Energy & Sustainability M&A Activity — December 2024

By Thomas R. Burton, III, Sahir Surmeli

Recent M&A Activity:

November 18, 2024: Piedmont Lithium, a U.S. based, development-stage, multi-asset, integrated lithium business in support of a clean energy economy and energy security, reached a definitive agreement to be acquired by Sayona Mining for an undisclosed amount. This merger marks a transformative step for Sayona, creating a leading North American lithium producer with the scale and capabilities to meet the growing demand for lithium products. Read here.

November 15, 2024: Midwest Solar Expo, a clean energy deployment company offering services such as industry networking, educational sessions, hands-on training, exhibition, and events for the solar and clean energy industry was acquired by Diversified Communications for an undisclosed amount. The company offers services such as industry networking, educational sessions, hands-on training, exhibition, and events for the solar and clean energy industry. Read here.

November 1, 2024: Lumio (Utah), a provider of residential solar energy services in the energy sector offering solar hardware installation, financing, roofing and custom designing, was acquired by Zeo Energy for $4 million. Read here.

October 30, 2024: Maddox Industries, a provider of electric vehicle consulting services offering government contracting sales, electric vehicle charging infrastructure, and manufacturing services, was acquired by Envirotech Drive Systems for $7.54 million. The acquisition strengthens Envirotech's capabilities in EV manufacturing and technology, including assembly lines, allowing the company to monetize carbon credits generated from the manufacturing of electric vehicles. Read here.

October 29, 2024: Ultra Safe Nuclear, an operator of nuclear power company intended to produce equipment to facilitate nuclear power production reached a definitive agreement to be acquired by Standard Nuclear for $28 million on October 29, 2024. The company filed for Chapter 11 bankruptcy on October 29, 2024. Read here.

 

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    Energy & Sustainability Connections Newsletter — December 2024

    December 2, 2024| Article|

    Authors

    Thomas R. Burton, III

    Member / Chair, Energy & Sustainability Practice

    Tom Burton has helped to shape the clean energy industry by drawing on his passion for innovation. As a Mintz attorney, Tom counsels investors, entrepreneurs, and Fortune 100 companies. He also guides start-up organizations and accelerators to foster the next generation of energy leaders.

    Sahir Surmeli

    Member / Co-chair, Energy & Sustainability Practice

    Sahir Surmeli is a Mintz business counselor who advises companies, boards, entrepreneurs, investment banks, and venture and private equity investors as they build and grow companies. He handles public offerings, 144A and private financings, acquisitions, joint ventures, and strategic partnerships.