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Why Temasek and Ontario Teachers’ are Betting on Smart Power Storage?

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With more renewable energy developments expanding across North America and Europe and advances in digital innovation, there is growing demand of storage technologies.

Asian sovereign funds, like GIC Private Limited and Temasek Holdings, and Canadian pensions such as PSP Investments, have been trying to identify cutting-edge technology companies in the energy storage space with solutions that can be scaled to market. Millbrae, California-based intelligent power storage provider Stem Inc. announced the closing of a US$ 80 million Series D round led by growth equity firm Activate Capital, which specializes in North American companies in the energy, transportation, and industrial technology industry. Activate Capital is based in San Francisco and one of its partners is Anup Jacob, a former Associate Director at Mubadala and former Partner at Masdar. Jacob also worked at the Virgin Green Fund, which was backed by Richard Branson’s Virgin Group.

The funding round, Stem’s tenth so far, also saw participation from the Ontario Teacher’s Pension Plan (OTPP) and Singapore’s Temasek Holdings, although exact figures remain confidential.

The AI Shtick in Smart Power

Stem Inc. touts the usage of artificial intelligence (AI) to build out and operate digitally-connected storage networks that aim to optimize the timing of energy use and help customers automate cost savings. Since arriving on the scene in 2009, Stem Inc. counts among its clients more than 30 Fortune 500 companies and eight utilities providers across North America and Tokyo Electric Power in Japan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Discloses Investment in Khairat Bahrain

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Bahrain Mumtalakat Holding Company disclosed an investment in Sudan called Khairat Bahrain. This is an agricultural investment in Sudan. The food and agriculture sector is key investment sector for many Gulf-based state investors. Khairat Bahrain is located in the world’s richest expanse of groundwater (the Nubian Sandstone Basin) occupying an area of approximately 100,000 feddans (400 square kilometers). The Nubian Sandstone Aquifer System is the world’s largest known fossil water aquifer system.

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Temasek Acquires Cybersecurity Firm Sygnia

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Singapore’s Temasek Holdings agreed to acquire Sygnia, Inc., an Israeli cybersecurity technology and services provider. Unverified estimates of the deal amount are around US$ 250 million. Sygnia runs out of Tel Aviv, but has an office in New York. Sygnia assists companies respond to cyber threats.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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