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New Deal


Announced

Completed

Fortescue, Fifth Wall and Energy Impact Partners led a $380m Series C round in Electric Hydrogen.

Financials

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Transaction Value£312m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Cross Border

Minority

Completed

United States

Electronic Components and Equipment

hydrogen systems

Private

Venture Capital

Friendly

Private Equity

Single Bidder

Synopsis

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Fortescue, an integrated green technology, energy and metals company, Fifth Wall, a venture capital firm, and Energy Impact Partners, a collaborative strategic investment firm, led a $380m Series C round in Electric Hydrogen, a deep decarbonization company, with participation from bp Ventures, Oman Investment Authority, Temasek, Microsoft’s Climate Innovation Fund, the United Airlines Sustainable Flight Fund, New Legacy, Kajima Ventures, Fatima Holdings USA, Climate Pledge Fund, Equinor Ventures, Mitsubishi Heavy Industries, Rio Tinto, Breakthrough Energy Ventures, Capricorn Partners, Prelude Ventures, and S2G Ventures. “Fortescue is committed and focused on supporting the creation of green technology to help heavy industry decarbonize and producing green hydrogen at scale globally is integral to that. Electric Hydrogen, just like Fortescue, is working at the speed and scale necessary to help deliver green-hydrogen projects around the world,” Mark Hutchinson, Fortescue Energy CEO.

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