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Energy & Sustainability M&A Activity — June 2021
Tuesday, June 22, 2021
  • May 7, 2021: ESS Tech, Inc., a manufacturer of non-toxic, long-duration iron flow batteries for commercial and utility-scale energy storage, announced a business combination with ACON S2 Acquisition Corp., a special purpose acquisition company. After completion of the transaction, ESS will be publicly listed and will be valued at a $1.072 billion pro forma enterprise value.

  • May 7, 2021: Birdseye Renewable Energy, a developer of utility scale solar and storage facilities in the southeastern United States, was acquired by Dominion Energy for $38.05 million. Dominion Energy, a utility provider for 16 states, will use the acquisition to meet its goals to expand the use of renewable energy throughout its service region.

  • May 10, 2021: TerraScale, a developer of renewable-energy powered data centers, and iQ International, a battery manufacturer, agreed to a merger. The combined company will focus on enhancing sustainability and security in data center design.

  • May 11, 2021: NR3, LLC, which uses zero-emissions processes to convert animal and agriculture waste into renewable biogas, was acquired by Montauk Renewables, Inc. Montauk seeks to deploy NR3’s technologies to harness energy from the U.S. swine industry.

  • May 19, 2021: SparkCognition acquired Ensemble Energy, developer of a predictive analytics and asset management platform for the renewable energy industry, for an undisclosed amount. SparkCognition provides artificial intelligence solutions for various industries including defense, manufacturing, and energy industries.

  • May 26, 2021: Dometic, which provides mobile living products for use in RVs, boats, and campers, purchased Zamp Solar, a manufacturer of portable, off-grid solar modules, for an undisclosed amount.

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