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As of 9 September, its share price was 76% of what it was at its IPO.",[765],{"type":740,"attrs":766},{"color":742},{"type":641,"attrs":768},{"id":643,"body":769},[770],{"id":771,"_uid":772,"type":648,"component":649,"fixed_height":650,"use_fixed_height":50,"fixed_height_mobile":650,"fixed_height_tablet":650},"30201841","i-af1cf625-2ded-4b63-873f-e08786b8f0a8",{"type":596,"attrs":774,"content":775},{"level":598,"textAlign":49},[776],{"text":777,"type":569},"Funding News",{"type":641,"attrs":779},{"id":643,"body":780},[781],{"id":782,"_uid":783,"type":648,"component":649,"fixed_height":650,"use_fixed_height":50,"fixed_height_mobile":650,"fixed_height_tablet":650},"30201844","i-2a669b00-bcfa-46a9-b1f8-3d839ef2913d",{"type":785,"content":786},"bullet_list",[787,809,839,855],{"type":788,"content":789},"list_item",[790],{"type":564,"attrs":791,"content":792},{"textAlign":49},[793,798,804],{"text":794,"type":569,"marks":795},"Clean energy infrastructure investor ",[796],{"type":740,"attrs":797},{"color":742},{"text":799,"type":569,"marks":800},"Copenhagen Infrastructure Partners",[801,803],{"type":740,"attrs":802},{"color":742},{"type":574},{"text":805,"type":569,"marks":806}," closed its Growth Markets Fund II at $3 billion, with funding allocated for Chile's largest standalone battery project, Mexico's first large-scale solar-plus-battery storage projects and more.",[807],{"type":740,"attrs":808},{"color":742},{"type":788,"content":810},[811],{"type":564,"attrs":812,"content":813},{"textAlign":49},[814,820,825,834],{"text":815,"type":569,"marks":816},"Sila",[817,819],{"type":740,"attrs":818},{"color":742},{"type":574},{"text":821,"type":569,"marks":822},", the US silicon anode developer, announced it would receive a ",[823],{"type":740,"attrs":824},{"color":742},{"text":826,"type":569,"marks":827},"$1.4 billion conditional loan from the US government",[828,832],{"type":586,"attrs":829},{"href":830,"uuid":831,"anchor":49,"target":589,"linktype":614},"/article/us-invests-2-billion-in-critical-mineral-and-material-supply-chains","84c4211a-606e-40f3-9abc-1cb4604a2c31",{"type":740,"attrs":833},{"color":742},{"text":835,"type":569,"marks":836}," as the latter looks to secure battery supply chains.",[837],{"type":740,"attrs":838},{"color":742},{"type":788,"content":840},[841],{"type":564,"attrs":842,"content":843},{"textAlign":49},[844,850],{"text":845,"type":569,"marks":846},"Base Power",[847,849],{"type":740,"attrs":848},{"color":742},{"type":574},{"text":851,"type":569,"marks":852},", which provides home battery systems capable of supporting the grid, raised $1 billion in new investment in a Series D funding round.",[853],{"type":740,"attrs":854},{"color":742},{"type":788,"content":856},[857],{"type":564,"attrs":858,"content":859},{"textAlign":49},[860,865,871],{"text":861,"type":569,"marks":862},"Nuclear plant developer ",[863],{"type":740,"attrs":864},{"color":742},{"text":866,"type":569,"marks":867},"Valar Atomics",[868,870],{"type":740,"attrs":869},{"color":742},{"type":574},{"text":872,"type":569,"marks":873}," also raised $1 billion in a Series B round combined with a credit facility, as it looks to advance its rollout of standardised, mass-manufactured power plants.",[874],{"type":740,"attrs":875},{"color":742},{"type":564,"attrs":877,"content":878},{"textAlign":734},[879,885,892],{"text":880,"type":569,"marks":881},"Over $25 billion worth of financial transactions were tracked in August across over 80 deals. To view all of this funding data in Excel, ",[882,884],{"type":740,"attrs":883},{"color":742},{"type":574},{"text":583,"type":569,"marks":886},[887,889,891],{"type":586,"attrs":888},{"href":588,"uuid":49,"anchor":49,"target":589,"linktype":590},{"type":740,"attrs":890},{"color":742},{"type":574},{"text":594,"type":569,"marks":893},[894,896],{"type":740,"attrs":895},{"color":742},{"type":574},{"type":596,"attrs":898,"content":899},{"level":598,"textAlign":734},[900],{"text":901,"type":569},"M&A activity and other market news",{"type":785,"content":903},[904,948,1000,1017],{"type":788,"content":905},[906],{"type":564,"attrs":907,"content":908},{"textAlign":734},[909,915,920,926,931,937,942],{"text":910,"type":569,"marks":911},"Shell ",[912,914],{"type":740,"attrs":913},{"color":742},{"type":574},{"text":916,"type":569,"marks":917},"sold ",[918],{"type":740,"attrs":919},{"color":742},{"text":921,"type":569,"marks":922},"Sonnen",[923,925],{"type":740,"attrs":924},{"color":742},{"type":574},{"text":927,"type":569,"marks":928},", a residential battery storage company, to Maltese family office ",[929],{"type":740,"attrs":930},{"color":742},{"text":932,"type":569,"marks":933},"TIVEN ",[934,936],{"type":740,"attrs":935},{"color":742},{"type":574},{"text":938,"type":569,"marks":939},"towards the end of the month. It also sold its entire onshore renewables business to ",[940],{"type":740,"attrs":941},{"color":742},{"text":943,"type":569,"marks":944},"TotalEnergies",[945,947],{"type":740,"attrs":946},{"color":742},{"type":574},{"type":788,"content":949},[950],{"type":564,"attrs":951,"content":952},{"textAlign":734},[953,958,964,969,975,980,986,991],{"text":954,"type":569,"marks":955},"Earlier in the month, ",[956],{"type":740,"attrs":957},{"color":742},{"text":959,"type":569,"marks":960},"GM ",[961,963],{"type":740,"attrs":962},{"color":742},{"type":574},{"text":965,"type":569,"marks":966},"announced it was ceding control of ",[967],{"type":740,"attrs":968},{"color":742},{"text":970,"type":569,"marks":971},"SynergyCells",[972,974],{"type":740,"attrs":973},{"color":742},{"type":574},{"text":976,"type":569,"marks":977},", its US-based battery manufacturing joint venture with ",[978],{"type":740,"attrs":979},{"color":742},{"text":981,"type":569,"marks":982},"Samsung SDI",[983,985],{"type":740,"attrs":984},{"color":742},{"type":574},{"text":987,"type":569,"marks":988},", to the Korean company in ",[989],{"type":740,"attrs":990},{"color":742},{"text":992,"type":569,"marks":993},"a deal covered by Benchmark Intelligence",[994,998],{"type":586,"attrs":995},{"href":996,"uuid":997,"anchor":49,"target":589,"linktype":614},"/article/us-automakers-dial-back-north-american-battery-manufacturing-investments-ceding-control-to-south-korean-partners","611420ac-67d7-456e-9c49-b54a1fa075f1",{"type":740,"attrs":999},{"color":742},{"type":788,"content":1001},[1002],{"type":564,"attrs":1003,"content":1004},{"textAlign":734},[1005,1009,1011,1015],{"text":1006,"type":569,"marks":1007},"Archer Aviation ",[1008],{"type":574},{"text":1010,"type":569},"purchased former rival ",{"text":1012,"type":569,"marks":1013},"Wisk Aero",[1014],{"type":574},{"text":1016,"type":569}," five years on from a court case between the two",{"type":788,"content":1018},[1019],{"type":564,"attrs":1020,"content":1021},{"textAlign":734},[1022,1026,1028,1032],{"text":1023,"type":569,"marks":1024},"Lyten",[1025],{"type":574},{"text":1027,"type":569},", a US battery manufacturer, is to buy Norwegian battery developer ",{"text":1029,"type":569,"marks":1030},"Morrow",[1031],{"type":574},{"text":1033,"type":569},", which filed for bankruptcy in May",{"type":596,"attrs":1035,"content":1036},{"level":598,"textAlign":49},[1037],{"text":1038,"type":569,"marks":1039},"2025/26 performance of energy transition IPO market",[1040],{"type":740,"attrs":1041},{"color":742},{"type":641,"attrs":1043},{"id":665,"body":1044},[1045],{"id":1046,"_uid":1047,"type":648,"component":649,"fixed_height":650,"use_fixed_height":50,"fixed_height_mobile":650,"fixed_height_tablet":650},"29998799","i-aeafcbd9-a9f7-48b5-8547-156aad074582",{"type":596,"attrs":1049,"content":1050},{"level":598,"textAlign":734},[1051],{"text":1052,"type":569,"marks":1053},"Market listings and updates",[1054],{"type":740,"attrs":1055},{"color":742},{"type":564,"attrs":1057,"content":1058},{"textAlign":734},[1059,1064,1070,1075,1081,1086,1092,1097,1103],{"text":1060,"type":569,"marks":1061},"August's most significant IPO was that of Unitree Robotics in Shanghai, which raised more than $900 million before prompting concerns of a bubble and consideration of new rules on offerings for humanoid firms in China. As well as ",[1062],{"type":740,"attrs":1063},{"color":742},{"text":1065,"type":569,"marks":1066},"Juniper Green",[1067,1069],{"type":740,"attrs":1068},{"color":742},{"type":574},{"text":1071,"type":569,"marks":1072},"'s IPO in India, the month also featured several offerings for mineral exploration firms: ",[1073],{"type":740,"attrs":1074},{"color":742},{"text":1076,"type":569,"marks":1077},"WhiteRock Lithium",[1078,1080],{"type":740,"attrs":1079},{"color":742},{"type":574},{"text":1082,"type":569,"marks":1083},", ",[1084],{"type":740,"attrs":1085},{"color":742},{"text":1087,"type":569,"marks":1088},"Powerhaus Uranium ",[1089,1091],{"type":740,"attrs":1090},{"color":742},{"type":574},{"text":1093,"type":569,"marks":1094},"and ",[1095],{"type":740,"attrs":1096},{"color":742},{"text":1098,"type":569,"marks":1099},"Almasar Minerals",[1100,1102],{"type":740,"attrs":1101},{"color":742},{"type":574},{"text":594,"type":569,"marks":1104},[1105],{"type":740,"attrs":1106},{"color":742},{"type":596,"attrs":1108,"content":1109},{"level":598,"textAlign":734},[1110,1116,1121,1127],{"type":1111,"attrs":1112},"image",{"id":1113,"alt":650,"src":1114,"title":650,"source":650,"copyright":650,"meta_data":1115},218503167651340,"https://a.storyblok.com/f/287943243085208/448x496/a49f5c4501/screenshot-2026-09-10-110742.png",{},{"type":1111,"attrs":1117},{"id":1118,"alt":650,"src":1119,"title":650,"source":650,"copyright":650,"meta_data":1120},218503497289249,"https://a.storyblok.com/f/287943243085208/435x498/ea366078d8/screenshot-2026-09-10-111236.png",{},{"type":1111,"attrs":1122},{"id":1123,"alt":650,"src":1124,"title":650,"source":650,"copyright":650,"meta_data":1125},218503497207328,"https://a.storyblok.com/f/287943243085208/438x162/c94ee21c9d/screenshot-2026-09-10-111246.png",{"size":1126},"438x162",{"text":1128,"type":569},"Announcements",{"type":564,"attrs":1130,"content":1131},{"textAlign":734},[1132],{"text":1133,"type":569,"marks":1134},"Throughout August, several energy transition and critical mineral companies progressed or announced plans to list across exchanges:",[1135],{"type":740,"attrs":1136},{"color":742},{"type":785,"content":1138},[1139,1150,1161,1178,1189],{"type":788,"content":1140},[1141],{"type":564,"attrs":1142,"content":1143},{"textAlign":734},[1144,1148],{"text":1145,"type":569,"marks":1146},"CoVolt, ",[1147],{"type":574},{"text":1149,"type":569},"an energy company delivering solar energy and BESS infrastructure, filed to list on the Nasdaq.",{"type":788,"content":1151},[1152],{"type":564,"attrs":1153,"content":1154},{"textAlign":734},[1155,1159],{"text":1156,"type":569,"marks":1157},"Holtec Nuclear",[1158],{"type":574},{"text":1160,"type":569},", a designer and manufacturer of parts used in nuclear reactors, set out plans to list on the Nasdaq in an offering that it hopes will raise over $10 billion",{"type":788,"content":1162},[1163],{"type":564,"attrs":1164,"content":1165},{"textAlign":734},[1166,1170,1172,1176],{"text":1167,"type":569,"marks":1168},"Vale Base Metals",[1169],{"type":574},{"text":1171,"type":569},", a ",{"text":1173,"type":569,"marks":1174},"Vale ",[1175],{"type":574},{"text":1177,"type":569},"subsidiary, is reportedly considering dropping IPO plans as it faces political opposition in Brazil",{"type":788,"content":1179},[1180],{"type":564,"attrs":1181,"content":1182},{"textAlign":734},[1183,1187],{"text":1184,"type":569,"marks":1185},"Aulton New Energy, ",[1186],{"type":574},{"text":1188,"type":569},"a battery swapping services provider, resubmitted a listing application for an IPO in Hong Kong after a 2025 application lapsed",{"type":788,"content":1190},[1191],{"type":564,"attrs":1192,"content":1193},{"textAlign":734},[1194,1196,1200],{"text":1195,"type":569},"Chinese battery storage company ",{"text":1197,"type":569,"marks":1198},"LiPower New Energy ",[1199],{"type":574},{"text":1201,"type":569},"has filed for a Nasdaq IPO","Welcome to Energy Transition Capital Monthly, part of your Benchmark Intelligence subscription. This report tracks companies related to the energy transition going public through IPOs or mergers via SPACs, as well as company share prices and broader industry trends through indices and funding data. It provides a comprehensive overview of the past month’s listings and announcements.","briefing",[1205,1207,1210,1213,1215,1217,1219,1222,1225,1228,1231,1234,1237,1240,1243,1245,1248,1250,1253,1255,1258,1260,1263,1266,1269],{"slug":1206,"name":265},"anode",{"slug":1208,"name":1209},"batteries","Batteries",{"slug":1211,"name":1212},"battery-technology","Battery Technology",{"slug":1214,"name":378},"black-mass",{"slug":1216,"name":300},"cathode",{"slug":1218,"name":115},"cobalt",{"slug":1220,"name":1221},"copper","Copper",{"slug":1223,"name":1224},"critical-minerals","Critical Minerals",{"slug":1226,"name":1227},"ess","ESS",{"slug":1229,"name":1230},"ev","EV",{"slug":1232,"name":1233},"fluorspar","Fluorspar",{"slug":1235,"name":1236},"geopolitics","Geopolitics",{"slug":1238,"name":1239},"gigafactories","Battery & Gigafactory",{"slug":1241,"name":1242},"graphite","Graphite",{"slug":1244,"name":8},"lithium",{"slug":1246,"name":1247},"manganese","Manganese",{"slug":1249,"name":191},"natural-graphite",{"slug":1251,"name":1252},"new-energy","New Energy",{"slug":1254,"name":152},"nickel",{"slug":1256,"name":1257},"phosphate","Phosphate",{"slug":1259,"name":418},"rare-earths",{"slug":1261,"name":1262},"recycling","Recycling",{"slug":1264,"name":1265},"silicon-anode","Silicon Anode",{"slug":1267,"name":1268},"sustainability","Sustainability",{"slug":1270,"name":1271},"synthetic-graphite","Synthetic Graphite","private","monthly","Sep 10, 2026","10th September 2026",{"slug":1277,"title":1278,"cardImage":1279,"description":1280,"frequency":1281},"energy-transition-capitals","Energy Transition Capitals","https://a.storyblok.com/f/287943243085208/x/76ef6752b3/energy-capitals-hero.avif","This Briefing tracks energy-transition IPOs, SPAC mergers, share prices, industry indices, and funding trends.","Monthly",[],[],1789082813162]