Corporate / CVC · 1 deal

Equinor

Disclosed deals

Every published round Equinor took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.

Company	Stage	Announced	Amount	Role	Alongside	Sources
RayGen	Series C	18 Oct 2021	$55m	Participant	SLB Equinor Ventures Australian Renewable Energy Agency (ARENA)Chevron Technology Ventures Photon Energy Schlumberger New Energy AGL	Startup Daily, @AuManufacturing, Breakthrough Victoria, RenewEconomy (Wed 3 Nov 2021), RenewEconomy (Mon 18 Oct 2021)

Portfolio

Companies Equinor has backed in a published round, and companies whose existing shares it bought off another holder.

Company	What it does	First invested	Rounds	Led
RayGen		18 Oct 2021, Series C	1	0

Funds

Fund closes reported for Equinor, as distinct from the investments it has made.

Fund	Announced	Committed	Target	Close	Sources
No fund closes recorded for Equinor yet.

Portfolio companies acquired

Companies Equinor has backed that another company then bought. An exit for the holding, not a deal Equinor did.

Company	Bought by	Kind	Announced	Price
No portfolio company of Equinor is recorded as having been acquired.

Coverage

Stories naming Equinor. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.

Exit / M&A

Australian offshore wind trailblazer pulls up stumps, warns against “overstated risk aversion and timidity”

Offshore wind developer Oceanex Energy will shut down in 2026 after ending partnerships and abandoning Australian and New Zealand projects, with co-founder Andy Evans urging Australia to overcome risk aversion and execute renewables opportunities.

RenewEconomy Fri 19 Dec 2025 AGL Cbus Copenhagen Infrastructure Partners Equinor NewVolt Novocastrian Wind Oceanex Energy Oceon Energy Star of the South Andy Evans Peter Sgardelis Terry Kallis

Also RenewEconomy

Key hire

Grid Connections: Who’s going where in Australia’s energy transition

A rolling roundup of Australian energy-sector job moves, listing dozens of executives, directors and ministers joining or leaving utilities, regulators, developers and industry bodies between May and December 2023.

RenewEconomy Tue 12 Dec 2023 5B ABB ACEN Australia AECOM AEMO AGL Alinta Energy Ampol AMSL Aero ANZ Arup ATCO Australia Aurecon Ausnet Australian Energy Council Australian Energy Market Operator Australian Energy Regulator Australian Institute of Company Directors Australian Renewable Energy Agency (ARENA)Australian Solar Thermal Research Institute BP Brighte Canadian Solar CATCH Power CBA CleanCo Clean Energy Council ClearVue Technologies ClimateWorks CS Energy CSIRO Deloitte Delta Group Department of Climate Change, Energy, the Environment and Water eBay Australia Eku Energy Electric Vehicle Council Energy Australia EnergyCo Energy Efficiency Council Energy Queensland Energy Vault Equinor Essential Services Commission ETSI Federal Government Fluence Fortescue Fortescue Energy Fortescue Future Industries Fotowatio Renewable Ventures Australia (FRV)Gaw Capital Partners GE Genex GMR Energy Horizon Power Hydrostor Hydro Tasmania Hysata Incitec Pivot Fertilisers Infigen Institute for Energy Economics and Financial Analysis Jemena Jet Charge Lochard Energy Macquarie Group Monash University Mott Macdonald Neom North Harbour Clean Energy OX2 Australia Pacific Energy Pacific Hydro Australia Pollination Group Queensland Hydro RayGen Redflow Rewiring Australia SEA Electric Shell Energy Australia SMA Smart Energy Council Snowy Hydro Squadron Energy State Electricity Commission SunCable SunDrive SwitchDin Tilt TotalEnergies Total Eren Vast WA Government Western Power Windlab Wirsol Energy Zen Energy Dr Alan Finkel AC Andrew Moore Anthony Fowler Claire O'Neill Craig Francis Damien Nicks David Griffin David Smales Dino Otranto Dr Dr Larry Marshall Fiona Hick Geoff Dutaillis Ivor Frischknecht Dr Larry Marshall Malcolm Turnbull Mark Branson Marshall D. (Mark) Smith Martin Deil Max York Michael Hipwood Mitesh Patel Oliver Yates Dr Patrick McCarthy Reece Whitby Renae Gasmier Rob Grant Sara Taylor Siobhan Lyndon Stephanie Unwin Steve Wilson Tim Washington

Series B US$198m

Rio Tinto joins Gates to back renewable hydrogen startup as miners look to future tech

Mining major Rio Tinto has joined Bill Gates' fund and other industrial and cleantech backers in a US$198 million Series B for hydrogen electrolyser developer Electric Hydrogen; Fortescue's electrolyser investments are also noted.

Unnamed stage $55m

World’s biggest solar and storage project proposed for South Australia

Photon Energy has proposed a huge South Australian solar-plus-storage plant using RayGen's technology. The article also recalls RayGen's recent $55 million round backed by Chevron, Schlumberger, Equinor and Photon, plus AGL and ARENA support.

RenewEconomy Wed 3 Nov 2021 RayGen AGL ARENA Chevron Schlumberger SunCable Equinor Photon Energy Michael Gartner Richard Payne

Also Breakthrough Victoria·RenewEconomy·Startup Daily·@AuManufacturing

Series C $55m

Norway oil giant tips millions into Australian dispatchable “solar hydro” tech

RayGen's Series C reached $55 million with Equinor investing $9 million, joining Chevron, AGL, Photon Energy and Schlumberger, plus an ARENA grant, funding a Victorian storage project.

RenewEconomy Mon 18 Oct 2021 AGL Australian Renewable Energy Agency (ARENA)RayGen Chevron Technology Ventures Equinor Photon Energy Schlumberger New Energy Gareth Burns Leonie Walsh Richard Payne Tyler Durham