Firm Advises Turntide Technologies on $80 Million Fundraise
- Client Highlights
On June 15, 2022, Turntide Technologies announced that it has secured $80 million in equity funding, valuing the company at over $1 billion. Turntide develops electrification and sustainable operations technologies, which include energy-efficient motors, dramatically reducing carbon emissions and improving energy savings for building operations, agriculture, equipment, and commercial and industrial vehicles. Wilson Sonsini Goodrich & Rosati advised Turntide on the transaction.
The financing included new investments from OGCI Climate Investments and SDCL Energy Efficiency Income Trust, with follow-on investments from Fifth Wall and Meson Capital’s Captain Planet LP fund. The funding brings the total amount of capital raised by Turntide to $485 million. The company is also backed by a global coalition of climate-focused investors, including Amazon Climate Pledge Fund, JLL, BMW i Ventures, Breakthrough Energy Ventures, Canada Pension Plan Investment Board, Robert Downey Jr.’s FootPrint Coalition, and Keyframe Capital.
The Wilson Sonsini team that advised Turntide on the financing includes Mark Baudler, Jonathan Chan, Melinda Douglass, Zack Lenox, Nicole Wise, and Conor Cannon.
For more information, please see Turntide’s press release.