The Week in Deals
3 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Dec 4 | Strategic & Growth Capital | Carbon Captu… | Heirloom Carbon Technologies | Future Positive (lead), Lowercarbon Capital (lead), Ahren Innovation Capital, Breakthrough Energy Ventures, Carbon Direct Capital, Japan Airlines, MCJ Collective, Mitsubishi Corporation, Mitsui & Co., MOL Switch LLC, Quantum Innovation Fund, Siemens Financial Services | $150M | CA, LA | Closed | Heirloom Series B led by Future Positive and Lowercarbon Capital. Brings cumulative funding to >$200M. Heirloom uses limestone calcination DAC (mineralization). Anchor offtake includes Microsoft credits. Project Cypress facility (Caddo-Bossier, LA) starts 2027 at 100K tpa, scales to 300K tpa. Awarded $50M initial DOE Regional DAC Hub funding (Project Cypress with Battelle/Climeworks). | |
| Dec 3 | Power Purchase & Offtake | Solar+BESS | Multiple (26 contracts, mix of solar/wind/hydro developers) | NYSERDA (state of New York) | $6.00B | NY | Closed | NYSERDA Tier 1 land-based renewables solicitation. 26 contracts (mix of solar, onshore wind, small hydro). 2,566 MW total. Drives ~$6B private investment, 5,000 GWh/yr expected output. First 23 contracts executed Dec 3, 2024; remaining executed May 2025. | |
| Dec 2 | Power Purchase & Offtake | Solar | Avangrid (Iberdrola Group) | Portland General Electric (via Green Future Impact program for QTS / Meta data centers) | 120 MW | OR | Announced | Avangrid's 6th OR solar facility. ~$20M PILOTs/property taxes. SEG Solar (Houston, TX) supplies 200,000+ panels. PGE's Green Future Impact program contracts with Avangrid; energy attributed to QTS data centers serving Meta. In-service 2026. |
Change of Control
3 movesRachit Srivastava promoted to Chief Technology Officer at Sunrun
Promoted to CTO at the nation's largest residential solar and storage company. Reflects Sunrun's increasing focus on AI and technology-driven operations under CEO Mary Powell.
H. Keith Jennings joined as Chief Financial Officer at Array Technologies (from EVP and CFO, Weatherford International)
Jennings joined Array Technologies (the leading solar tracker manufacturer) from Weatherford International, bringing public company CFO experience to support Array's growth.
Stanley W. Connally, Jr. named EVP and Chief Operating Officer at Southern Company (from EVP, Operations, Southern Company)
Connally elevated to COO of Southern Co. — overseeing Vogtle 3 & 4 stewardship and Georgia Power's rapid build-out for Hyundai/QTS data-center loads.
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