References

We commit our people, ideas and efforts to our clients.

Explore the clients who haven gotten ahead with Apricum

We are proud of the successful fundraises, M&A deals and other transactions in the cleantech space that we have guided to success – with over 250 completed projects and counting. Our deep financial expertise, extensive high-level network, tailored and innovative approach, real-time insights and independent advice has made a broad range of transactions possible.

selected corporate transactions

Mercuria

Acquisition

EUR not disclosed

CWP Global

2021

HV Capital

Strategic Advisor

EUR 100M

Enpal

2021

ESDEC

Strategic Advisor

Equity story

Bank consortium

2021

Reactive Technologies

Series C Fundraise

USD 15M

Investors: BGF,
Breakthrough Energy Ventures, Eaton

2021

Invinity

Strategic investment, JDC and share option

USD 5M (JDA)

Siemens Gamesa

2019, 2021

Meyer Burger

Debt raising

EUR 185M

Bank consortium

2021

Upside Energy Limited

Sale of majority

GBP not disclosed

Investor: Octopus Energy Group (UK)

2020

Meyer Burger

Rights offering and private placement

CHF 165M

Strategic advisor

2020

eternal sun

Sale of Majority

EUR not disclosed

Investor: ABN AMRO ETF

2019

Nomadd Cepco

Nomadd

Series B Fundraise

USD not disclosed

Investor: CEPCO (Saudi Arabia)

2018

Greencells

Greencells

Strategic Investment

EUR not disclosed

Investor: Zahid Group (Saudi Arabia)

2018

Al-Babtain and haizea wind group

Al-Babtain Power & Telecom and haizea wind group

Joint Venture

Wind tower manufacturing

2018

Al-Babtain and Metalogalva

Al-Babtain Power & Telecom and Metalogalva

Joint Venture

PV mounting structure manufacturing

2017

Irolli and Risen

Joint Venture

PV module manufacturing

2017

Convergent Energy + Power

Convergent Energy & Power

Strategic Investment

USD not disclosed

Investor: Statoil Energy Ventures 

2016

German ASEAN Power

German ASEAN Power

Sale of 50%

EUR not disclosed

Investor: Habdank (Germany)

2016

Dallah Albaraka

Sol Voltaics

Series C Fundraise

USD 17M (total)

Investor: Riyadh Valley Company (Saudi Arabia)

2016

Eos

Eos Energy Storage

Series C Fundraise

USD 23M (total)

Investor: OCI (Korea)

2015

​selected project transactions

Voltalia

STEG Renewable Energy Tender

500 MW Tunisia

Financial Advisor to Bidder

2019

Greencells Group

Pekan LSS2 IPP

30 MWac Malaysia

Financial Advisor

2019 (ongoing)

Nomadd Cepco

Kawar Energy

Electrical Storage System Project

30 MW/60 MWh Jordan

Advisor

2018

(Undisclosed)

Ibri II Solar IPP

500 MWac Oman

Financial Advisor

2018

Al-Babtain and haizea wind group

JGC, Trina Solar, Taqnia, AlJomaih

Sakaka Solar IPP

300 MWac Saudi Arabia

Financial Advisor

2017

Convergent Energy + Power

Convergent Energy & Power

Energy Storage Project Finance

12 MW storage portfolio Canada

Commercial Advisor 

2016

(Undisclosed)

Al Jouf and Rafha Solar SEC IPP

100 MWp Saudi Arabia

Commercial Advisor

2016

German ASEAN Power

Jinko Solar

Sheikh Maktoum Solar Park DEWA IPP Phase 3

800 MWp UAE

Commercial Advisor

2016

Dallah Albaraka

Dallah Albaraka

Jordan Direct Proposal Solar IPP Program Round 2

50 MWp Jordan

Commercial Advisor

2016

We work with a variety of organizations across many markets: Holdings and multi-national companies, midsize companies, technology start-ups, investment firms, academic and research centers and government agencies – and focus on their diverse and individual needs.

Read what our clients say about us

“…their approach to diligence and expert investment advice makes them feel more like a co risk-taker than an advisor…”
The Apricum team’s approach to diligence and expert investment advice makes them feel more like a co risk-taker than an advisor; we rarely find this sense of partnership and genuine concern for our long-term interests in investments from other bankers and consultants. With our commitment to the energy transition, we look forward to successful collaboration with Apricum long into the future.” 

David Haughie

Managing director, investments and structuring, Mercuria

“….we were impressed by their deal track record and team capabilities and decided to work with them again…”

Apricum supported Sunrock in defining our European expansion strategy. We were impressed by the combination of their rooftop solar industry knowledge, deal track record and team quality/capabilities and decided to work with them again in the next step.”

Johannes Duijzer

CEO, Sunrock

“…their professionalism and dedicated support were instrumental…”

“We were very impressed by the high caliber investors Apricum brought to us as well as their transaction expertise and deep understanding of the power grid industry and its technical complexities. Their professionalism and dedicated support throughout the entire process were instrumental in concluding this fundraising round so successfully.”

MARC BORRETT

CEO, Reactive Technologies

“Their indepth knowledge of the global rooftop solar market was of great value to us.”

Apricum provided us with very detailed data and insights on rooftop solar – a highly important market segment for us. Working with them really helped us in identifying interesting growth markets as well as targeting promising trends. Their indepth knowledge of the global rooftop solar market was of great value to us.

Stijn Vos

CEO, Esdec Solar Group

“Apricum’s expertise crucial to refining our approach…”

“Apricum has been a terrific partner for our company, initially as Avalon Battery then after our merger with redT Energy to form Invinity Energy Systems. Not only was Apricum’s expertise crucial to refining our approach to capital markets, but their insights into the broader energy ecosystem were tremendously valuable in understanding, evaluating and crafting the commercial positioning of our vanadium flow batteries for potential customers and strategic partners.”

MATT HARPER

Co-Founder and Chief Commercial Officer, Invinity Energy Systems

“…superior professionalism and reliability – simply a pleasure to work with.”

“In-depth stationary storage expertise… a pleasure to work with. Apricum supported us in several strategy projects as well as with a comprehensive analysis of cost structures for our stationary battery storage business. Their in-depth stationary storage expertise in this sector is impressive as is their superior professionalism and reliability – simply a pleasure to work with.“

SEBASTIAN GERHARD

DIRECTOR BATTERIES, VATTENFALL

“…exceptional network and access to top decision makers”

“Apricum supported us in a strategic partner search conducted in five countries on four continents. We were very impressed with their exceptional network and access to top decision makers in each target country. Apricum introduced us to highly targeted, high-level companies with the exact strategic fit we were looking for.”

Raymond Wang

Executive Vice President, Sungrow China

“ …their execution expertise and high commitment from beginning to end were crucial to successfully closing the deal.”

“We thank Apricum for making this transaction happen. Their access to decision makers among investors worldwide, deep understanding of the solar industry, their execution expertise and high commitment from beginning to end were crucial to successfully closing the deal.”

Andreas Hoffmann

CEO, Greencells

“…their truly global network of relevant investors impressed us greatly.”

“Apricum’s deep understanding of solar technology and markets, as well as their truly global network of relevant investors impressed us greatly. Their professionalism and expert input into our strategy and business model were instrumental for the successful conclusion of this fundraising round.”

ERIK SMITH

CEO, SOL VOLTAICS

“…versatility that you find rarely among consultants.”

“We deliberately chose Apricum as a boutique consulting firm on a recent due diligence project in the photovoltaic industry. The team demonstrated the highest level of competence down from the minute technical details of photovoltaic production processes up to an excellent understanding of the industry dynamics and the key strategic implications – a versatility that you find rarely among consultants. From day one, they brought their comprehensive sector knowledge to the table. Their reports were very focused without limitations on necessary detail. They served the objective of our engagement very well.”

Rabeaa Fattal

Director, Swicorp Private Equity

“……highly professional consulting services. Apricum’s support was critical for success…”

Apricum has intensively and successfully accompanied the transformation of Meyer Burger from a technology developer and equipment manufacturer to an integrated producer of leading premium solar modules with its highly professional consulting services. In this very intensive phase of the company, Apricum’s support was critical for success.”

Gunter Erfurt

CEO, Meyer Burger

“With Apricum’s deep expertise…we were able to make an informed decision…”

“Apricum helped HV during our SPV DD in assessing the quality of Enpal’s SPVs. With Apricum’s deep expertise we were able to holistically look at both the technical and financial quality of Enpal’s portfolio and make an informed decision with regard to an investment into Germany’s largest residential PV installer.”

Maximilian Zoller

Principal, HV Capital

​“Apricum…a key support for us.”

“I’m really excited for Upside as we become part of Octopus Energy Group and take advantage of the opportunities this acquisition will bring. Apricum, with its industry knowledge, network and transaction experience was a key support for us.”

DEVRIM CELAL

CEO, UPSIDE ENERGY LIMITED

“Apricum’s advisory service has proved highly effective in assisting the development of our corporate strategy…”

“Apricum’s advisory service has proved highly effective in assisting the development of our corporate strategy. They have an excellent understanding of the renewable energy industry and did a great job of finding the right partners for Al-Babtain. Working with Apricum not only helped to confirm our strategic direction, but also enabled our team to build relationships with key members of the renewable energy industry.”

Tamer Kalou

Group Chief Operating Officer, Al-Babtain Power & Telecommunication Co.

“Apricum’s team is world class…”

“Apricum played a crucial role in the final close of our successful series C equity raise by bringing in a key strategic investor, which diversifies our investor base. Apricum’s team is world class and their network of global relationships to decision makers of major strategic companies is very impressive and made all the difference.”

Michael Oster

CEO, Eos Energy Storage

“profound expertise…visionary thinking…”

“Apricum has done a great job shaping our electric vehicle strategy. The team has demonstrated profound expertise regarding the EV value chain and market dynamics. Moreover, they have been able to combine visionary thinking with recommendations for short-term execution.“

MATTHIAS KITTLER

HEAD OF STRATEGY AND INNOVATION, ENERCITY AG

“…profound technical competence in photovoltaics…”

“Apricum’s technical competence in photovoltaics is excellent – very profound indeed. They identify trends at a very early stage, allowing the client to take the right choices and come up with correct approaches to participate in this highly dynamic market. Good to work with.”

Matthias Hau

Vice President & General Manager, Business Line Agrochemicals & Polymer Additives, Advanced Intermediates, Evonik Industries AG

“…high degree of professionalism and left us in no doubt of their credentials as renewable energy experts.”

“We are already active in the renewable energy sector and are considering extending our activities into solar and wind.  Apricum identified key solar and wind markets for which they provided a thorough and insightful analysis including potential business opportunities for us. We were impressed with their detailed level of knowledge of the selected solar and wind markets, particularly in regard to current developments and the opportunities arising from them. They exhibited a high degree of professionalism and left us in no doubt of their credentials as renewable energy experts.”

Head of Corporate Development

Multi-billion euro company in the international oil and energy business, headquartered in Germany

“Overall extremely impressed by Apricum.”

“Overall extremely impressed by Apricum. As an ex-McKinsey person, I think Apricum brings every bit of the management consulting toolbox into the project, on top of an industry depth in the day-to-day team that is truly impressive and rare in the consulting world.”

ANDRZEJ GOLEBIOWSKI

VICE PRESIDENT BUSINESS DEVELOPMENT, SCATEC SOLAR

“They were key to enabling us to make a decision.”

“We were impressed by the combination of analytical skills and industry knowledge. They were key to enabling us to make a decision.”

Robert Schrimpff

Partner, Greencoat Capital

A selection of our clients

Client case studies

Transaction advisory: Investor search

Greencells

About the client

Greencells is one of the largest European solution providers of solar photovoltaic (PV) power plants. Apricum led a comprehensive structured transaction process to support Greencells’ growth ambitions, resulting with the strategic investment from OMAS, a wholly-owned subsidiary of The Zahid Group in return for a 50% stake in Greencells. Continue reading

Transaction advisory: Joint venture

Al-Babtain Power & Telecom

About the client

Al-Babtain Power & Telecom (ABPT) is a Saudi-Arabia based holding with activities in a number of industrial sectors such as telecommunication, construction and energy. ABPT decided to enter the PV tracker business as a component manufacturer, with a view to gaining substantial traction in Saudi Arabia and the broader MENA region by supplying locally manufactured steel components. Continue reading

Transaction advisory: Bid support

DEWA Phase III 800 MW

About the project

Apricum advised its client, a consortium consisting of a European utility and Chinese solar IPP, in the bid preparation for DEWA’s 800 MW Phase III solar PV IPP tender.

Continue reading

Transaction advisory: Investor search

Eos Energy Storage

About the client

Eos is an American energy storage company with a leading cost position for grid-scale battery systems based on an innovative zinc hybrid cathode-based technology. After two rounds of financing, additional funds to support scale-up and delivery of MW-scale product were needed. Continue reading

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