FOCUS Capital Partners advises on e2 Companies agreement to go public at $500m

FOCUS Capital Partners were pleased to advise on a definitive agreement for a business combination between e2Companies and Nabors Energy Transition Corp (NETD) to become a publicly traded company on the Nasdaq.

The transaction is expected to provide up to $400 million in gross proceeds to the new public company and values e2Companies at a pre-money equity value of $500 million.

e2 is the first vertically integrated Virtual Utility® for power generation, distribution, and energy economics in the marketplace. e2Companies’ patented technology, the R3Di® System, provides automated grid stability for continuous on-site power and seamless resiliency, independent of grid conditions.

NETD is primarily sponsored by Nabors Industries Ltd. (NYSE: NBR), a leading provider of advanced technology for the energy industry and one of the world’s largest drilling rig, services and technology providers.

This transaction was led by Martin Higgins, Alan Kelly and Paul Meade at FOCUS Capital Partners.

Martin Higgins, Managing Director at FOCUS Capital Partners, said,

“We were pleased to initiate and advise on this definitive agreement for a business combination between e2Companies and Nabors Energy Transition Corp which will take e2 Companies public at $500 million in value.”

“e2 is a provider of a leading solution in the energy transition space. The e2 micro-grid solution, which can operate independently of a grid connection, has particular relevance in data centres and other large industrial settings. It offers an energy solution for utilities which are struggling to keep pace with the increasing power demand fuelled by AI, without a corresponding increase in supply or upgrading of the power grid.”

This is the second significant US-based transaction announced by FOCUS Capital Partners. In 2024, FOCUS Capital Partners sold the US-based subsidiary of Devenish Nutrition to South Korean company Easy Bio.

This e2 and NETD transaction comes as part of an exciting new chapter for FOCUS Capital Partners, who recently announced the buyout of FOCUS Investment Banking in the United States to create an international corporate finance advisory business, serving an even wider range of clients worldwide across all industries.

This transaction follows a funding transaction of a data centre site at Jigginstown, Naas, Co. Kildare, also recently completed by the firm, highlighting its offerings and expertise in the energy and renewables space.