In this Deals + Dollars update, we highlight the latest investments, mergers, and strategic partnerships shaping the energy and sustainability sectors.
Google has announced a $3.3 billion investment to expand its cloud and data center infrastructure in South Carolina, including the construction of two new data centers in Dorchester County and upgrades to its Berkeley County campus. The investment will create 200 new operational jobs and approximately 1,200 long-term construction jobs.
The company also confirmed new initiatives to support energy affordability programs and improve watershed health. Google will invest $1.6 million to expand energy efficiency programs for low- and moderate-income households and contribute $600,000 to restore the local longleaf pine ecosystem in the Cooper River Watershed as part of its 2030 sustainability goals.
MediSun Energy and MOAJ Holding have launched MediSun Arabia, a joint venture aimed at providing innovative energy solutions and addressing water scarcity in Saudi Arabia. MOAJ Holding will invest $30 million to build a manufacturing facility for MediSun's WEGen stacks, essential components for renewable energy projects. This facility will support Saudi Arabia's renewable energy goals under Vision 2030 and position MOAJ as the exclusive distributor of MediSun’s technologies in the Gulf Cooperation Council (GCC). The partners will also co-develop the Saudi Brine Management Program, focusing on desalination brine treatment in collaboration with a leading academic institution.
Ayrton Energy, a developer of liquid organic hydrogen carrier (LOHC) technology, has secured $6.8 million in seed funding. This financing round, led by Clean Energy Ventures and BDC Capital, will allow Ayrton to scale its proprietary technology, expand operations into U.S. energy hubs, and double its workforce.
The company's technology addresses key challenges in the clean hydrogen sector, such as high transportation costs and inadequate storage infrastructure. Ayrton's LOHC approach aims to offer a safer, more efficient means of hydrogen delivery, crucial for enabling the widespread adoption of clean hydrogen in hard-to-decarbonize industries like aviation and shipping. The global clean hydrogen market is projected to grow significantly, reaching $1.4 trillion annually by 2050.
Clemson University and Johnson Controls have announced the establishment of the Johnson Controls Building Analytics for Sustainability and Health Center, funded by a $3 million commitment from Johnson Controls and its Foundation. Located in the Watt Family Innovation Center, the center will focus on advancing the use of analytics to enhance building sustainability and health. It will also offer new student opportunities, including scholarships, hands-on learning experiences, and a specialized certificate in building analytics. The collaboration will leverage Johnson Controls' OpenBlue Enterprise Manager to optimize building performance. This initiative builds on a long-standing partnership between Clemson and Johnson Controls, aiming to foster innovation, education, and research in the smart building industry.
Banyan Software has launched the Banyan Software Foundation, pledging $100 million in stock over the next four years to support technology-driven initiatives for a greener and more equitable world. The Foundation, set to become one of Banyan's largest shareholders, begins with two $1 million grants to TransitionZero and Merit America. TransitionZero focuses on energy systems modeling for low-income countries to assist with renewable energy transitions, while Merit America offers reskilling programs for low-wage workers in the U.S. In addition to the Foundation, Banyan has introduced several purpose-driven employee initiatives, including a Relief Fund and volunteer time off.
LiquidStack, a leading provider of liquid cooling solutions for data centers, has secured an additional $20 million from Tiger Global in its Series B extension, bringing the total round to $35 million. The company will use the funds to expand its manufacturing operations, enhance its product portfolio for direct-to-chip and immersion cooling, and scale commercial and R&D activities.
As demand for data center cooling intensifies due to AI and high-performance computing (HPC), LiquidStack’s innovative solutions, including single and two-phase immersion cooling, are poised to play a key role in addressing the industry's power and thermal challenges. The liquid cooling market is expected to grow to $15 billion by 2028.
Reverion, a German company developing reversible, carbon-negative power plants, has raised $62 million in Series A funding, including non-dilutive capital, to scale its production. The round was led by Energy Impact Partners (EIP) with contributions from Honda, the European Innovation Council Fund, and several existing investors. Reverion's patented technology utilizes biogas to generate electricity with up to 80% efficiency, doubling the output of traditional gas engines and capturing CO2 to enable carbon-negative power generation. The new funding will allow Reverion to start serial production and fulfill over $100 million in customer pre-orders, positioning the company for growth in the renewable energy sector.
Two Michigan State University (MSU) scientists, Hui Li and Cheryl Murphy, have been awarded over $1.5 million each in grants to study the impact of per- and polyfluoroalkyl substances (PFAS) on agricultural operations. Li received $1.6 million from the U.S. Environmental Protection Agency (EPA), and Murphy secured $1.75 million from the Michigan Department of Agriculture and Rural Development (MDARD).
The research will focus on PFAS contamination, plant uptake, and livestock bioaccumulation on a Michigan farm. The project aims to better understand PFAS transfer in soil, crops, and livestock, and develop mitigation strategies for farms impacted by PFAS-contaminated biosolids. The results will be shared with agricultural stakeholders through MSU Extension.
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