iRecent M&A Activity:
February 26, 2024: Empire Diversified Energy Inc, a diversified energy and logistics company that developed a wide range of green energy products and solutions to address industry problems, such as its LNG and Petrochemical Storage and Petrochemical Loading Facilities Scrap Iron and Mineral Sales units, was acquired by Vivakor for $67.2 million. The acquisition accelerates Vivakor’s vision to build a state-of-the-art, clean energy and remediation technologies company and creates synergies and opportunities, including infrastructure for expansion and accelerated revenue growth. Read here.
March 5, 2024: Elpis Squared, which developed utility grid analytics and operational software intended to optimize software infrastructure in order to support clean energy and the modernization of the grid, was acquired by Itron for an undisclosed amount. The acquisition helps to strengthen and complement Itron’s solutions, adding expertise in grid planning, operations, and engineering to Itron’s Grid Edge Intelligence portfolio. Read here.
March 7, 2024: ConnectGen, a provider of renewable energy and related services intended to reduce carbon pollution and provide long-term, cost-effective clean energy through the development, building, operation, and financing of utility-scale clean energy projects, was acquired by Repsol for $768 million. This transaction is a new milestone in Repsol’s strategy to strengthen its position as a global player in the renewable energy ecosystem, increasing its international footprint and contributing to its goal of 20,000 MW of installed renewable generation capacity by 2030. Read here.
