SMT Ironman Battery Storage

Texas BESS portfolio — 730 MW / 1,049 MWh across 4 projects (ERCOT)

UBS Asset Management / Captona JV → Deutsche Bank, First Citizens (Co-Lead Arrangers); Société Générale, Siemens Financial Services, BankUnited, Mitsubishi HC Capital, BayernLB

$315.7M

REE Automotive — modular EV "REEcorner" platform for fleets

REE Automotive (NASDAQ: REE) → 10X Capital Venture + $300M PIPE

$3.1B combined value; >$500M proceeds (incl. $300M PIPE)

Microvast — Li-ion battery systems for EVs and energy storage (ultra-fast charging, high cycle life)

Microvast Inc. → Tuscan Holdings Corp.

$3B (pro forma equity)

Broad Reach Power — 21 GW utility-scale solar + storage portfolio across MT, CA, WY, TX (350 MW BESS operating; 880 MW under construction; 1.7 GW pipeline)

EnCap Investments (with co-investors Yorktown Partners + Mercuria Energy retained 50%) → Apollo Funds (Apollo Global Management)

Undisclosed (plus up to $400M co-equity commitment)

Jupiter Power — standalone BESS operator/developer (655 MWh operating in TX + 11 GW pipeline + 340 MWh near construction)

EnCap Energy Transition Fund I, Yorktown Partners, Mercuria Energy → BlackRock Diversified Infrastructure

WGL Holdings — Washington Gas Light + non-regulated power/marketing/midstream

AltaGas Ltd.

C$8.4B (~$6.4B USD; $88.25/share cash)