REG - Riverstone Energy Ld - REL Leads Infinitum’s $80M Series D Round

Riverstone EnergyAnnouncement

18/05/2022 07:00

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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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.infinitumelectric.com&esheet=52513394&newsitemid=20211021005689&lan=en-US&anchor=www.infinitumelectric.com&index=4&md5=ec1cef9533f06f91ca9210ccdaf68403)
.

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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