Funding and M&A Roundup: Hemlock Semiconductor Acquires DuPont’s Solar Material Unit

Ubicquia, a smart grid solutions provider, completed $30 million Series C funding

September 14, 2020


From: Mercom Capital Group

Here is a roundup of corporate funding and M&A deals from last week covering the global renewable energy industry:

Hemlock Semiconductor Operations (HSC) has acquired a DuPont business that makes trichlorosilane (TCS), the primary raw material used in producing the ultra-pure polysilicon HSC supplies to the semiconductor and solar industries. By acquiring the TCS operations in Midland, Michigan, HSC will be better able to control supply and substantially reduce costs. The Midland project is about 20 miles north of HSC’s campus just west of Saginaw, Michigan.

Alpiq Digital has divested Flexitricity as it exits the UK demand response market. Alpiq has signed a share sales agreement with Reserve Power Holdings, which in turn is owned by investment manager Quinbrook, for the sale of Flexitricity is a CHF18 million (~$20 million) transaction.

Ubicquia, a smart grid solutions provider, has announced it has completed its $30 million Series C funding round with participation from Fuel Venture Capital and existing investors. The Series C growth investment is focused on accelerating Ubicquia’s small cell and smart grid product offerings, along with increasing its working capital to address expanded manufacturing and order volumes.

Myst AI, a data analysis platform provider for electricity demand and supply forecasting, secured a $6 million Series A financing round to continue developing an artificial intelligence platform for time series forecasting in electricity. Valo Ventures led the investment with participation from Gradient Ventures, which led Myst AI’s $2 million seed round in 2018, Pieter Verhoeven, co-founder, and CEO, said. With the new funding, the company has raised a total of $8 million to date.

AMMP Technologies, the operations platform for decentralized renewable energy systems, has raised €1.15 million (~$1.35 million) in venture funding. AMMP supports the rapidly accelerating global shift from a centralized generation based on fossil fuels towards decentralized renewable energy.

Georgia-headquartered solar construction company Sunshine Solar has announced that its affiliate Bravo will acquire Terra Posts PV, a utility-scale solar foundation installation company. Terra Posts PV owns and operates a fleet of 10 GAYK pile-driving machines and accompanying equipment and vehicles.

Canadian Solar, a vertically integrated solar manufacturer, announced the proposed offering, subject to market and other conditions, of $200 million in aggregate principal amount of senior convertible notes due 2025 that is exempt from the registration requirements of the Securities Act of 1933, as amended. The company intends to grant the initial purchasers in the proposed offering a 30-day option to purchase up to an additional $30 million aggregate principal amount of the notes. The company plans to use the net proceeds from the proposed offering for general corporate purposes, which may include the expansion of manufacturing capacity, development of solar power projects, and working capital.

For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.

Read last week’s funding roundup.

Image credit: Renovalia Energy Group


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