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Good Morning. This is the Sunya Scoop. The newsletter that takes energy transition news and turns it into an easy-to-read email for you.
Here’s what we have for you today:
Blackstone makes investment in Australian Symphony Infrastructure Partners
Again raises $43mm Series A from Google Ventures and HV Capital
Microsoft’s Climate Innovation Fund invests in Cyclic Materials
NGP and Sandbrook Capital back Cloverleaf Infrastructure with $300mm
Intersect Power raises $837mm in project financing for battery storage in TX
Bluestar Energy Capital launches Noveria for European battery storage
Macquarie to acquire interests in offshore wind farms from BlackRock
The almost headlines
In case you missed
Quote of the week
Chart of the week
Blackstone has invested in Symphony Infrastructure Partners, Australia’s leading energy transition infrastructure services platform.
Symphony, founded in 2022 by Steve Butler, focuses on accelerating Australia’s shift to renewable energy through specialized services.
Blackstone's investment includes funding for Symphony to finalize pending acquisitions and support future growth initiatives.
Daniel Kearns, Managing Director at Blackstone Tactical Opportunities, emphasized Blackstone's strategic focus on investing in companies that advance renewable energy solutions globally and in Australia.
Again, a Copenhagen-based climate tech startup, has raised $43 million in Series A funding from Google Ventures and HV Capital.
The funding will support Again's research into converting carbon dioxide emissions from fossil fuel-intensive industries into valuable products like plastics and paints.
Again plans to launch its first operations by late 2025 or early 2026, focusing on scaling its bioreactor technology.
The startup's technology captures CO2 emissions and uses bacteria in bioreactors to convert them into useful products, reducing greenhouse gas emissions from refining processes.
The company aims to address scalability challenges in climate tech by efficiently capturing and converting CO2 emissions into valuable materials around the clock.
Microsoft's Climate Innovation Fund has made a strategic equity investment in Cyclic Materials, an advanced metals recycling company focused on creating a circular supply chain for rare earth elements and critical metals.
Cyclic Materials has developed the CC360TM technology to recover rare earths from end-of-life hard drives, a process typically overlooked in current recycling practices.
Cyclic Materials, established in 2021, aims to transform end-of-life products into valuable raw materials using environmentally friendly processes, reducing carbon footprint and water usage compared to traditional mining.
The company has opened its Kingston-based "Hub100" plant utilizing proprietary hydrometallurgical technology, REEPure, to meet the growing demand for domestic rare earth oxide sources in North America.
3M has strategically invested in Ohmium International, a leader in electrolyzer systems for green hydrogen production.
The investment reflects 3M's commitment to advancing climate technologies and exploring decarbonization opportunities within its operations.
Ohmium is recognized for its efficient Proton Exchange Membrane (PEM) electrolyzers, crucial for producing fossil-free green hydrogen to decarbonize industries like steel and fertilizer manufacturing.
Ohmium's technology, known for its proprietary power electronics and modular design, aims to achieve cost-competitive and high-output green hydrogen production.
The partnership will focus on innovating catalysts and electrolyzer materials to enhance efficiency and scalability.
Cloverleaf Infrastructure raises over $300 million from NGP and Sandbrook Capital for developing large-scale clean-powered data center sites across the US.
Led by CEO David Berry, formerly of ConnectGen and Clean Line Energy Partners, Cloverleaf aims to modernize the US grid with low-carbon electricity solutions.
The company collaborates with US utilities and data center operators to integrate clean generation, storage, and grid interconnection technologies.
Brian Janous, CCO and ex-Microsoft VP of Energy, highlights the tech sector's commitment to low-emission growth and leveraging existing clean energy solutions.
Cloverleaf's management team includes CTO Jonathan Abebe and VP Nur Bernhardt, bringing expertise from Pattern Energy, Clean Line Energy, and Microsoft.
Blackstone has entered into a definitive agreement to acquire Trystar, a leading provider of electrical equipment for backup power solutions.
Trystar specializes in designing and manufacturing critical electrical power solutions for data centers, industrial, commercial, healthcare, and utility sectors.
The acquisition aims to leverage Blackstone’s global scale and expertise in energy transition to enhance Trystar’s market position and drive growth.
Blackstone Energy Transition Partners views Trystar’s power management solutions as well-positioned to benefit from increasing electricity demand and the importance of power reliability.
Intersect Power, LLC secures $837 million in project financing for three Battery Energy Storage Systems (BESS) in Texas.
The financing includes portfolio-level construction debt, tax equity, and term debt with leading partners.
Three BESS projects—Lumina I, Lumina II, and Radian—will collectively provide 1 GWh of battery storage capacity and integrate Tesla's Megapack technology.
Projects are expected to be operational by 2024, enhancing grid reliability and supporting the transition to a low-carbon economy.
Morgan Stanley provides tax equity, while HPS Investment Partners and Deutsche Bank contribute construction debt and term debt investments respectively.
Intersect Power aims to triple its renewable energy portfolio over the next three years, emphasizing stability and performance amidst market volatility.
Bluestar Energy Capital launches Noveria Energy for European battery storage projects
Noveria Energy focused on German market with 2GWh project pipeline
Experienced team led by Ben Brooks in Germany
Noveria Energy aims to be a leading developer of large-scale energy storage projects in Europe
Bluestar Energy Capital actively scaling global presence with over 10 GW of projects
Macquarie Asset Management plans to acquire an additional 39.25% stake in the Lynn and Inner Dowsing offshore wind farms from funds managed by BlackRock.
These wind farms, operational since 2009 off the coast of Lincolnshire, collectively generate about 194 MW, enough to power over 160,000 UK homes annually.
The acquisition will increase Macquarie Asset Management’s ownership to 100%, facilitated through its GIG Renewable Energy Fund 2 and a Private Wealth Fund.
Macquarie Group has been a significant investor in the UK’s offshore wind sector for over a decade, supporting approximately half of the country’s operational offshore wind capacity through various projects and infrastructure.
Sempra Infrastructure Announces EPC Contract with Bechtel for Port Arthur LNG Phase 2
Bloom Energy and CoreWeave partner on AI data center power solutions
NovoNutrients raises $18 mm Series A led by Woodside and CM Venture Capital
Sunya Stories podcast - Capturing Carbon with Carbonvert CEO Alex Tiller
You can subscribe via Spotify or Apple Podcasts as well.
Tuesday’s edition - We are so back (late-stage venture at least)
Nuclear fusion startups by location
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
