Recent M&A Activity:

• November 8, 2021: Kontak Hydrogen Storage reached a definitive agreement to be acquired by Hydrofuel Canada for $3 million on November 8, 2021. The company is a developer of a liquid hydrogen storage technology intended to offer a full range of stationery and transportation applications. The company's platform comprises proprietary catalysts and precise reactor temperature that allows hydrogen to be removed from the carrier without damage and to ensure hundreds of cycles at low initial costs, which produces steam methane reforming, biomass conversion, and wind and solar electrolysis, enabling users to access the technology at much lower hydrogen costs with easy installation and relocation facilities.
• November 9, 2021: Sunpro Solar, provider of rooftop solar systems, reached a definitive agreement to be acquired by ADT Security Services (NYS: ADT) for an estimated $825 million on November 9, 2021. The transaction will enable ADT Security Services to expand its consumer offerings, leading to an increase in its total addressable market and creating an opportunity for substantial cross-selling between security and solar customers as well as opportunities to create additional, mutually beneficial relationships to expand its distribution network.
• November 11, 2021: Soligent Distribution, distributor of solar energy systems, reached an agreement to be acquired by City Electric Supply from ITOCHU International, a subsidiary of ITOCHU (TKS: 8001), for an undisclosed amount on November 11, 2021. This agreement enables CES to focus on delivering more innovative solutions to the solar energy market.
• November 2021: Project Canary merged with Independent Energy Standards for an undisclosed amount in approximately November 2021. The new joint company, International Environmental Standards, will combine continuous emissions monitoring technology with TrustWell certification to create the best-in-class provider of independent ESG performance data.

*Source: PitchBook

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