DEALS

(LNG) sale and purchase agreement with Rio Grande LNG. Under this agreement, Itochu will purchase one million metric tons per annum (MTPA) of LNG on a Henry-Hub linked price from the Rio Grande LNG export project in Brownsville, Texas. The Rio Grande LNG export project will be capable of producing 27 MTPA of LNG at full scale. The project’s promoter, Next Decade, is currently targeting a positive final investment decision on the first three trains of the project during the first quarter of 2023. The project will potentially include a carbon capture and storage system that is designed to reduce at least 90 percent of the CO2 emissions produced at the Rio Grande LNG Terminal. Singapore partner Nick Kouvaritakis, supported by partners Rupert Burrows (Tokyo) and Sean Prior (Singapore), led the firm’s team in the transaction.

Nishith Desai Associates has acted as India counsel to Exor Co-invest Fund I on its Series D investment round in Ultraviolette Automotive. The Series D investment round also saw participation from Qualcomm Ventures. Ultraviolette manufactures futuristic and high-end electric motorbikes, which seek to redefine the sustainable automotive space. Exor has diverse investment portfolio, which includes Ferrari, Juventus Football Club and Christian Louboutin, among others.

O’Melveny has advised Fluence Analytics, a startup that provides real-time analytics solutions to polymer and biopharmaceutical companies worldwide, on its acquisition by Yokogawa Electric, an advanced solutions provider in the areas of measurement, control and information to customers across a broad range of industries. As a result of the acquisition, Fluence Analytics will function as Yokogawa Fluence Analytics, and integrate its operations with Yokogawa’s existing business to further enhance its technological capabilities. Based in the US, Fluence Analytics is a global leader in polymerisation*1 reaction monitoring and control, and its automatic continuous online monitoring of polymerisations (ACOMP) product is the only commercially available system that can measure and analyse multiple polymer properties in real time. Founded in Tokyo in 1915, Yokogawa Electric addresses customer issues regarding the optimisation of production, assets and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations. Silicon Valley M&A partners Brian Covotta and Warren Lazarow led the firm’s team in the transaction, which was announced on 2 February 2023.

Paul Hastings has advised GenScript Biotech and its subsidiary Probio Technology on Probio’s Series C financing