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🌊 Hydropower Rebounds, Up 3%. $230M+ VC Funding.

Impact Capital Markets #82 looks at our Hydropower stock index, major impact deals, M&A, and upcoming economic releases.

Sannu 🍁

πŸ“ˆ Today's Global Economic Update: France's GDP data released today revealed that in the first quarter of 2024, the country's GDP expanded by 1.10%, its strongest pace in three quarters.

πŸ€– Deal of the Day: Blaize, a California-based AI company, raised $106M to consolidate its market position in automotive hardware and software.

What's New?

🌊 Hydropower.
Hydropower index rebounds up 3%
πŸ’° Funding. AI solutions, molecular diagnostics, electronic materials + more
πŸ’Ό M&A. Biopharmaceutical, biosafety, and life science
πŸ“… Economics. US Fed interest rate, china inflation, balance of trade + more

🌊 Hydropower Index Rebounds, Up 3%

HolonIQ's Hydropower index is up 3% for the past 3 months, rebounding from a steep 20% drop in late 2023. This growth is driven by rising demand for renewable energy sources and increasing government support. Notably, Nepal recently hosted an investment summit to attract foreign investment, particularly for hydropower projects. Micro-hydropower projects, sought after for their ease of maintenance and replacement, play a crucial role in meeting environmental goals.

The International Energy Agency projects hydropower to remain the largest renewable electric source by 2028, with an anticipated 4% annual growth rate from 2023 to 2030, reaching approximately 5,500 TWh per year. These developments highlight a promising future for the hydropower sector, reflected in key stocks such as China Three Gorges Renewables ($19B MCap), Meridian Energy ($9B MCap), and China Yangtze Power ($8.6B MCap), which saw growth rates of 6%, 4%, and 4% respectively in the last quarter. However, international water management conflicts and uncertainties regarding climate change's impact on local hydrology pose potential challenges to hydropower plant market growth. Recognizing these risks is essential for safeguarding hydropower's enduring contribution to sustainable energy.

πŸ’° Funding

πŸ€– Blaize, a California-based AI-based edge computing solutions provider, raised $106M to consolidate its market position in automotive hardware and software.

πŸ”¬ Variantyx, a Massachusetts-based molecular diagnostics company, raised $36M for commercial expansion.

πŸ’» Thintronics, a California-based electronic materials startup, raised a $23M Series A from Maverick Capital and Translink Capital to help bring a new type of insulating material to the market.

πŸ’Š 4P-Pharma, a French clinical-stage company, raised $16M, to accelerate its drug trials.

πŸ’° Backflip, a Texas-based fintech platform, raised a $15M Series A from FirstMark Capital to scale its operations.

πŸ’Ό M&A

πŸ’Š Deciphera Pharmaceuticals, a Massachusetts-based biopharmaceutical company, has entered into a definitive merger agreement with ONO Pharmaceuticals, a Massachusetts-based pharmaceutical company.

πŸ›‘οΈ Deloitte, a UK-based business consulting company, acquired Gryphon Scientific, a Maryland-based AI-powered biosafety and security firm.

🧬 Calibre Scientific, a California-based life science and diagnostic products producer, acquired Camlab Limited, a UK-based laboratory equipment provider.

πŸ“… Economic Calendar

US Fed Interest Rate, China Inflation, Balance of Trade + More

Wednesday, May 1st 2024

πŸ‡ΊπŸ‡Έ US ISM Manufacturing PMI, April
πŸ‡ΊπŸ‡Έ US Job Openings, March
πŸ‡ΊπŸ‡Έ US Fed Interest Decision
πŸ‡¦πŸ‡Ί Australia Balance of Trade Data, March

Thursday, May 2nd 2024

πŸ‡¨πŸ‡¦ Canada Balance of Trade Data, March
πŸ‡―πŸ‡΅ Japan Consumer Confidence Index, April

Friday, May 3rd 2024

πŸ‡ΊπŸ‡Έ US Employment Data, April
πŸ‡ΊπŸ‡Έ US ISM Services PMI, April

Tuesday, May 7th 2024

πŸ‡¦πŸ‡Ί Australia RBA Interest Decision
πŸ‡©πŸ‡ͺ Germany Balance of Trade Data, March
πŸ‡¨πŸ‡¦ Canada Ivey PMI s.a, April

Wednesday, May 8th 2024

πŸ‡¨πŸ‡³ China Balance of Trade Data, April

Thursday, May 9th 2024

πŸ‡¬πŸ‡§ UK BoE Interest Decision

Friday, May 10th 2024

πŸ‡¬πŸ‡§ UK GDP Data, Q1
πŸ‡¨πŸ‡¦ Canada Employment Data, April
πŸ‡ΊπŸ‡Έ US Michigan Consumer Sentiment (Preliminary), May
πŸ‡¨πŸ‡³ China Inflation Data, April

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