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startup.",[836],{"type":608,"attrs":837},{"color":610},{"type":801,"content":839},[840],{"type":563,"attrs":841,"content":842},{"textAlign":49},[843,848,854],{"text":844,"type":568,"marks":845},"Robotics firm ",[846],{"type":608,"attrs":847},{"color":610},{"text":849,"type":568,"marks":850},"Apptronik",[851,853],{"type":608,"attrs":852},{"color":610},{"type":573},{"text":855,"type":568,"marks":856}," raised $520 million in a Series A-X extension of its existing Series A round to accelerate production of its humanoid robots.",[857],{"type":608,"attrs":858},{"color":610},{"type":801,"content":860},[861],{"type":563,"attrs":862,"content":863},{"textAlign":49},[864,870],{"text":865,"type":568,"marks":866},"Lydian Energy",[867,869],{"type":608,"attrs":868},{"color":610},{"type":573},{"text":871,"type":568,"marks":872},", a power infrastructure company, secured $689 million in financing from CIBC and MUFG to support the development of new solar power projects and one battery storage project",[873],{"type":608,"attrs":874},{"color":610},{"type":801,"content":876},[877],{"type":563,"attrs":878,"content":879},{"textAlign":49},[880,885,891],{"text":881,"type":568,"marks":882},"Independent power producer ",[883],{"type":608,"attrs":884},{"color":610},{"text":886,"type":568,"marks":887},"Aypa Power",[888,890],{"type":608,"attrs":889},{"color":610},{"type":573},{"text":892,"type":568,"marks":893}," closed a $1.5 billion warehouse credit facility, to build out its energy storage portfolio.",[894],{"type":608,"attrs":895},{"color":610},{"type":563,"attrs":897,"content":898},{"textAlign":613},[899,901,905,907,911,917],{"text":900,"type":568},"Over ",{"text":902,"type":568,"marks":903},"$23 billion worth of financial transactions were tracked in February across over 48 deals",[904],{"type":573},{"text":906,"type":568},". To view all of this funding data in Excel,",{"text":746,"type":568,"marks":908},[909],{"type":608,"attrs":910},{"color":610},{"text":582,"type":568,"marks":912},[913,915],{"type":585,"attrs":914},{"href":587,"uuid":49,"anchor":49,"target":588,"linktype":589},{"type":608,"attrs":916},{"color":610},{"text":593,"type":568,"marks":918},[919],{"type":608,"attrs":920},{"color":610},{"type":595,"attrs":922,"content":923},{"level":597,"textAlign":613},[924],{"text":925,"type":568},"M&A activity and other market news",{"type":798,"content":927},[928,964,1005,1032,1059,1091],{"type":801,"content":929},[930],{"type":563,"attrs":931,"content":932},{"textAlign":613},[933,938,944,948,953,958],{"text":934,"type":568,"marks":935},"US long-duration energy storage developer, ",[936],{"type":608,"attrs":937},{"color":610},{"text":939,"type":568,"marks":940},"ESS 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",[972],{"type":608,"attrs":973},{"color":610},{"text":975,"type":568,"marks":976},"Harbinger",[977,979],{"type":608,"attrs":978},{"color":610},{"type":573},{"text":744,"type":568,"marks":981},[982],{"type":608,"attrs":983},{"color":610},{"text":746,"type":568,"marks":985},[986,988],{"type":608,"attrs":987},{"color":610},{"type":573},{"text":990,"type":568,"marks":991},"acquired US autonomous driving company ",[992],{"type":608,"attrs":993},{"color":610},{"text":995,"type":568,"marks":996},"Phantom AI",[997,999],{"type":608,"attrs":998},{"color":610},{"type":573},{"text":1001,"type":568,"marks":1002}," in a move to bolster its autonomy capabilities for trucking and logistics applications.",[1003],{"type":608,"attrs":1004},{"color":610},{"type":801,"content":1006},[1007],{"type":563,"attrs":1008,"content":1009},{"textAlign":49},[1010,1016,1021,1027],{"text":1011,"type":568,"marks":1012},"LG Energy Solution",[1013,1015],{"type":608,"attrs":1014},{"color":610},{"type":573},{"text":1017,"type":568,"marks":1018}," agreed to acquire the 49% stake held by ",[1019],{"type":608,"attrs":1020},{"color":610},{"text":1022,"type":568,"marks":1023},"Stellantis",[1024,1026],{"type":608,"attrs":1025},{"color":610},{"type":573},{"text":1028,"type":568,"marks":1029}," in their Canadian battery joint venture, giving LG full ownership of the NextStar Energy facility as Stellantis shifts EV strategy.",[1030],{"type":608,"attrs":1031},{"color":610},{"type":801,"content":1033},[1034],{"type":563,"attrs":1035,"content":1036},{"textAlign":49},[1037,1043,1048,1054],{"text":1038,"type":568,"marks":1039},"Rio Tinto Group",[1040,1042],{"type":608,"attrs":1041},{"color":610},{"type":573},{"text":1044,"type":568,"marks":1045}," gained majority control of lithium producer ",[1046],{"type":608,"attrs":1047},{"color":610},{"text":1049,"type":568,"marks":1050},"Nemaska Lithium ",[1051,1053],{"type":608,"attrs":1052},{"color":610},{"type":573},{"text":1055,"type":568,"marks":1056},"in Québec, taking a 53.9% stake.",[1057],{"type":608,"attrs":1058},{"color":610},{"type":801,"content":1060},[1061],{"type":563,"attrs":1062,"content":1063},{"textAlign":49},[1064,1070,1075,1080,1085],{"text":1065,"type":568,"marks":1066},"LG Energy Solution ",[1067,1069],{"type":608,"attrs":1068},{"color":610},{"type":573},{"text":1071,"type":568,"marks":1072},"announced",[1073],{"type":608,"attrs":1074},{"color":610},{"text":746,"type":568,"marks":1076},[1077,1079],{"type":608,"attrs":1078},{"color":610},{"type":573},{"text":1081,"type":568,"marks":1082},"its intention to sell its 7.5% stake in Australian lithium producer ",[1083],{"type":608,"attrs":1084},{"color":610},{"text":1086,"type":568,"marks":1087},"Liontown.",[1088,1090],{"type":608,"attrs":1089},{"color":610},{"type":573},{"type":801,"content":1092},[1093],{"type":563,"attrs":1094,"content":1095},{"textAlign":49},[1096,1101,1107,1112],{"text":1097,"type":568,"marks":1098},"Indianbattery materials firm ",[1099],{"type":608,"attrs":1100},{"color":610},{"text":1102,"type":568,"marks":1103},"Altmin",[1104,1106],{"type":608,"attrs":1105},{"color":610},{"type":573},{"text":1108,"type":568,"marks":1109},"invested $40 million for a 33% stake in Brazil’s ",[1110],{"type":608,"attrs":1111},{"color":610},{"text":1113,"type":568,"marks":1114},"Companhia Brasileira de Lítio.",[1115,1117],{"type":608,"attrs":1116},{"color":610},{"type":573},{"type":595,"attrs":1119,"content":1120},{"level":597,"textAlign":49},[1121],{"text":1122,"type":568,"marks":1123},"2025 performance of energy transition IPO market",[1124],{"type":608,"attrs":1125},{"color":610},{"type":621,"attrs":1127},{"id":645,"body":1128},[1129],{"id":1130,"_uid":1131,"type":628,"component":629,"fixed_height":630,"use_fixed_height":50,"fixed_height_mobile":630,"fixed_height_tablet":630},"27481995","i-aeafcbd9-a9f7-48b5-8547-156aad074582",{"type":595,"attrs":1133,"content":1134},{"level":597,"textAlign":613},[1135],{"text":1136,"type":568,"marks":1137},"Market listings and updates",[1138],{"type":608,"attrs":1139},{"color":610},{"type":563,"attrs":1141,"content":1142},{"textAlign":613},[1143,1148,1154,1159,1165,1170,1176,1181,1187],{"text":1144,"type":568,"marks":1145},"In February, we tracked four IPOs across energy transition and critical minerals markets, including US solar and energy storage company ",[1146],{"type":608,"attrs":1147},{"color":610},{"text":1149,"type":568,"marks":1150},"SOLV ",[1151,1153],{"type":608,"attrs":1152},{"color":610},{"type":573},{"text":1155,"type":568,"marks":1156},"Energy, which listed on the Nasdaq. ",[1157],{"type":608,"attrs":1158},{"color":610},{"text":1160,"type":568,"marks":1161},"CETC Blue Sky ",[1162,1164],{"type":608,"attrs":1163},{"color":610},{"type":573},{"text":1166,"type":568,"marks":1167},"debuted on the Shanghai Stock Exchange, ",[1168],{"type":608,"attrs":1169},{"color":610},{"text":1171,"type":568,"marks":1172},"Wuxi Lead ",[1173,1175],{"type":608,"attrs":1174},{"color":610},{"type":573},{"text":1177,"type":568,"marks":1178},"on the Hong Kong Stock Exchange, and ",[1179],{"type":608,"attrs":1180},{"color":610},{"text":1182,"type":568,"marks":1183},"Barkly Rare Earths ",[1184,1186],{"type":608,"attrs":1185},{"color":610},{"type":573},{"text":1188,"type":568,"marks":1189},"listed on the Australian Securities Exchange.",[1190],{"type":608,"attrs":1191},{"color":610},{"type":595,"attrs":1193,"content":1194},{"level":597,"textAlign":613},[1195,1201,1206],{"type":1196,"attrs":1197},"image",{"id":1198,"alt":630,"src":1199,"title":630,"source":630,"copyright":630,"meta_data":1200},150989335639505,"https://a.storyblok.com/f/287943243085208/921x898/79119c0004/feb-ipos.png",{},{"type":1196,"attrs":1202},{"id":1203,"alt":630,"src":1204,"title":630,"source":630,"copyright":630,"meta_data":1205},150989335672274,"https://a.storyblok.com/f/287943243085208/920x305/2da8655a6f/feb-ipos-2.png",{},{"text":1207,"type":568},"Announcements",{"type":563,"attrs":1209,"content":1210},{"textAlign":613},[1211],{"text":1212,"type":568,"marks":1213},"Throughout February, several energy transition and critical mineral companies progressed or announced plans to list across US and Asian exchanges.",[1214],{"type":608,"attrs":1215},{"color":610},{"type":798,"content":1217},[1218,1234,1255,1271],{"type":801,"content":1219},[1220],{"type":563,"attrs":1221,"content":1222},{"textAlign":613},[1223,1229],{"text":1224,"type":568,"marks":1225},"Ionic Rare Earths",[1226,1228],{"type":608,"attrs":1227},{"color":610},{"type":573},{"text":1230,"type":568,"marks":1231},", a Utah-focused rare earths miner, is targeting an initial public offering in the US in 2027.",[1232],{"type":608,"attrs":1233},{"color":610},{"type":801,"content":1235},[1236],{"type":563,"attrs":1237,"content":1238},{"textAlign":49},[1239,1244,1250],{"text":1240,"type":568,"marks":1241},"India’s ",[1242],{"type":608,"attrs":1243},{"color":610},{"text":1245,"type":568,"marks":1246},"CleanMax Enviro Energy Solutions’ ",[1247,1249],{"type":608,"attrs":1248},{"color":610},{"type":573},{"text":1251,"type":568,"marks":1252},"IPO opened for public subscription on 23 February and closed on 25 February ahead of its listing on the BSE and NSE on 2 March.",[1253],{"type":608,"attrs":1254},{"color":610},{"type":801,"content":1256},[1257],{"type":563,"attrs":1258,"content":1259},{"textAlign":49},[1260,1266],{"text":1261,"type":568,"marks":1262},"Hero Future Energies",[1263,1265],{"type":608,"attrs":1264},{"color":610},{"type":573},{"text":1267,"type":568,"marks":1268},", a KKR-backed renewable energy developer, is preparing to file its draft IPO papers with the Securities and Exchange Board of India (SEBI).",[1269],{"type":608,"attrs":1270},{"color":610},{"type":801,"content":1272},[1273],{"type":563,"attrs":1274,"content":1275},{"textAlign":49},[1276,1282,1287,1292],{"text":1277,"type":568,"marks":1278},"Guardian Metal Resources",[1279,1281],{"type":608,"attrs":1280},{"color":610},{"type":573},{"text":1283,"type":568,"marks":1284},", a Tungsten exploration company based in the US,",[1285],{"type":608,"attrs":1286},{"color":610},{"text":746,"type":568,"marks":1288},[1289,1291],{"type":608,"attrs":1290},{"color":610},{"type":573},{"text":1293,"type":568,"marks":1294},"has filed on the Nasdaq for $50 million IPO.",[1295],{"type":608,"attrs":1296},{"color":610},"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.\n","briefing",[1300,1302,1305,1308,1310,1312,1314,1317,1320,1323,1326,1329,1332,1335,1338,1340,1343,1345,1348,1350,1353,1355,1358,1361,1364],{"slug":1301,"name":263},"anode",{"slug":1303,"name":1304},"batteries","Batteries",{"slug":1306,"name":1307},"battery-technology","Battery Technology",{"slug":1309,"name":380},"black-mass",{"slug":1311,"name":299},"cathode",{"slug":1313,"name":115},"cobalt",{"slug":1315,"name":1316},"copper","Copper",{"slug":1318,"name":1319},"critical-minerals","Critical Minerals",{"slug":1321,"name":1322},"ess","ESS",{"slug":1324,"name":1325},"ev","EV",{"slug":1327,"name":1328},"fluorspar","Fluorspar",{"slug":1330,"name":1331},"geopolitics","Geopolitics",{"slug":1333,"name":1334},"gigafactories","Battery & Gigafactory",{"slug":1336,"name":1337},"graphite","Graphite",{"slug":1339,"name":8},"lithium",{"slug":1341,"name":1342},"manganese","Manganese",{"slug":1344,"name":189},"natural-graphite",{"slug":1346,"name":1347},"new-energy","New Energy",{"slug":1349,"name":150},"nickel",{"slug":1351,"name":1352},"phosphate","Phosphate",{"slug":1354,"name":420},"rare-earths",{"slug":1356,"name":1357},"recycling","Recycling",{"slug":1359,"name":1360},"silicon-anode","Silicon Anode",{"slug":1362,"name":1363},"sustainability","Sustainability",{"slug":1365,"name":1366},"synthetic-graphite","Synthetic Graphite","private","monthly","Mar 03, 2026","3rd March 2026",{"slug":1372,"title":1373,"cardImage":1374,"description":1375,"frequency":1376},"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",[],[],1792765810233]