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BFD Expert Voices - Climate Deals

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• Antares, a Torrance, Calif., nuclear reactor startup, raised $470m in Series C funding. Paradigm and Caffeinated Capital led, joined by Point72 Ventures, Shine Capital, and Industrious Ventures. Go deeper

• Claros Technologies, a Minneapolis-based developer of PFAS-destruction tech, raised $55m in Series B funding. Treehouse Family Capital led, joined by Daikin America, Veralto, Bush Foundation, Nord Asset Management, and Saint Paul & Minnesota Foundation. Go deeper

• Lydian, a Boston-based sustainable aviation fuel maker, raised a $43m Series A led by Breakthrough Energy Ventures. New investors AP Ventures, Builders Vision, and existing investors Congruent Ventures, Galvanize, Grok Ventures, Overture, Union Square Ventures, and Voyager Ventures joined. Go deeper

• Greyparrot, a London-based waste intelligence startup, raised $27m in Series B funding led by Omar Mir. Go deeper

• Array Labs, a Redwood City, Calif.-based radar satellite developer, raised $21m. Mitsubishi Electric led, joined by Catapult Ventures, Kompas VC, and YC. Go deeper

• Terminal, a Toronto-based commercial fleet telematics data startup, raised US$20m in Series A funding, per Axios Pro. Battery Ventures led, joined by Intact Private Capital, Penske, and Wayfinder Ventures. Go deeper

• Nuclear Turbines, a U.K. nuclear reactor startup, raised £15m. IQ Capital led, joined by Rhapsody Venture Partners, Zero Carbon Capital, and Empirical Ventures. Go deeper

• Nanoramic, a Woburn, Mass.-based battery materials startup, is raising $15m and has closed on $9m, according to an SEC filing. Go deeper

• Alpen High Performance Products, a Louisville, Colo.-based maker of high-efficiency windows and glazing systems, raised $6m toward a targeted $10m Series B led by Inherent Capital and Arborview Capital. Go deeper

• Quercus Biosolutions, a St. Louis-based developer of sustainable crop protection products, raised $5m in seed funding. Serra Ventures led, joined by Starshot Capital, Grantham Foundation for the Protection of the Environment, Flyover Capital, Rootstock Capital, Iowa Corn Opportunities Fund, AgriCap Fund, Kentucky Corn Plus, AgVentures Alliance, and Ag Startup Engine. Go deeper

• Fast Metals, a Stamford, Conn.-based startup developing tech to recover materials from mining waste, raised $4.3m in pre-seed funding. New Climate Ventures led, joined by Azolla Ventures, Humba Ventures, Astor Swiss, and Rio Tinto. Go deeper

• Perceptual Robotics, a U.K. wind turbine inspection startup, raised over £4m from Investing for Purpose, Loggerhead Ventures and One Planet Capital, and Innovate UK. Go deeper

•Biota, a Longmont, Colo.-based developer of rapid PFAS testing and environmental diagnostics, raised $3m in seed funding. Burnt Island Ventures led, joined by DeepWork Capital, Antler, Beyond Utility Water Ventures, and Deming Center Venture Fund. Go deeper

• Brookfield agreed to buy Austin, Texas-based battery storage firm Aypa Power from Blackstone for $7b (including debt). Go deeper

• Blackstone Energy Transition Partners agreed to acquire Canadian infrastructure inspection company DarkVision Technologies from Koch Engineered Solutions. Go deeper

• FIC Partners Management has acquired solar and storage developer Perfect Power. Go deeper

•Madison River Capital acquired Nexus Power, a Utah-based provider of power systems design, engineering, procurement, and project management. Go deeper

• TPG is in exclusive talks to buy Houston-based Netrality Data Centers from Macquarie Group for $2b-$3b, per Bloomberg. Go deeper

• Wynnchurch Capital agreed to acquire materials maker Luxfer (NYSE: LXFR) for $463m in cash, or $17.34 per share. Go deeper

• Key Line, a Gemspring portfolio company, is merging with Palouse Power to form a utility infrastructure services platform in the Pacific Northwest. Go deeper

• H.I.G. Capital acquired Avove, a U.K. infrastructure services and engineering firm focused on the water and power markets, from Rubicon Partners. Go deeper

• Strategic Value Partners agreed to acquire a minority stake in South Field Energy, a natural gas-fired combined-cycle generation facility in Ohio. Go deeper

• KKR and Energy Capital Partners agreed to acquire U.K. energy distributor DCC Energy for more than £5.7b. Go deeper

• Qualitas Energy and Wren House are in talks to buy BP's (LSE: BP) solar power arm, per the FT. Go deeper

• Juniper Green Energy, an Indian renewable energy company, unveiled plans for an Indian IPO that could raise up to $187.7m. Go deeper

• GFL Environmental (NYSE: GFL), a waste management company with nearly a $15b market cap, confirmed that it's received take-private acquisition offers. Go deeper

• BP (LSE: BP) said it plans to explore a sale of its North Sea business. Go deeper

• Shell (NYSE: SHEL) agreed to sell its Cypress business to listed Hungarian energy firm MOL Group for up to $720m. Go deeper

• Procore Technologies (NYSE: PCOR) agreed to acquire DroneDeploy, an SF-based robotics and visual intelligence platform, for $845m in cash. DroneDeploy had raised over $150m from firms like Energize Capital, Bessemer Venture Partners, Future Fund, AirTree, Scale Venture Partners, Uncork Capital, Emergence Capital, and AngelPad. Go deeper

• Xylem (NYSE: XYL) is paying $200m to buy WaterFleet, a San Antonio-based provider of mobile water and wastewater utility services, from EagleTree Capital. Go deeper

• Snapper Creek Energy, a London-based commodities brokerage specializing in energy and financial derivatives, acquired Stag International Group, an inter-dealer commodities broker. Go deeper

• Five Point Infrastructure agreed to sell Spring, Texas-based gas marketer Twin Eagle to Expand Energy (Nasdaq: EXE) for $1.25b. Go deeper

• Devon Energy (NYSE: DVN) is seeking to sell its Eagle Ford and Powder River Basin shale assets for more than $4b, per Bloomberg. Go deeper

• Legora, a legal-tech valued at $5.6b by VCs, acquired Wexler, a London-based fact intelligence platform that had raised over $8m from firms like Pear and Seedcamp. Go deeper

• Xylem (NYSE: XYL) is paying $200m to buy WaterFleet, a San Antonio, Texas-based provider of mobile water and wastewater utility services, from EagleTree Capital. Go deeper

• Blue Owl Capital has secured $10.6b for its sixth GP stakes fund, which is targeting a total of $13b. Go deeper

• Index Ventures raised $2b in new fund capital, including a $900m VC fund, a $400m seed fund, and $700m more for an existing growth fund that originally closed in 2024 with $1.5b. Go deeper

• AMD signed a deal with Core Scientific to secure up to 2.5 gigawatts of data center capacity. Go deeper

• Thea Energy (fka Princeton Stellarators), a Kearny, N.J.-based fusion developer, received a $20m DOE grant to manufacture high-temperature superconducting magnets. Go deeper

• Calysta, a Menlo Park, Calif.-based methane-to-protein startup, halted production at its demonstration plant after its JV partner at the site, French livestock feed producer Adisseo, ended financial support for the effort, per AgFunder News. Go deeper

Energy and climate deals of the week

Illustration of an electric plug and socket surrounded by lightning bolts and the words "Energy and climate deals round up"

Illustration: Sarah Grillo/Axios. Stock: Getty Images

<h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]">Venture Capital</h2>• Antares, a Torrance, Calif., nuclear reactor startup, raised $470m in Series C funding. Paradigm and Caffeinated Capital led, joined by Point72 Ventures, Shine Capital, and Industrious Ventures. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://www.marketwatch.com/story/antares-raises-470m-for-next-round-of-nuclear-reactor-development-f30816a6?mod=markets#_ga=2.43759205.1797782629.1785170477-82838453.1761310876&amp;_gac=1.128785790.1784828859.Cj0KCQjw94bTBhDQARIsAN3vv0xSpEs3RElg09I2PmzBf3Eqscs0KWE_YFAMtVjoyrss-HR9M3H0hBkaAvc1EALw_wcB" data-vars-content-id="0bea783f-1d37-45bc-8a8e-e7a5536ae072" data-vars-headline="Energy and climate deals of the week" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.marketwatch.com/story/antares-raises-470m-for-next-round-of-nuclear-reactor-development-f30816a6?mod=markets#_ga=2.43759205.1797782629.1785170477-82838453.1761310876&amp;_gac=1.128785790.1784828859.Cj0KCQjw94bTBhDQARIsAN3vv0xSpEs3RElg09I2PmzBf3Eqscs0KWE_YFAMtVjoyrss-HR9M3H0hBkaAvc1EALw_wcB" target="_blank">Go deeper</a>• Claros Technologies, a Minneapolis-based developer of PFAS-destruction tech, raised $55m in Series B funding. Treehouse Family Capital led, joined by Daikin America, Veralto, Bush Foundation, Nord Asset Management, and Saint Paul &amp; Minnesota Foundation. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://www.finsmes.com/2026/07/claros-technologies-raises-55m-in-series-b-funding.html" data-vars-content-id="0bea783f-1d37-45bc-8a8e-e7a5536ae072" data-vars-headline="Energy and climate deals of the week" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.finsmes.com/2026/07/claros-technologies-raises-55m-in-series-b-funding.html" target="_blank">Go deeper</a>

Energy and climate deals of the week

Venture Capital

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