Recent Deals – 28 June
Looking for updates on cleantech deals? Find the latest insight on cleantech investment movement here.
Agriculture & Food
Little Leaf Farms, provider of locally-grown lettuce, has closed a $300 million growth equity and debt round led by The Rise Fund and Bank of America. The funds will support the expansion of distribution networks and farm acreage. The company reportedly uses 90% less water, uses 40% more efficient lighting systems and recirculates carbon dioxide in its greenhouses to produce lettuce all-year round.
Energy & Power
Zap Energy, developer of advanced fusion control systems, raised $160 million in growth equity from Lowercarbon Capital, Breakthrough Energy Ventures, Shell Ventures, DCVC Bio, Valor Equity Partners, Addition, Energy Impact Partners and Chevron Technology Ventures. Funding follows successful testing of its fusion reactor prototype, paving the way for commercialization.
Materials & Chemicals
Mojia Biotech, a producer of bio-manufactured food ingredients and chemical materials, raised $80 million in a Series B funding round led by Temasek with participation from LYZZ Capital, Sento Investment, Bits x Bites and Asia Green Fund. The funding will be used to commercialize animal-feed additives, scale up manufacturing capacity for bio-based materials, advance the product pipeline and expand global R&D capabilities.
Resources & Environment
Blue Whale Materials, provider of lithium Ion battery recycling solutions and supplier of recycled battery components, secured $80 million in equity funding from Ara Partners. Funding to aid in building 5 EV batteries recycling plants in the United States and Europe. The company reclaims critical battery materials including cobalt, nickel and lithium.
Transportation & Logistics
Overair, developer of all-electric aerial mobility solutions, raised $145 million in Series B funding from Hanwha Systems and Hanwha Aerospace. Funds to go towards testing its all-electric prototype in 2023. The company aims to provide ride-sharing services and is also working with NASA and Urban Movement Labs to develop UAM routing and infrastructure.