Riverstone Energy Limited REL Buys Interest in a Samsung Ventures Portfolio (8165I)
17 Agosto 2021 - 1:00AM
UK Regulatory
TIDMRSE
RNS Number : 8165I
Riverstone Energy Limited
17 August 2021
LEI: 213800HAZOW1AWRSZR47
Riverstone Energy Limited Purchases Interest in a Samsung
Ventures Portfolio
London, UK (17 August 2021). Riverstone Energy Limited ("REL")
has purchased an interest in one of Samsung Ventures' battery
technology focused venture capital portfolios (the "Samsung
Portfolio") for $30.0 million. The remaining interest was purchased
by Riverstone affiliates for $3.0 million. The Samsung Portfolio
consists of seven unrealised investments with the majority of value
deriving from over 1.66 million shares of Solid Power, Inc ("Solid
Power").
On 15 June 2021, Solid Power, an industry-leading producer of
all-solid-state rechargeable batteries for electric vehicles and
mobile power markets, announced a merger with Decarbonization Plus
Acquisition Corporation III ("DCRC"). REL owns founder shares and
warrants in DCRC and has a commitment to purchase $20 million of
DCRC common stock in a private placement transaction at $10 per
share. Assuming $10 per share of DCRC common stock, the Samsung
Portfolio's Solid Power shares would be valued at approximately $64
million.
This investment, along with the recent decarbonisation
investments in Decarbonization Plus Acquisition Corporation II, III
& IV, FreeWire Technologies, GoodLeap (formerly Loanpal) and
Hyzon Motors, 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 Riverstone Energy Limited:
REL is a closed-ended investment company that invests
exclusively in the global energy industry across all sectors. REL
aims to capitalise on the opportunities presented by Riverstone's
energy investment platform. REL's ordinary shares are listed on the
London Stock Exchange, trading under the symbol RSE. Following this
investment in the Samsung Portfolio, REL has 14 active investments
spanning decarbonisation, oil and gas, renewable energy and power
in the Continental U.S., Western Canada, Gulf of Mexico and
Europe.
For further details, see www.RiverstoneREL.com
About Riverstone Holdings LLC:
Riverstone is an energy and power--focused private investment
firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre,
Jr. with approximately US$41 billion of capital raised. Riverstone
conducts buyout and growth capital investments in the E&P,
midstream, oilfield services, power, and renewable sectors of the
energy industry. With offices in New York, London, Houston, Mexico
City, Amsterdam and Menlo Park, Riverstone has committed nearly
US$43 billion to more than 200 investments in North America, Latin
America, Europe, Africa, Asia, and Australia.
For further details, see www.RiverstoneLLC.com
Neither the contents of Riverstone Energy Limited's nor
Riverstone Holdings' websites nor the contents of any website
accessible from hyperlinks on the websites (or any other website)
is incorporated into, or forms part of, this announcement.
Media Contacts
For Riverstone Energy Limited:
Josh Prentice
+44 20 3206 6300
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