๐Ÿ’จ Wind Energy Stocks Drop 15%YoY. $140M more VC

Impact Capital Markets #16 looks at HolonIQ's Wind Stock Index, major impact deals and acquisitions, and upcoming economic releases.

Today's Topics

  • ๐Ÿƒ Wind. Wind Down 15% YOY, Following a Volatile Year
  • ๐Ÿ’ฐ Funding. $140M+ Funding in Regtech, LegalTech, Smart Contracts, Biotech & More
  • ๐Ÿ’ผ Acquisitions. TraceGains acquires NutriCalc
  • ๐Ÿ“… Economics. Major Interest Rate Decisions, Euro Area GDP & Inflation Releases + More

For unlimited access to more deals and economic updates, request a demo.

๐Ÿƒ Wind Down 15% YOY, Following a Volatile Year


HolonIQ Wind (HIQWIND).  Indexed returns (returns on the index relative to the level on January 29th 2023) declined significantly in 2H 2023 due to the comparatively elevated setup costs associated with wind farms in contrast to solar farms. By the second half of the year, most economies were plagued by high interest rates, rendering conditions unsuitable for projects with high capital costs. Year-on-Year returns on the Wind Index are down 15%. 

In 2023, the leading wind turbine manufacturer, Vestas Wind Systems A/S (Market Cap: US$ 29B), announced that their new prototype V236 turbine achieved a global milestone by generating the highest power output within a 24-hour period.This marked the culmination of several years of efforts by the Danish company in creating the world's largest wind turbine.

However, towards the end of 2023, significant negative developments were observed as well, Including from ร˜rsted (Market Cap: US$ 24B), the global-leader in offshore wind power, which canceled two noteworthy offshore wind energy projects due to increasing interest rates and inflation, coupled with concerns about potential impacts on marine life and tourism.

Nevertheless, the positive outlook for the broader renewable energy sector bodes well for wind energy companies as well. The industry's trajectory is being shaped by technological progress, including modular wind systems, AI-driven predictive maintenance, the deployment of floating wind turbines, and the expansion of offshore wind energy.

๐Ÿ’ฐ Funding

๐Ÿ” Thentia, an Oklahama-based Regulatory technology company, raised a $38M series B from First Ascent Ventures to extend operations and expand globally.

๐Ÿ“œ Proof Technology, Inc., a Denver, CO-based legal tech platform, raised a $30.4M Series B from Long Ridge Equity Partners to drive growth, e-filing expansion, integrate with legal software and embrace AI efficiency.

๐Ÿš€ Axiom, a New York-based startup that uses crypto proofs for smart contracts, raised a $20M Series A from Standard Crypto and Paradigm to expand its team, speed up its core smart contract platform development.

๐Ÿงช PRISM BioLab, a Tokyo-based discovery and development biotechnology company raised a $10.3M Series C from Eli Lilly and Company and Santec Holdings Corporation to expand biology and screening capacity and to advance its PPI inhibitor pipeline.

โ™ป๏ธ GreenSpark, a New York-based metal recycling software platform, raised $9.4M from Infinity Partners and Third Prime to grow its products, team, and boost profitability for metal recyclers.

๐Ÿ’ป WealthKernel, a London-based digital investment solutions provider, raised a $7.6M Series A from ETFS Capital to expand across the European market.

๐ŸŒฑ Chunk Foods, plant-based space company from New York, raised a $7.5M Seed from Cheyenne Ventures to solidify its position in plant-based whole cuts.

๐Ÿก Digs, a Vancouver-based AI collaboration platform for home builders & homeowners, raised a $7M Seed from Oregon Venture Fund and Legacy Capital Ventures to speed up its marketplace rollout and launch.

๐Ÿค– RagaAI, a California-based AI testing tech company, raised $4.7M from pi Ventures to expand operations and its Research and development sector.

๐Ÿ”— TextQL, a California-based AI data connector, raised a $4.1M Pre-seed from Neo and DCM to expand its team with a focus on hiring software engineers and deployed engineers.

๐ŸŒฑ Cnergreen, a Calgary-based hydrocarbon company, raised a $2M Seed from Rhapsody Venture Partners to speed up field trials and commercialization of its project focused on improving CO2 enhanced oil recovery.

๐Ÿ’ผ Acquisitions

๐Ÿ“Š TraceGains, a Colorado-based compliance software innovator acquired NutriCalc, a UK-based provider of nutritional calculation software.

๐Ÿ“… Economic Calendar

Major Interest Rate Decisions, Euro Area GDP & Inflation Releases + More

Tuesday January 30th 2024

๐Ÿ‡ซ๐Ÿ‡ท France - GDP Data, Q4
๐Ÿ‡ฎ๐Ÿ‡น Italy - GDP Data, Q4
๐Ÿ‡ช๐Ÿ‡ฆ Euro Area - GDP Data, Q4
๐Ÿ‡บ๐Ÿ‡ธ US - Employment Data, December

Wednesday January 31st 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia - Inflation Data, Q4
๐Ÿ‡จ๐Ÿ‡ณ Canada - NBS Manufacturing PMI, January
๐Ÿ‡ฏ๐Ÿ‡ต Japan - Consumer Confidence, January
๐Ÿ‡ซ๐Ÿ‡ท France - Inflation Data, January
๐Ÿ‡ฉ๐Ÿ‡ช Germany - GDP Data, Q4
๐Ÿ‡ฉ๐Ÿ‡ช Germany - Inflation Data, January

Thursday February 1st 2024

๐Ÿ‡บ๐Ÿ‡ธ US - Fed Interest Rate Decision
๐Ÿ‡บ๐Ÿ‡ธ US - Fed Press Conference
๐Ÿ‡จ๐Ÿ‡ณ Canada - Caixin Manufacturing PMI, January
๐Ÿ‡ช๐Ÿ‡ฆ Euro Area - Inflation Data, January
๐Ÿ‡ฎ๐Ÿ‡น Italy - Inflation Data, January
๐Ÿ‡ฌ๐Ÿ‡ง UK - BoE Interest Rate Decision
๐Ÿ‡บ๐Ÿ‡ธ US - ISM Manufacturing PMI, January

Friday February 2nd 2024

๐Ÿ‡บ๐Ÿ‡ธ US - Non Farm Payrolls, January
๐Ÿ‡บ๐Ÿ‡ธ US - Employment Data January

Monday February 5th 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia - Balance of Trade, December
๐Ÿ‡ฉ๐Ÿ‡ช Germany - Balance of Trade, December
๐Ÿ‡บ๐Ÿ‡ธ US - SM Services PMI, January

Tuesday February 6th 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia - RBA Interest Rate Decision
๐Ÿ‡จ๐Ÿ‡ฆ Canada - Ivey PMI s.a , January

Wednesday February 7th 2024

๐Ÿ‡จ๐Ÿ‡ฆ Canada - Balance of Trade , December

Thursday February 8th 2024

๐Ÿ‡จ๐Ÿ‡ณ China - Inflation Data, January

Friday February 9th 2024

๐Ÿ‡จ๐Ÿ‡ฆ Canada - Unemployment Data, January


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