London, UK 18 January 2021
Cleantech Group awarded IP Group the European Deal of the Year for its exit from Ceres Power. The award recognizes the stand-out deal for 2020, considered not only on its financial characteristics, but also on the wider impact and what the deal says for the future of deal-making for clean technology companies and investors, and for the direction and future of sustainable innovation.
The award highlights the growing need not only for new technology and business models, but for transformative alliances that can unlock markets and achieve the scale to transform current chaos and deliver a de-carbonized future.
Why this deal?
“With its original investment into Ceres Power in 2012, IP Group took a very contrarian view in the doldrums of the cleantech innovation theme, and at a low point of market enthusiasm for fuel cells,” said Richard Youngman, CEO, Cleantech Group. “With a spectacular return on investment now realised in 2020, when hydrogen is one the hottest subjects around, this is a highly worthy winner of our 2020 European Deal of the Year!”
About Cleantech Group
At Cleantech™ Group, we provide research, consulting and events to catalyze opportunities for sustainable growth powered by innovation. We bring clients access to the trends, companies and people shaping the future and the customized advice and support businesses need to engage external innovation.
Industries are undergoing definitive transitions toward a more digitized, de-carbonized and resource-efficient industrial future. At every stage from initial strategy to final deals, our services bring corporate change makers, investors, governments and stakeholders from across the ecosystem, the support they need to thrive in this fast-arriving and uncertain future.
The company was established in 2002 and is headquartered in San Francisco with people based in London, Paris and Boston.