Recent Deals – 18 January
What does the onset of 2021 mean for cleantech’s progress? Is the pandemic slowing things down or is it full steam ahead? Have a look and decide for yourself.
Agriculture & Food
Air Protein, developer of process to convert carbon dioxide to food using single-celled organisms, raised $32 million in Series A funding from ADM Ventures, Barclays Bank and GV (formerly Google Ventures). Still in its product development phase, Air Protein intends to set-up a R&D lab to accelerate development and testing of its product. The process uses renewable energy to convert air into amino acids that have a similar structure to animal protein.
Energy & Power
BayoTech, provider of on-site hydrogen production solutions using gas-as-a-service, received $157 million in growth equity in a round led by Newlight Partners. Other participating investors include Cottonwood Technology Fund, Sun Mountain Capital and Fortistar. The company aims to accelerate its product and infrastructure development through the new investment. Using gas-as-a-service business model reduces transportation and storage costs, and results in an overall lower carbon footprint.
Materials & Chemicals
Xampla, developer of bio-based biodegradable material as an alternative to synthetic polymers, raised $8.3 million in a seed funding round led by Horizons Ventures. The funding will allow accelerated roll-out of its product in commercial use-cases. Xampla offers alternatives to microplastics, films, coatings and single-use plastics, with the solution decomposing naturally and completely.
Resources & Environment
Plant Prefab, designer of prefabricated home-building technology for the urban in-fill market, raised $11.5 million in a Series B round disclosed through regulatory filings. The custom design and construction comes with a patented building system for lasting quality and has the smallest possible carbon footprint. By using efficient materials and systems, Plant Prefab aims to reduce the consumer’s utility bills as well.
Transportation & Logistics
Aeva, developer of perception sensing technology for autonomous vehicles, raised $200 million in growth equity from Sylebra Capital. The solution is a compact 4D LiDAR-on-chip sensor technology that provides a wide field view with no effects of external sensor interference. Aeva is to go public through a reverse merger with SPAC InterPrivate Acquisition Corp., closing in early 2021. The public listing is expected to value Aeva at $2 billion+.
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