EQT, a private equity firm, announced the acquisition of a battery storage developer and operator, ju:niz Energy, from its founder, Dr. Franz Hauk. This acquisition was the first investment from the company’s EQT Transition Infrastructure strategy, which is expected to provide capital and industrial, technological, and sustainability expertise to scale businesses per the company.
ju:niz Energy specializes in developing and operating large-scale battery storage systems. The company’s value chain spans project development — from site acquisition to grid connection and project management.
EQT invests in infrastructure and private capital climate-related opportunities from early-stage ventures through scale-up to large buyouts. The company has helped 49 portfolio companies, corresponding to 57% of its invested equity, validate near-term science targets.
Jan Vesely, Partner and Head of EQT Transition Infrastructure said, “The pace of technological innovation and a steady reduction in costs, coupled with digitalization and the evolution of AI, continue to drive the need for a transformation of our energy systems and the economy. Against this backdrop, EQT Transition Infrastructure will help emerging but proven solutions and businesses scale to create the next generation of sustainable energy infrastructure.”
The transaction is subject to customary conditions and approvals. EQT was advised by UBS (financial), Gibson Dunn & Crutcher, Norton Rose Fulbright (legal), and McKinsey (commercial).
According to Mercom’s 9M and Q3 2024 Funding and M&A report for Energy Storage and Smart Grid, in 9M 2024, a total of 18 Energy Storage M&A transactions were announced in 9M 2024, up from 11 M&A transactions in 9M 2023.
In September, Return, an energy transition investment and development platform, acquired a majority stake in J&P Batterie Projekte, an energy storage system developer, through a €50 million (~$56 million) investment and commitment.
