The oil and gas sector is abuzz with activity as equity deals gain momentum, reflecting a year that has seen a substantial volume of investments. These deals underscore a vibrant market eager to drive energy innovation and navigate the shifting trends within the industry. From major acquisitions to key partnerships, the ongoing deal activity is shaping the future direction of the energy sector.
According to S&P Global, the recent quarter has seen the oil and gas industry record 85 whole-company and minority-stake deals, totaling $43.93 billion. This represents a slight uptick from the same period in 2023, which saw 81 deals valued at $43.82 billion. The growing deal activity highlights a trend towards integrating environmental sustainability into the industry’s investment strategies.
The top 5 oil and gas tech equity deals in Q2 2024, as per CB Insights, showcase the industry’s focus on innovation and sustainability. HIF Global secured a $164 million investment for its eFuels projects, with support from existing shareholders and a new partner, Japanese energy company Idemitsu Kosan. This collaboration aims to power the world with renewable energy and contribute to a greener future by recycling CO2 emissions equivalent to over 5 million cars.
ICEYE Ltd., a Finnish company specializing in synthetic aperture radar satellite technology, secured $136 million in a Series D funding round. The investment will drive the expansion of its SAR satellite constellation and product offerings, focusing on increasing demand for its Missions business and expanding SAR data services for various applications.
Aether Fuels raised $34 million in Series A funding to revolutionize sustainable aviation and shipping fuels. The investment will accelerate the development of Aether Aurora, an advanced technology for producing sustainable fuels from various feedstocks. Aether aims to expand its R&D and plant capacity in the U.S. and Southeast Asia to meet the growing demand for sustainable aviation fuel.
SENCO Hydrogen Capital made a significant $32 million equity investment in Strohm, a Dutch company known for its innovative pipeline technology. The funding aims to boost Strohm’s growth in hydrogen and carbon capture utilization and storage, contributing to a more sustainable energy future. This partnership underscores the commitment to reducing the carbon footprint of pipeline infrastructure.
LiveEO, a leader in transforming satellite data into actionable insights, secured $27 million in a Series B funding round led by NordicNinja and DeepTech & Climate Fonds (DTCF). This investment will drive the development of LiveEO’s AI-driven solutions and support the company’s expansion plans. The funding highlights the growing importance of leveraging technology for climate risk management.
These equity deals in the oil and gas sector represent a broader trend towards sustainability and innovation, signaling a shift towards a greener and more efficient energy industry. As companies continue to invest in cutting-edge technologies and strategic partnerships, the landscape of the energy sector is evolving to meet the challenges of the future.
