Gic

GIC Pte. Ltd. is a sovereign wealth fund wholly owned by the Government of Singapore, established in 1981 to manage the country’s foreign reserves. The firm focuses on securing Singapore's financial future by investing across a diverse range of asset classes in both public and private markets. Its investment strategy includes public and private equity, with particular emphasis on health care, financial services, natural resources, real estate, and fixed income, as well as alternative markets such as foreign exchange and commodities. GIC also engages in venture capital, providing seed capital to start-ups and growth companies. The organization operates through subsidiaries that specialize in various investment categories and maintains a global presence with offices in key financial centers around the world. GIC aims to achieve sustainable long-term returns above global inflation, thereby fulfilling its responsibility to preserve and enhance Singapore's financial reserves for future generations.

Ethel Chen

SVP, Venture Capital and Technology Investing

Chow Kiat Lim

CEO and Founder

Sam Rosen

Investor

Kok Lee

Chief Investment Officer

Bryan Yeo

Chief Investment Officer, Public Equities

Past deals in Energy Storage

Calisen

Private Equity Round in 2024
Calisen plc is a company based in Manchester, United Kingdom, that owns and manages essential energy infrastructure assets. It operates through two primary business units: Calvin Capital and Lowri Beck. Calvin Capital focuses on procuring, owning, and managing a portfolio of electricity and gas meters, primarily smart meters, for energy retailers. Meanwhile, Lowri Beck provides installation, meter reading, maintenance services, and ancillary support, such as customer service and call center operations, also on behalf of energy retailers. Calisen aims to capitalize on the UK government's initiative to roll out smart meters and is committed to supporting a cleaner and more sustainable energy sector by offering innovative services, including electric vehicle charging solutions. The company was incorporated in 2020.

Form Energy

Series F in 2024
Form Energy, Inc. is a company focused on developing long-duration energy storage systems aimed at transforming the electric grid by enabling the reliable use of renewable energy sources such as wind and solar. Established in 2017 and based in Somerville, Massachusetts, Form Energy is known for its innovative iron-air battery technology, which allows for the storage of electricity over extended periods, making renewable energy more dispatchable throughout the year. This technology not only helps to replace conventional fossil fuel-based generation but also enhances transmission capacity without the need for new infrastructure. By facilitating deep decarbonization of the electric system, Form Energy plays a significant role in reducing carbon emissions and promoting a sustainable energy future.

Sunfire

Series E in 2024
Sunfire is a company that specializes in developing and manufacturing systems for renewable industrial gas and fuel production. It focuses on creating substitutes for fossil fuels, such as mineral oil and natural gas, through innovative technologies like electrolyzers and solid oxide cells. These systems convert renewable electrical energy from sources like wind farms, hydropower plants, and photovoltaic systems into fuels and gases, including renewable hydrogen and syngas. By enabling the chemical, fuel, and steel industries to transition away from fossil energy, Sunfire aims to provide sustainable energy solutions that are available whenever needed, thus integrating renewable energy into existing infrastructures.

Stegra

Private Equity Round in 2024
Stegra operates a state-of-the-art steel production plant focused on decarbonizing the European steel industry. The company's facility is designed as a fully integrated, digitalized, and automated greenfield site that combines raw materials, renewable energy, local expertise, and artificial intelligence. By replacing CO2-intensive coal with green hydrogen, Stegra enables the production of fossil-free steel at competitive costs. The plant includes a large-scale green hydrogen production unit, which is integral to its steel manufacturing process.

Euler Motors

Series C in 2023
Euler Motors is an automotive technology startup specializing in commercial electric vehicles, particularly electric three-wheelers designed for intra-city goods transportation. The company aims to accelerate India's transition to sustainable mobility by addressing the challenges of last-mile logistics for e-commerce and third-party logistics providers. By providing a comprehensive "mobility as a service" solution, Euler Motors seeks to facilitate the mass-market adoption of electric vehicles, thereby contributing to the Electric Vehicle Revolution in India. Their vehicles not only promise lower maintenance costs but also help reduce the overall cost of fleet operations for users.

InterContinental Energy

Series B in 2023
InterContinental Energy is a Hong Kong-based greentech company dedicated to decarbonization and greenhouse gas reduction through the development of green hydrogen fuel projects. By harnessing renewable energy sources, specifically wind and solar power, the company produces green hydrogen at scale. This innovative approach aims to facilitate the energy transition by enabling clients to generate zero-emission fuels efficiently. InterContinental Energy's commitment to sustainable energy solutions positions it as a significant player in the renewable energy sector.

Ather Energy

Venture Round in 2023
Ather Energy is an Indian manufacturer of electric scooters and an electric vehicle charging network known as AtherGrid. The company aims to create a comprehensive ecosystem for electric mobility in India, focusing on indigenous design and local manufacturing. Its flagship product, the Ather 450X, is recognized for its powerful performance, long-range, and advanced features such as a touchscreen dashboard and connected mobile apps. The Ather 450 Plus offers similar innovations with a balance of performance and affordability. Both models are equipped with a smart dashboard that provides navigation, ride statistics, and features accessible via mobile applications, allowing users to monitor their vehicle's performance and locate charging points. Ather Energy's vehicles are powered by lithium-ion battery packs with integrated digital battery management systems, promoting a safer and cleaner mode of transportation.

Northvolt

Convertible Note in 2023
Northvolt AB, founded in 2016 and headquartered in Stockholm, Sweden, specializes in the manufacturing of sustainable lithium-ion batteries primarily for the renewable energy and transportation sectors. The company designs and produces a range of battery solutions, including cells, custom cells, and complete battery systems, tailored to meet specific requirements in terms of chemistry and form factor. Northvolt's commitment to sustainability is evident in its eco-friendly manufacturing processes, which ensure a minimal carbon footprint and incorporate advanced recycling technologies. By focusing on the development of high-quality, sustainable battery cells and systems, Northvolt aims to support the electrification of various markets, including automotive, grid storage, industrial applications, and micromobility, facilitating the transition away from fossil fuels towards cleaner energy sources.

General Fusion

Series F in 2023
General Fusion Inc., established in 2002 and headquartered in Burnaby, Canada, specializes in developing commercial Magnetized Target Fusion (MTF), a hybrid fusion method combining magnetic confinement and inertial confinement principles. The company focuses on creating utility-scale fusion power using its patent-pending MTF concept, which has the potential to provide clean, safe, and economical energy. General Fusion develops key subsystems such as plasma injectors, acoustic drivers, and liquid metal vortex compression tests to advance its MTF technology. Backed by a global syndicate of investors, industry leaders, and technology pioneers, General Fusion aims to demonstrate and commercialize its innovative fusion power plants by the end of the decade.

TagEnergy

Debt Financing in 2023
TagEnergy is a clean energy enterprise for a new cycle in the renewable energy industry. It was formed in 2019 to accelerate the energy transition by developing and investing in competitive and clean power stations in order to compete directly and actively on the energy markets. Renewables have now become the main source of energy able to provide both social responsibility and price efficiency, and we are delivering this in the countries where we have established our activity. ​TagEnergy is operated by a highly-experienced team of manager-shareholders. Its operations span the renewables value chain, from development, financing, construction and asset management of wind, solar and storage projects, to commercialisation of its competitive energy. TagEnergy has developed a portfolio of 2.7GW in the UK, Australia, Spain, Portugal and France, and intends to drive the pace of transition through projects that deliver reliable energy affordably, and at scale.

Greenko Group

Private Equity Round in 2023
Greenko Group is a prominent independent power producer in India, dedicated to developing a diverse portfolio of clean energy assets to address the country's growing energy demands. Founded in 2006 and headquartered in Hyderabad, the company focuses on renewable sources such as wind, solar, hydropower, natural gas, and biomass. Greenko aims to expand its operational capacity through the development of new projects while maintaining a commitment to grid parity and energy security. The Group currently manages over 120 MW of contracted capacity, which includes six hydro and six biomass plants, in addition to nearly 350 MW of licenses in the development pipeline. By prioritizing sustainability, Greenko Group plays a crucial role in advancing India's transition to clean energy.

NanoGraf

Series B in 2023
NanoGraf Corporation is a materials science company based in Chicago, Illinois, focused on the development and commercialization of advanced materials for the energy storage market. Founded in 2012, the company specializes in silicon-graphene electrode materials for lithium-ion batteries. NanoGraf has created a high energy density silicon-based anode material that presents a promising alternative to traditional graphitic-based anodes. This innovative technology has applications across various sectors, from consumer electronics to electric vehicles. The company's materials are designed to enhance battery capacity and reduce charging times, enabling the production of lithium-ion batteries through a cost-effective, chemistry-based manufacturing process.

ABB E-Mobility

Venture Round in 2023
ABB E-Mobility is a division of ABB that specializes in electric vehicle charging solutions designed for both private and public spaces. The company develops and operates a network of charging stations equipped with advanced technology, including features such as remote diagnostics, infrastructure management, and software updates. In addition to providing reliable charging points, ABB E-Mobility offers services that facilitate contactless payments via credit cards or mobile phones, ensuring a seamless user experience. This focus on innovative and accessible charging infrastructure positions ABB E-Mobility as a key player in the growing electric vehicle market.

Stegra

Series B in 2022
Stegra operates a state-of-the-art steel production plant focused on decarbonizing the European steel industry. The company's facility is designed as a fully integrated, digitalized, and automated greenfield site that combines raw materials, renewable energy, local expertise, and artificial intelligence. By replacing CO2-intensive coal with green hydrogen, Stegra enables the production of fossil-free steel at competitive costs. The plant includes a large-scale green hydrogen production unit, which is integral to its steel manufacturing process.

Form Energy

Series E in 2022
Form Energy, Inc. is a company focused on developing long-duration energy storage systems aimed at transforming the electric grid by enabling the reliable use of renewable energy sources such as wind and solar. Established in 2017 and based in Somerville, Massachusetts, Form Energy is known for its innovative iron-air battery technology, which allows for the storage of electricity over extended periods, making renewable energy more dispatchable throughout the year. This technology not only helps to replace conventional fossil fuel-based generation but also enhances transmission capacity without the need for new infrastructure. By facilitating deep decarbonization of the electric system, Form Energy plays a significant role in reducing carbon emissions and promoting a sustainable energy future.

Euler Motors

Series C in 2022
Euler Motors is an automotive technology startup specializing in commercial electric vehicles, particularly electric three-wheelers designed for intra-city goods transportation. The company aims to accelerate India's transition to sustainable mobility by addressing the challenges of last-mile logistics for e-commerce and third-party logistics providers. By providing a comprehensive "mobility as a service" solution, Euler Motors seeks to facilitate the mass-market adoption of electric vehicles, thereby contributing to the Electric Vehicle Revolution in India. Their vehicles not only promise lower maintenance costs but also help reduce the overall cost of fleet operations for users.

Stegra

Series B in 2022
Stegra operates a state-of-the-art steel production plant focused on decarbonizing the European steel industry. The company's facility is designed as a fully integrated, digitalized, and automated greenfield site that combines raw materials, renewable energy, local expertise, and artificial intelligence. By replacing CO2-intensive coal with green hydrogen, Stegra enables the production of fossil-free steel at competitive costs. The plant includes a large-scale green hydrogen production unit, which is integral to its steel manufacturing process.

Eneus Energy

Private Equity Round in 2022
Eneus Energy Limited, founded in 2013 and based in Edinburgh, United Kingdom, specializes in the production of green ammonia using renewable electricity. The company focuses on integrating existing, proven industrial technologies to create ammonia fuel solely from water, air, and renewable energy sources. By doing so, Eneus Energy contributes to the development of a green hydrogen economy, offering customers a cost-effective solution for zero-carbon transport, power, and energy storage. Through its innovative approach, the company aims to support sustainable energy practices while advancing the transition to cleaner energy alternatives.

Powin

Private Equity Round in 2022
Powin Energy specializes in the manufacturing and development of energy storage technologies applicable across various sectors, including stationary, transportation, and portable power applications. The company's product offerings include scalable energy storage systems designed for utilities and numerous industries such as telecommunications and emergency services. Additionally, Powin Energy produces power supply units catered to electric vehicles, scooters, e-bicycles, vehicle power stations, uninterruptible power supplies (UPS), and other portable power solutions. With a foundation rooted in the extensive capabilities of the Powin Corporation, Powin Energy stands out as a leader in the energy industry, providing hardware and software solutions that facilitate the integration of renewable energy and enhance grid reliability.

zolar

Series C in 2022
ZOLAR GmbH, founded in 2016 and based in Berlin, Germany, specializes in designing and providing customized residential solar and battery systems through its online platform. The company enables homeowners to tailor photovoltaic systems to their specific needs while receiving guidance from solar energy experts. ZOLAR's extensive network of local partners handles the on-site installation, ensuring a seamless transition to solar energy. Employing around 200 staff, ZOLAR aims to empower households by making them more energy-independent and allowing them to generate their own electricity. The company's approach integrates energy generation, storage, and smart mobility solutions, promoting sustainability and enabling customers to reduce their carbon footprint. Through its innovative services, ZOLAR contributes to climate protection efforts by encouraging the adoption of renewable energy solutions in residential settings.

General Fusion

Series E in 2021
General Fusion Inc., established in 2002 and headquartered in Burnaby, Canada, specializes in developing commercial Magnetized Target Fusion (MTF), a hybrid fusion method combining magnetic confinement and inertial confinement principles. The company focuses on creating utility-scale fusion power using its patent-pending MTF concept, which has the potential to provide clean, safe, and economical energy. General Fusion develops key subsystems such as plasma injectors, acoustic drivers, and liquid metal vortex compression tests to advance its MTF technology. Backed by a global syndicate of investors, industry leaders, and technology pioneers, General Fusion aims to demonstrate and commercialize its innovative fusion power plants by the end of the decade.

Duke Energy Indiana

Private Equity Round in 2021
Duke Energy Indiana provides utility services. It generates electricity from coal, nuclear, natural gas, oil, and renewable resources, as well as renders outdoor lighting, installation, operation, and maintenance services.

General Fusion

Series E in 2020
General Fusion Inc., established in 2002 and headquartered in Burnaby, Canada, specializes in developing commercial Magnetized Target Fusion (MTF), a hybrid fusion method combining magnetic confinement and inertial confinement principles. The company focuses on creating utility-scale fusion power using its patent-pending MTF concept, which has the potential to provide clean, safe, and economical energy. General Fusion develops key subsystems such as plasma injectors, acoustic drivers, and liquid metal vortex compression tests to advance its MTF technology. Backed by a global syndicate of investors, industry leaders, and technology pioneers, General Fusion aims to demonstrate and commercialize its innovative fusion power plants by the end of the decade.

Abu Dhabi National Oil Company

Funding Round in 2020
The Abu Dhabi National Oil Company (ADNOC) is a major player in the oil and gas industry, involved in a wide range of activities including exploration, production, refining, and distribution of oil and gas products. The company has established numerous subsidiaries and integrated operations across various sectors such as chemicals, petrochemicals, and maritime transportation. ADNOC Drilling Company, a key subsidiary, specializes in providing drilling services and associated marine equipment, along with the leasing of onshore and offshore drilling rigs. Its operational segments include Onshore, Offshore Jack-up, Offshore Island, and OilField Service, with the Onshore segment generating the highest revenue. Through its comprehensive approach, ADNOC aims to enhance efficiency and sustainability in the energy sector while meeting global demand.

Greenko Group

Debt Financing in 2019
Greenko Group is a prominent independent power producer in India, dedicated to developing a diverse portfolio of clean energy assets to address the country's growing energy demands. Founded in 2006 and headquartered in Hyderabad, the company focuses on renewable sources such as wind, solar, hydropower, natural gas, and biomass. Greenko aims to expand its operational capacity through the development of new projects while maintaining a commitment to grid parity and energy security. The Group currently manages over 120 MW of contracted capacity, which includes six hydro and six biomass plants, in addition to nearly 350 MW of licenses in the development pipeline. By prioritizing sustainability, Greenko Group plays a crucial role in advancing India's transition to clean energy.

Greenko Group

Private Equity Round in 2019
Greenko Group is a prominent independent power producer in India, dedicated to developing a diverse portfolio of clean energy assets to address the country's growing energy demands. Founded in 2006 and headquartered in Hyderabad, the company focuses on renewable sources such as wind, solar, hydropower, natural gas, and biomass. Greenko aims to expand its operational capacity through the development of new projects while maintaining a commitment to grid parity and energy security. The Group currently manages over 120 MW of contracted capacity, which includes six hydro and six biomass plants, in addition to nearly 350 MW of licenses in the development pipeline. By prioritizing sustainability, Greenko Group plays a crucial role in advancing India's transition to clean energy.

Greenko Group

Private Equity Round in 2019
Greenko Group is a prominent independent power producer in India, dedicated to developing a diverse portfolio of clean energy assets to address the country's growing energy demands. Founded in 2006 and headquartered in Hyderabad, the company focuses on renewable sources such as wind, solar, hydropower, natural gas, and biomass. Greenko aims to expand its operational capacity through the development of new projects while maintaining a commitment to grid parity and energy security. The Group currently manages over 120 MW of contracted capacity, which includes six hydro and six biomass plants, in addition to nearly 350 MW of licenses in the development pipeline. By prioritizing sustainability, Greenko Group plays a crucial role in advancing India's transition to clean energy.

Greenko Group

Private Equity Round in 2018
Greenko Group is a prominent independent power producer in India, dedicated to developing a diverse portfolio of clean energy assets to address the country's growing energy demands. Founded in 2006 and headquartered in Hyderabad, the company focuses on renewable sources such as wind, solar, hydropower, natural gas, and biomass. Greenko aims to expand its operational capacity through the development of new projects while maintaining a commitment to grid parity and energy security. The Group currently manages over 120 MW of contracted capacity, which includes six hydro and six biomass plants, in addition to nearly 350 MW of licenses in the development pipeline. By prioritizing sustainability, Greenko Group plays a crucial role in advancing India's transition to clean energy.

Tristar Transport

Venture Round in 2017
Tristar Transport is a Dubai-based company specializing in liquid logistics solutions for the petroleum and chemical industries. The firm provides comprehensive services that include the transportation and storage of hydrocarbons, lubricants, chemicals, and liquid gases. Tristar Transport operates dedicated facilities for managing road transport and warehousing, as well as fuel farms and turnkey fuel supply operations. Additionally, the company offers into-plane fuel services and is involved in ship owning and chartering for clean petroleum products. With a focus on both regional and global markets, Tristar Transport aims to meet the diverse logistical needs of its clients in the energy sector.

Greenko Group

Private Equity Round in 2017
Greenko Group is a prominent independent power producer in India, dedicated to developing a diverse portfolio of clean energy assets to address the country's growing energy demands. Founded in 2006 and headquartered in Hyderabad, the company focuses on renewable sources such as wind, solar, hydropower, natural gas, and biomass. Greenko aims to expand its operational capacity through the development of new projects while maintaining a commitment to grid parity and energy security. The Group currently manages over 120 MW of contracted capacity, which includes six hydro and six biomass plants, in addition to nearly 350 MW of licenses in the development pipeline. By prioritizing sustainability, Greenko Group plays a crucial role in advancing India's transition to clean energy.

Greenko Group

Private Equity Round in 2016
Greenko Group is a prominent independent power producer in India, dedicated to developing a diverse portfolio of clean energy assets to address the country's growing energy demands. Founded in 2006 and headquartered in Hyderabad, the company focuses on renewable sources such as wind, solar, hydropower, natural gas, and biomass. Greenko aims to expand its operational capacity through the development of new projects while maintaining a commitment to grid parity and energy security. The Group currently manages over 120 MW of contracted capacity, which includes six hydro and six biomass plants, in addition to nearly 350 MW of licenses in the development pipeline. By prioritizing sustainability, Greenko Group plays a crucial role in advancing India's transition to clean energy.

Greenko Group

Post in 2013
Greenko Group is a prominent independent power producer in India, dedicated to developing a diverse portfolio of clean energy assets to address the country's growing energy demands. Founded in 2006 and headquartered in Hyderabad, the company focuses on renewable sources such as wind, solar, hydropower, natural gas, and biomass. Greenko aims to expand its operational capacity through the development of new projects while maintaining a commitment to grid parity and energy security. The Group currently manages over 120 MW of contracted capacity, which includes six hydro and six biomass plants, in addition to nearly 350 MW of licenses in the development pipeline. By prioritizing sustainability, Greenko Group plays a crucial role in advancing India's transition to clean energy.

Moser Baer Solar

Venture Round in 2007
Established in 1983 in New Delhi, Moser Baer India Ltd (MBIL) is one of India's leading technology companies. MBIL has successfully developed cutting edge technologies to become the world's second largest manufacturer of optical storage media. Moser Baer Solar Limited (MBSL) and Moser Baer Photo Voltaic Ltd (MBPV) are subsidiaries of MBIL involved in Solar business globally including India. Through both these companies Moser Baer serves customers across the solar value chain through world class products and services. In a short span of time since inception in 2005-2007 Moser Baer brand has taken a dominating position in Solar EPC Services and Solar PV modules in India and the world.
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