Energy & Sustainability M&A Activity – August 2024

June 26, 2024: Infintium Fuel Cells, a manufacturer of a variety of hydrogen power cells with a maximum power of 35kWh, which act as an alternative to electric batteries, enabling businesses in the material handling industry to increase productivity, lower costs and deliver true-zero emissions, acquired Goldenstone Acquisition for $18 million through a reverse merger. The acquisition will allow Infintium to secure new manufacturing facilities and expand its sales and marketing operations as it continues its mission to provide carbon-free power sources for material-handling vehicles. Read more here.

July 10, 2024: Sunrise Wind, a producer of renewable wind energy intended to bring carbon-free economic development, was acquired by Ørsted for $230 million. As part of the agreement, Ørsted will acquire Eversource's 50% share of Sunrise Wind, a 924 MW offshore wind farm delivering power to New York. Sunrise Wind will be Ørsted's third offshore wind farm off the