As climate tech continues to attract attention from investors and large-scale corporations, we’re seeing more exits & mergers and acquisitions in this rapidly evolving industry. For June 2025, we’ve tracked notable exits that signal increasing interest in renewable energy, industrial innovation, and sustainable mobility. In our roundup, we provide detailed insights into deal sizes, the finalization of acquisitions, and key updates as they occur. Note: Some exits were initially announced earlier, but we’re sharing new information as deals close or updated financials become available.
Energy
Hydrogenera (Green Innovation AD)
Founded: 2016 – Sofia, BG
Exit Type: Initial Public Offering
IPO Range: BGN 12 – 20 per share
Insights: Green Innovation AD, known as Hydrogenera, has secured regulatory approval to go public on the Bulgarian Stock Exchange. The company is a key player in Eastern Europe’s hydrogen sector, offering full-spectrum solutions from electrolysis-based generation to hydrogen infrastructure deployment. With over 92 hydrogen projects across the continent and strong partnerships in Germany, Poland, Turkey, and the UK, Hydrogenera is poised to scale rapidly.
In 2024, the company reported BGN 8M in revenue and BGN 1M in pre-tax profits—a fivefold increase since 2022. The IPO is expected to fuel R&D into hydrogen-fueled internal combustion engines and expand operations to meet rising demand for green hydrogen across industrial sectors.
Learn more here.
Food, Agriculture & Land Use
MeliBio
Founded: 2020 – San Francisco, USA
Acquired by: FoodYoung Labs
Deal Size: Undisclosed
Insights: Swiss food innovation powerhouse FoodYoung Labs has acquired MeliBio, the California-based pioneer behind Mellody®, the world’s first plant-based honey. Known for debuting at Eleven Madison Park and now featured in retailers like Aldi, Mellody® offers a scalable, bee-free alternative that addresses food security and biodiversity challenges.
This acquisition brings together FoodYoung’s vertically integrated foodtech infrastructure with MeliBio’s proprietary plant-based fermentation and IP. It signals FoodYoung’s commitment to expanding clean-label, unrefined products that blend culinary excellence with science. With more than 145 years of combined food industry heritage and a portfolio of innovative brands, FoodYoung is set to accelerate Mellody’s impact in both U.S. and European markets.
Learn more here.
Industry
Equitable Earth
Founded: 2023 – San Jose, USA
Acquired by: ERS
Deal Size: Undisclosed
Insights: Ecosystem Restoration System, ERS, an ICVCM-approved carbon standard focused on nature-based solutions, has acquired Equitable Earth, a forest carbon standard rooted in Indigenous and community-led conservation. Developed by a coalition of over 60 organizations and 125 individuals, Equitable Earth is built on the principle that forest communities must lead efforts to halt deforestation.
The acquisition aligns with ERS’s mission to expand from restoration to include the urgent protection of standing forests. It integrates Equitable Earth’s consultative framework and governance model, ensuring Indigenous and local communities remain central to the carbon credit market. The move is seen as a step toward high-integrity, community-driven REDD+ credits, offering new momentum for climate finance and forest protection.
Learn more here.
Building & Transportation
XCF Global
Founded: 2016 – Reno, USA
Exit Type: Public Listing,
Exchange: Nasdaq
Deal Type: SPAC Merger with Focus Impact BH3 Acquisition Co.
Insights: XCF Global, a synthetic aviation fuel (SAF) pioneer, began trading on Nasdaq under the ticker SAFX following its SPAC merger with Focus Impact BH3 Acquisition Company. The listing positions XCF to accelerate the development and scaling of SAF platforms that meet the rising demand for low-carbon aviation solutions.
With a focus on clean, high-compliance SAF production, XCF aims to support the aviation industry’s shift to net-zero emissions through new facility deployments and expanded industry partnerships. The move marks a strategic milestone in decarbonizing air travel at scale.
Learn more here.
Viggo
Founded: 2019 – Copenhagen, DE
Acquired by: Bolt
Deal Size: Undisclosed
Insights: Bolt, the Estonian mobility startup, has made its first-ever acquisition by acquiring Viggo, a Danish electric ride-hailing company, to expand its footprint in Denmark. Viggo operates a fleet of over 300 electric vehicles and serves 450,000 users across Copenhagen and Aarhus.
This acquisition allows Bolt to integrate Viggo’s fully electric operations into its platform, expand its ride-hailing services in Denmark, and accelerate its sustainable mobility strategy. The deal also complements Bolt’s growing e-bike services in Copenhagen and its partnership with Taxi 4×27, enabling it to become the largest ride-hailing operator in Denmark.
Learn more here.
GET ACCESS TO THE FULL RUNNING LIST DATABASE
The database is accessible to the members of our community as part of other exclusive content we provide to them. Learn more about the membership options here.
With care,
Critical Cap Team
