SUNYA SCOOP

EQT climbs Mount Olympus

April 24, 2025

Calpine, ExxonMobil sign CCS agreement for Baytown Energy Center

Up to 2M tonnes/year CO₂ to be captured and stored from 500 MW plant.

  • Adds to Exxon’s 16M tonnes/year CCS customer portfolio

  • Leverages Gulf Coast CO₂ pipeline network

  • Supports low-carbon power for >500K homes

XPRIZE awards $100M for carbon removal - Mati Carbon takes $50M grand prize

Competition galvanized 1,300+ teams; catalyzed $3.9B carbon removal market.

  • Runners-up: NetZero ($15M), Vaulted Deep ($8M), UNDO ($5M)

  • Winners removed 1,000+ net tonnes CO₂ using scalable methods

  • Backed by Musk Foundation to accelerate carbon tech commercialization

Stonepeak launches $1.5B-backed Montera Infrastructure for hyperscale data centers

Newco targets 100+ MW builds in Tier I/II metros for AI/cloud clients.

  • 4th North American data center investment for Stonepeak

  • Led by Yondr & Google veterans; 100+ facility track record

  • $73B AUM firm focuses on digital infra, energy, real estate

Durin raises $3.4M to automate mineral exploration drilling

Backed by 8090 Industries, Durin targets high-cost, labor-limited mineral exploration with robotic rigs.

  • $3.4M pre-seed led by 8090; investors include a16z, Lux, Contrary, 1517, Bedrock, Day One

  • Prototype rig: 300m depth, 2.5” bore, sensor-equipped for future automation

  • Goal: fully autonomous rigs in 2–3 years, with data-guided models and auto pipe loading

Zenobē funds CA$48M for 500 electric fleet vehicles in Canada

Largest private EV debt financing in Canadian history backs 7Gen expansion.

  • Targets vans, trucks, buses, and charging infrastructure

  • Builds on Zenobē’s 2,000+ EV deployments across four continents

  • CA$1.6B in backing from KKR and M&G Infracapital

Apollo & Bullrock launch $220M community solar JV in Northeast

Backed by Apollo’s $100M equity, the JV targets 500 MW of community solar in NY & New England.

  • Bullrock to lead development, operations, and asset management

  • Apollo has deployed ~$58B in climate/energy transition in 5 years

  • Deal aims to improve local access to affordable clean energy

Ardabelle Capital teams up with TPG NEXT to scale sustainable mid-market deals

New firm led by Virginie Morgon aims to back regional champions in sustainability.

  • Focused on mid-market industrial, services, and tech firms

  • Targets supply chain resilience, sustainable logistics, and resource efficiency

  • Seven-partner team backed by TPG’s $246B AUM platform

EQT to acquire Olympus Energy for $1.8B, raises 2025 production guidance

Strategic bolt-on adds upstream and midstream assets in Appalachia.

  • Q1: 571 Bcfe sales, $1.04B FCF, $8.4B total debt

  • Raises 2025 guidance by 25 Bcfe; lowers capex by $25M

  • Olympus deal expected to boost EBITDA and FCF meaningfully

X2 Resources secures equity backing from EnCap, Westlawn, RIG

New platform targeting large-scale O&G assets across premier U.S. basins.

  • Built by team that sold XCL Resources for $2.64B in 2024

  • Targeting $500M to multibillion-dollar deal sizes

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.