Only six companies filed to for IPOs in the last two weeks, according to Renaissance Capital, and four of them are in renewable energy. This follows a deluge of filings from the end of August to the middle of September. In the first half of September alone, 11 companies filed S-1s. Currently, there are 210 companies in the US IPO pipeline, and they are trying to raise $53 bn in capital.
Most of the filling action came within the last 90 days – 68 per cent of the pipeline. Renaissance Capital observes: ‘This suggests that we could see pockets of activity once the market is able to find some stability.’
Four of the companies in the US IPO pipeline are in the renewable energy sector, and they filed in the second half of the month – bringing the cleantech total to 13. Renaissance Capital notes that they are ‘relatively risky’ and ‘will serve as a test for investor appetite’.
The four renewable energy companies that filed in the second half of September are: Fulcrum Bioenergy,Elevance Renewable Science, Mascoma and Trellis Earth Products. Also in the pipeline are FTS International and Platinum Energy Services (both in hydraulic fracturing), which hope to raise $1.15 bn and $300 mn, respectively.
Source: Renaissance Capital
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