Funding round
ACES Delta Growth
Reported as "Growth Equity"
ACES Delta, which works in green hydrogen production and storage in Holladay, raised $650M in a Growth round announced on 13 Jun 2022. 5 firms took part.
$650M
Amount raised
Not disclosed
Post-money valuation
5
Investors
no lead named
Valuation
What this round says about the price
ACES Delta did not disclose a valuation in this round. It is ACES Delta's first venture round on record, 3 years after it was founded in 2019. No later venture round is on record for ACES Delta.
ACES Delta's funding rounds
This is the only venture round on record for ACES Delta.
- Growth this round 13 Jun 2022 $650M
Investors
Who put money in
5 firms took part; no lead investor was named.
Investors
- Alberta Investment Management Corporation (AIMCo) new investor
- GIC backs 98 venture-backed companies new investor
- Manulife Financial Corporation (Manulife) new investor
- Ontario Teachers’ Pension Plan backs 35 venture-backed companies new investor
- new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations.
- Scaling operations
Comparable rounds
How it compares
18 Growth rounds in Chemicals within a year either side disclosed an amount; the median was $79M, and this round was 8.2 times the median. The closest in time, other companies' Growth rounds in Chemicals:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| EnergyX Chemicals | 1 Jul 2022 | $450M | not disclosed | not named |
| Chemicals | 6 Apr 2022 | $204M | not disclosed | Repsol |
| Chemicals | 12 Aug 2022 | $109M | not disclosed | not named |
| Chemicals | 4 Apr 2022 | undisclosed | not disclosed | not named |
| Chemicals | 17 Feb 2022 | $227M | not disclosed | Hy24 |
| Chemicals | 1 Feb 2022 | $62M | not disclosed | Baker Hughes |
| Chemicals | 8 Nov 2022 | $117M | not disclosed | Mercuria |
| Chemicals | 3 Nov 2022 | $38M | not disclosed | MVolution Partners |
Sources
Where this comes from
Reported by 5 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did ACES Delta raise in its Growth round?
ACES Delta raised $650M in its Growth round, announced in Jun 2022.
Which investors took part in ACES Delta's Growth round?
Alberta Investment Management Corporation (AIMCo), GIC, Manulife Financial Corporation (Manulife), Ontario Teachers’ Pension Plan and Haddington Ventures.
What was ACES Delta's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Chemicals?
18 Growth rounds in Chemicals within a year either side disclosed an amount; the median was $79M, and this round was 8.2 times the median.