Riverstone Energy Limited REL Leads Infinitum's $80M Series D Round (8542L)
18 Mayo 2022 - 09:07AM
UK Regulatory
TIDMRSE
RNS Number : 8542L
Riverstone Energy Limited
18 May 2022
LEI: 213800HAZOW1AWRSZR47
REL Makes Lead Investment in Infinitum Electric's $80M in Series
D Round
to Scale Production of High-Efficiency Motors
18 May 2022 - Riverstone Energy Limited (REL) is pleased to
announce a lead investment in Infinitum Electric, creator of the
breakthrough air-core motor. Infinitum Electric will use the
investment to vertically integrate and automate production of its
motors for the commercial and industrial market segments, and
complete development and commercialisation of a traction motor for
the rapidly growing electric vehicle market.
Riverstone Holdings led the round with Applied Ventures, the
venture capital arm of Applied Materials, Inc. (NASDAQ: AMAT),
Alliance Resource Partners and existing investors Cottonwood
Technology Fund, Chevron Technology Fund, Aventurine Partners,
Energy Innovation Capital and Ajax Strategies participating,
bringing the company's total funding to date to $135 million.
"Decarbonisation across commercial, industrial and consumer
markets driven by ESG and the energy transition creates wide scale
opportunities for Infinitum Electric's motors to power a new
generation of machines with greater performance, and at a fraction
of the carbon footprint of traditional motors," said John
Staudinger, managing director of Riverstone Holdings. "We're
excited to welcome Infinitum Electric to our portfolio and partner
with Ben Schuler and his extraordinary team as they scale
production of motors that are better for the planet and
people."
This investment, along with the recent decarbonisation
investments in T-REX Group, Anuvia, and Tritium Pty, among others,
demonstrates REL's continued efforts to increase its exposure to
the global energy transition thematic while also providing the
opportunity to create value for its shareholders.
About Infinitum Electric
Founded in 2018, Infinitum Electric has raised the bar for a new
generation of motor that is better for the planet and people. The
company's patented air-core motors offer superior performance in
half the weight and size, at a fraction of the carbon footprint of
traditional motors, making them pound for pound the most efficient
in the world. Infinitum Electric motors open up sustainable design
possibilities for the machines we rely on to be smaller, lighter
and quieter, improving our quality of life while also saving
energy. Based in Austin, Texas, Infinitum Electric is led by a team
of industry experts and pioneers. To learn more, visit
www.infinitumelectric.com .
About Riverstone Energy Limited:
REL is a closed-ended investment company that has since 2020
been exclusively focussed on pursuing and has committed $167
million to a global strategy across decarbonisation sectors
presented by Riverstone's investment platform. REL's ordinary
shares are listed on the London Stock Exchange, trading under the
symbol RSE. REL has 18 active investments spanning decarbonisation,
oil and gas, renewable energy and power in the Continental U.S.,
Western Canada, Gulf of Mexico and Europe.
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END
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May 18, 2022 10:07 ET (14:07 GMT)
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