wireless internet, mobile key, guest entertainment, dry cleaning services, 24-hour room service, concierge, daily housekeeping, airport shuttle, parking, electric vehicle charging, and pet-friendly accommodation. The company, a subsidiary of GLC L.P. SC, was acquired by Highline Hospitality Partners for an undisclosed amount.

April 2, 2026: Cummins is a manufacturer of hydrogen fuel cells and related components in Indiana. The company specializes in decarbonizing commercial and industrial transportation and power applications. The business unit (Hydrogen Fuel Cell) of Cummins (NYSE: CMI) was acquired by Alstom (PAR: ALO) for an undisclosed amount. The acquisition will help strengthen Alstom’s strategy in favor of decarbonized rail solutions, particularly on lines where electrification remains too expensive.

April 2, 2026: Clean Energy Services, provider of battery energy storage systems and solar photovoltaic services intended for renewable energy applications, was acquired by FlexGen for an undisclosed amount. The acquisition will allow FlexGen to accelerate its project delivery, enhance system performance, and strengthen long-term asset reliability for customers. The company currently offers design, engineering, procurement, construction, and maintenance of energy storage and solar power systems, enabling commercial and industrial clients to optimize energy usage, reduce operational costs, and support sustainability goals through reliable and efficient clean energy infrastructure.

April 23, 2026: Arena Renewables is a distributor of solar and storage developers to customers and communities across the United States. The company delivers lower power bills and clean energy, thereby using a policy-led approach to develop valuable projects. The company, a subsidiary of CleanCapital, was acquired by Headwater Energy, a subsidiary of Aspen Creek Digital Corporation, for an undisclosed amount.

Sustainable Energy & Infrastructure Litigation & Regulatory Updates

Litigation Updates

On April 7, 2026, the Oklahoma Supreme Court upheld a lower state court’s ruling that the Oklahoma anti-ESG law, which compelled state pension funds to divest from financial firms that boycotted fossil fuels, violated the Oklahoma state constitution, which mandated that the pension funds invest solely in the interests of their participants and beneficiaries, rather than fulfill a political purpose. This ruling is unsurprising, as a similar Texas law was blocked by a federal district court in Texas in early February 2026. Such a development suggests that laws seeking to block state entities from doing business with certain companies based upon a perceived adherence to ESG principles is unlikely to withstand judicial scrutiny.

On March 24, 2026, the Maryland Supreme Court affirmed a lower state court’s dismissal of three climate tort litigations brought by local governments in Maryland. (These lawsuits featured claims by local governments against major fossil fuel companies seeking damages based upon state tort law for damages caused by worldwide greenhouse gas emissions.) The key findings embraced by the Maryland Supreme Court are that these claims are preempted by federal law and otherwise fail to state a claim. This decision is especially significant since state courts have widely been viewed as the friendlier forum for these sorts of claims, yet the Maryland Supreme Court has now resoundingly rejected such claims (and aligns with the reasoning employed by federal courts, including the Second Circuit Court of Appeals).

In related news, on April 15, 2026, the federal district court in Hawaii ruled that the federal government under the Trump administration could not preemptively enjoin the State of Hawaii from pursuing similar climate tort litigation in Hawaii state court.

Regulatory Updates

On March 18, 2026, the Commodity Futures Trading Commission (CFTC) published a notice formally withdrawing its June 2022 request for information on climate-related financial risk in derivatives and underlying commodities markets. This withdrawal was based upon President Trump’s recent revocation of an executive order from the Biden administration on climate-related financial risk, which had provided the framework underlying the CFTC’s request for information. In essence, this action is another instance of the Trump administration’s de-emphasis and de-regulation of climate-related financial risk.

Past Event Highlight: San Francisco Climate Week

During San Francisco Climate Week, we gathered a dynamic mix of climate investors, advanced energy founders, and industry leaders for an evening of connection and conversation. It was a lively cross‑section of the ecosystem driving real climate solutions.

Upcoming Events:

Boston Climate Week
May 3 – 10, 2026
Boston, MA 
More info >>

NEWIEE Annual Awards Gala
May 7, 2026
Boston, MA 
More info >>

Reuters SMR & Advanced Reactor 2026
May 11 – 12, 2026
Austin, TX 
More info >>

Bisnow Data Center Investment Conference & Expo (DICE)
May 12 – 14, 2026
Bethesda, MD 
More info >>

Sustainable Energy & Infrastructure Team — Built For This Moment

At the frontlines of the energy and sustainability revolution since the start, our team was built for this moment: to advance innovation, transform infrastructure, and scale solutions integral to business success and a thriving planet.

We would also like to remind our readers that you can always ask us anything at mintzedge.com/ask-anything/. We built the MintzEdge website as a resource for entrepreneurs and investors, and hope that all of you take advantage of the site and see how it can help you.

Mintz Project Analysts Jordyn Flaherty and Emma Sansom contributed to this edition of the newsletter.

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