06 July 2022

Carey Olsen advises Lemon Energia's Series A funding round

Carey Olsen's corporate practice in the Cayman Islands has advised Brazilian sustainable energy marketplace Lemon Energia on its US$11.5m Series A funding round.

Founded in Sao Paulo in 2019, Lemon Energia connects clean energy generators to small and medium sized businesses across Brazil. The energy sector startup works with sustainable solar, wind, hydropower or biogas power plants that already produce energy and facilitates the relationship through digital channels between the plants and businesses that come in as new customers.

The Series A was led by Kaszek, a venture capital fund with a focus on Latin American tech startups, with participation also coming from Lowercarbon Capital, Actyus and Kevin Efrusy.

Working alongside onshore counsel Bronstein, Zilberberg, Chueiri & Potenza Advogados, the Carey Olsen team advising on the Cayman Islands aspects of the funding round were partner Alistair Russell and associate Trevor McCabe.

Alistair said: "We are thrilled to support Lemon Energia achieve this milestone and to be able to demonstrate, once more, the popularity of the Cayman Islands as a hub for venture capital deals, particularly in the Latam region. Lemon Energia has the potential to disrupt Brazil's energy market and transform the way energy is distributed in the country and Carey Olsen is proud to be a part of its journey."

Lemon Energia currently serves over 3,000 customers across several states in Brazil with the aim to become one of the largest sustainable energy marketplaces in the country. It will use the investment to expand its operations, platform and services to further facilitate access to sustainably produced energy.

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