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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.",{"type":554,"attrs":568,"content":569},{"textAlign":49},[570,572,583],{"text":571,"type":559},"To access this report’s accompanying funding and IPO database, ",{"text":573,"type":559,"marks":574},"click here",[575,581],{"type":576,"attrs":577},"link",{"href":578,"uuid":49,"anchor":49,"target":579,"linktype":580},"https://a.storyblok.com/f/287943243085208/x/0cf0661ffd/benchmark-etc-funding-data-july-2026.xlsx","_blank","asset",{"type":582},"underline",{"text":584,"type":559},".",{"type":586,"attrs":587,"content":589},"heading",{"level":588,"textAlign":49},2,[590],{"text":591,"type":559},"Highlights",{"type":554,"attrs":593,"content":594},{"textAlign":49},[595,597,604,606,613,623,628,636,641,649],{"text":596,"type":559},"Over $23 billion billion in new funding was tracked this month, with over half ($13bn+) for new renewables-plus-energy storage projects, including a major deal for Masdar in the Middle East. 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As of 17 August, its share price was 29% of what it was at its IPO.",[758],{"type":610,"attrs":759},{"color":612},{"type":663,"attrs":761},{"id":665,"body":762},[763],{"id":764,"_uid":765,"type":670,"component":671,"fixed_height":672,"use_fixed_height":50,"fixed_height_mobile":672,"fixed_height_tablet":672},"29987169","i-af1cf625-2ded-4b63-873f-e08786b8f0a8",{"type":586,"attrs":767,"content":768},{"level":588,"textAlign":49},[769],{"text":770,"type":559},"Funding News",{"type":663,"attrs":772},{"id":665,"body":773},[774],{"id":775,"_uid":776,"type":670,"component":671,"fixed_height":672,"use_fixed_height":50,"fixed_height_mobile":672,"fixed_height_tablet":672},"29987171","i-2a669b00-bcfa-46a9-b1f8-3d839ef2913d",{"type":778,"content":779},"bullet_list",[780,802,823,836],{"type":781,"content":782},"list_item",[783],{"type":554,"attrs":784,"content":785},{"textAlign":49},[786,791,797],{"text":787,"type":559,"marks":788},"Clean energy developer ",[789],{"type":610,"attrs":790},{"color":612},{"text":792,"type":559,"marks":793},"Masdar ",[794,796],{"type":610,"attrs":795},{"color":612},{"type":564},{"text":798,"type":559,"marks":799},"secured a major funding package of over $5.1 billion for \"the world’s first gigascale 24/7 renewable energy project\" in the UAE. The funding came from an international consortium of banks.",[800],{"type":610,"attrs":801},{"color":612},{"type":781,"content":803},[804],{"type":554,"attrs":805,"content":806},{"textAlign":49},[807,812,818],{"text":808,"type":559,"marks":809},"There was a significant drone and defence industry raise in Europe, where German drone maker ",[810],{"type":610,"attrs":811},{"color":612},{"text":813,"type":559,"marks":814},"Helsing ",[815,817],{"type":610,"attrs":816},{"color":612},{"type":564},{"text":819,"type":559,"marks":820},"secured $1.8 billion in Series E funding.",[821],{"type":610,"attrs":822},{"color":612},{"type":781,"content":824},[825],{"type":554,"attrs":826,"content":827},{"textAlign":49},[828,830,834],{"text":829,"type":559},"Canadian independent power producer (IPP) ",{"text":831,"type":559,"marks":832},"Boralex ",[833],{"type":564},{"text":835,"type":559},"secured $1.65 billion in new financing to expand its renewables operations in France.",{"type":781,"content":837},[838],{"type":554,"attrs":839,"content":840},{"textAlign":49},[841,843,847,849,853],{"text":842,"type":559},"Funding for renewables coupled with energy storage were a theme throughout the month, with ",{"text":844,"type":559,"marks":845},"Nadara ",[846],{"type":564},{"text":848,"type":559},"and ",{"text":850,"type":559,"marks":851},"Avaada ",[852],{"type":564},{"text":854,"type":559},"also securing more than $1 billion in financing.",{"type":554,"attrs":856,"content":857},{"textAlign":739},[858,863,869,873,879,884,890],{"text":859,"type":559,"marks":860},"Over",[861],{"type":610,"attrs":862},{"color":612},{"text":864,"type":559,"marks":865}," $23 billion worth of financial transactions were tracked in July across over 68 deals",[866,868],{"type":610,"attrs":867},{"color":612},{"type":564},{"text":584,"type":559,"marks":870},[871],{"type":610,"attrs":872},{"color":612},{"text":874,"type":559,"marks":875}," ",[876,878],{"type":610,"attrs":877},{"color":612},{"type":564},{"text":880,"type":559,"marks":881},"To view all of this funding data in Excel, ",[882],{"type":610,"attrs":883},{"color":612},{"text":573,"type":559,"marks":885},[886,888],{"type":576,"attrs":887},{"href":578,"uuid":49,"anchor":49,"target":579,"linktype":580},{"type":610,"attrs":889},{"color":612},{"text":584,"type":559,"marks":891},[892],{"type":610,"attrs":893},{"color":612},{"type":586,"attrs":895,"content":896},{"level":588,"textAlign":739},[897],{"text":898,"type":559},"M&A activity and other market news",{"type":778,"content":900},[901,933,955,982],{"type":781,"content":902},[903],{"type":554,"attrs":904,"content":905},{"textAlign":739},[906,911,917,922,928],{"text":907,"type":559,"marks":908},"Spanish multinational ",[909],{"type":610,"attrs":910},{"color":612},{"text":912,"type":559,"marks":913},"Iberdrola ",[914,916],{"type":610,"attrs":915},{"color":612},{"type":564},{"text":918,"type":559,"marks":919},"has acquired an 80% stake in ",[920],{"type":610,"attrs":921},{"color":612},{"text":923,"type":559,"marks":924},"Caruna",[925,927],{"type":610,"attrs":926},{"color":612},{"type":564},{"text":929,"type":559,"marks":930},", Finland's largest electricity distributor, as it refocuses its investments into electricity networks",[931],{"type":610,"attrs":932},{"color":612},{"type":781,"content":934},[935],{"type":554,"attrs":936,"content":937},{"textAlign":739},[938,944,949],{"text":939,"type":559,"marks":940},"SDP Energie",[941,943],{"type":610,"attrs":942},{"color":612},{"type":564},{"text":945,"type":559,"marks":946},", a German BESS developer, has been acquired by UK clean power firm ",[947],{"type":610,"attrs":948},{"color":612},{"text":950,"type":559,"marks":951},"Zenobe",[952,954],{"type":610,"attrs":953},{"color":612},{"type":564},{"type":781,"content":956},[957],{"type":554,"attrs":958,"content":959},{"textAlign":739},[960,966,971,977],{"text":961,"type":559,"marks":962},"Einride",[963,965],{"type":610,"attrs":964},{"color":612},{"type":564},{"text":967,"type":559,"marks":968},", a Swedish EV company, acquired ",[969],{"type":610,"attrs":970},{"color":612},{"text":972,"type":559,"marks":973},"Flipturn",[974,976],{"type":610,"attrs":975},{"color":612},{"type":564},{"text":978,"type":559,"marks":979},", an EV charging and energy management software developer",[980],{"type":610,"attrs":981},{"color":612},{"type":781,"content":983},[984],{"type":554,"attrs":985,"content":986},{"textAlign":739},[987,992,998,1003,1009,1014,1020],{"text":988,"type":559,"marks":989},"Two energy storage battery firms, ",[990],{"type":610,"attrs":991},{"color":612},{"text":993,"type":559,"marks":994},"C&D Technologies",[995,997],{"type":610,"attrs":996},{"color":612},{"type":564},{"text":999,"type":559,"marks":1000}," and ",[1001],{"type":610,"attrs":1002},{"color":612},{"text":1004,"type":559,"marks":1005},"Trojan Battery Company",[1006,1008],{"type":610,"attrs":1007},{"color":612},{"type":564},{"text":1010,"type":559,"marks":1011},", were acquired by ",[1012],{"type":610,"attrs":1013},{"color":612},{"text":1015,"type":559,"marks":1016},"Stryten Energy",[1017,1019],{"type":610,"attrs":1018},{"color":612},{"type":564},{"text":874,"type":559,"marks":1021},[1022],{"type":610,"attrs":1023},{"color":612},{"type":586,"attrs":1025,"content":1026},{"level":588,"textAlign":49},[1027],{"text":1028,"type":559,"marks":1029},"2025/26 performance of energy transition IPO market",[1030],{"type":610,"attrs":1031},{"color":612},{"type":663,"attrs":1033},{"id":687,"body":1034},[1035],{"id":1036,"_uid":1037,"type":670,"component":671,"fixed_height":672,"use_fixed_height":50,"fixed_height_mobile":672,"fixed_height_tablet":672},"29998799","i-aeafcbd9-a9f7-48b5-8547-156aad074582",{"type":586,"attrs":1039,"content":1040},{"level":588,"textAlign":739},[1041],{"text":1042,"type":559,"marks":1043},"Market listings and updates",[1044],{"type":610,"attrs":1045},{"color":612},{"type":554,"attrs":1047,"content":1048},{"textAlign":739},[1049,1054,1056,1061,1062],{"text":1050,"type":559,"marks":1051},"In July, we tracked a range of IPOs across global stock markets that included a bumper $751 million debut for autonomous driving firm Momenta in Hong Kong, where Rokae Robotics Group also raised $112 million. Comfortably the largest IPO of the month ",[1052],{"type":610,"attrs":1053},{"color":612},{"text":1055,"type":559},"– ",{"text":1057,"type":559,"marks":1058},"and Asia's largest of the year ",[1059],{"type":610,"attrs":1060},{"color":612},{"text":1055,"type":559},{"text":1063,"type":559,"marks":1064},"was, however, China Resources New Energy, a renewable energy firm that raised $3.6 billion when it listed in Shenzhen.",[1065],{"type":610,"attrs":1066},{"color":612},{"type":554,"attrs":1068,"content":1069},{"textAlign":739},[1070],{"text":1071,"type":559,"marks":1072},"There were a range of offerings for mineral resources and mining firms, with IMC Rare Earths debuting on the New York Stock Exchange, Polar Resources debuting in Europe and Neu Horizon Uranium going public on the Australian Securities Exchange.",[1073],{"type":610,"attrs":1074},{"color":612},{"type":554,"attrs":1076,"content":1077},{"textAlign":739},[1078,1085,1090,1095,1101],{"type":1079,"attrs":1080},"image",{"id":1081,"alt":672,"src":1082,"title":672,"source":672,"copyright":672,"meta_data":1083},210729169878874,"https://a.storyblok.com/f/287943243085208/503x552/3c10e06ff7/screenshot-2026-08-19-115857.png",{"size":1084},"503x552",{"type":1079,"attrs":1086},{"id":1087,"alt":672,"src":1088,"title":672,"source":672,"copyright":672,"meta_data":1089},210406754020392,"https://a.storyblok.com/f/287943243085208/539x544/e7efa0b312/screenshot-2026-08-18-140646.png",{},{"type":1079,"attrs":1091},{"id":1092,"alt":672,"src":1093,"title":672,"source":672,"copyright":672,"meta_data":1094},210407606389936,"https://a.storyblok.com/f/287943243085208/542x551/82275abec6/rokae-fixed.png",{},{"type":1079,"attrs":1096},{"id":1097,"alt":672,"src":1098,"title":672,"source":672,"copyright":672,"meta_data":1099},210406754040874,"https://a.storyblok.com/f/287943243085208/541x553/bd979c4ead/screenshot-2026-08-18-140657.png",{"size":1100},"541x553",{"text":1102,"type":559},"Announcements",{"type":554,"attrs":1104,"content":1105},{"textAlign":739},[1106],{"text":1107,"type":559,"marks":1108},"Throughout July, several energy transition and critical mineral companies progressed or announced plans to list across exchanges:",[1109],{"type":610,"attrs":1110},{"color":612},{"type":778,"content":1112},[1113,1124,1137,1148],{"type":781,"content":1114},[1115],{"type":554,"attrs":1116,"content":1117},{"textAlign":739},[1118,1122],{"text":1119,"type":559,"marks":1120},"Londian Wason New Energy Tech",[1121],{"type":564},{"text":1123,"type":559},", a Chinese maker of lithium ion battery copper foil, announced its plan to go public in July ahead of an IPO in August on the NYSE",{"type":781,"content":1125},[1126],{"type":554,"attrs":1127,"content":1128},{"textAlign":739},[1129,1131,1135],{"text":1130,"type":559},"Nuclear energy firm ",{"text":1132,"type":559,"marks":1133},"Holtec Nuclear Corporation ",[1134],{"type":564},{"text":1136,"type":559},"filed to list on the Nasdaq as power demand continues to grow in the US on the back of data centre growth",{"type":781,"content":1138},[1139],{"type":554,"attrs":1140,"content":1141},{"textAlign":739},[1142,1146],{"text":1143,"type":559,"marks":1144},"Chilwa Minerals",[1145],{"type":564},{"text":1147,"type":559},", a critical minerals exploration company working in Africa, also announced plans to list on the Nasdaq Capital Market",{"type":781,"content":1149},[1150],{"type":554,"attrs":1151,"content":1152},{"textAlign":739},[1153,1157],{"text":1154,"type":559,"marks":1155},"Juniper Green Energy",[1156],{"type":564},{"text":1158,"type":559},", an Indian renewables firm, progressed its plans to list in August in India","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",[1162,1164,1167,1170,1172,1174,1176,1179,1182,1185,1188,1191,1194,1197,1200,1202,1205,1207,1210,1212,1215,1217,1220,1223,1226],{"slug":1163,"name":261},"anode",{"slug":1165,"name":1166},"batteries","Batteries",{"slug":1168,"name":1169},"battery-technology","Battery Technology",{"slug":1171,"name":373},"black-mass",{"slug":1173,"name":298},"cathode",{"slug":1175,"name":115},"cobalt",{"slug":1177,"name":1178},"copper","Copper",{"slug":1180,"name":1181},"critical-minerals","Critical Minerals",{"slug":1183,"name":1184},"ess","ESS",{"slug":1186,"name":1187},"ev","EV",{"slug":1189,"name":1190},"fluorspar","Fluorspar",{"slug":1192,"name":1193},"geopolitics","Geopolitics",{"slug":1195,"name":1196},"gigafactories","Battery & Gigafactory",{"slug":1198,"name":1199},"graphite","Graphite",{"slug":1201,"name":8},"lithium",{"slug":1203,"name":1204},"manganese","Manganese",{"slug":1206,"name":189},"natural-graphite",{"slug":1208,"name":1209},"new-energy","New Energy",{"slug":1211,"name":150},"nickel",{"slug":1213,"name":1214},"phosphate","Phosphate",{"slug":1216,"name":414},"rare-earths",{"slug":1218,"name":1219},"recycling","Recycling",{"slug":1221,"name":1222},"silicon-anode","Silicon Anode",{"slug":1224,"name":1225},"sustainability","Sustainability",{"slug":1227,"name":1228},"synthetic-graphite","Synthetic Graphite","private","Aug 19, 2026","19th August 2026",[],[],1787328937358]