The EV charging company ABB E-mobility this morning said it raised $350 million in pre-IPO funding from heavyweight investors, Ben writes.
Driving the news: The four minority investors include Just Climate, a new fund unveiled last year by the Al Gore-founded Generation Investment Management.
- Others are private equity giant General Atlantic’s BeyondNetZero fund, Singapore’s sovereign wealth fund, and Porsche. Together, they obtained a 12% stake in ABB E-mobility.
What we’re watching: Just Climate this morning unveiled two other investments, the first time it has disclosed specifics since its rollout last year.
- One is in H2 Green Steel, a Swedish firm with tech to replace coal in steelmaking with “green” hydrogen — that is, hydrogen made with renewable energy. It’s part of their $283 million Series B equity funding round announced in October.
- The other is fellow Swedish firm Meva Energy, which per the announcement provides “gasification technology to generate renewable energy for manufacturing sectors.”
- Just Climate did not disclose the investment amounts.
Speaking of tech finance, the U.S. battery startup Our Next Energy closed a $300 million Series B capital raise led by Fifth Wall and Franklin Templeton. TechCrunch has more