25 Jun 2024
Benchmark Mineral Intelligence Limited (“Benchmark”) is excited to announce the successful completion of its first major acquisition, Rho Motion, a leading energy transition data and market intelligence provider.
The deal expands Benchmark’s market coverage by providing downstream visibility of electric vehicles (EV), powertrain technology, energy storage systems (ESS), rare earth permanent magnets, EV charging ecosystems, semiconductors and renewable energy.
Combined, with nearly 250 employees, Benchmark and Rho Motion form the world’s biggest platform for prices, data and market intelligence dedicated to the full breadth of critical mineral and energy transition supply chains.
With both companies headquartered in London, the deal positions the UK at the centre of this generational shift from fossil fuels to future-facing, low carbon technologies.
Benchmark is the world’s fastest growing business at scale for lithium, critical minerals and the energy transition.
Simon Moores, CEO at Benchmark said:
“Where Benchmark’s coverage stops, Rho Motion’s starts.
“The company that Adam and his team have built over the last six years is something both unique and industry defining.
“The combination of Rho’s proprietary insights on the entire energy transition ecosystem coupled with Benchmark has a multiplier effect for both customer bases.
“This is particularly powerful considering the new and significant investment into our commercial, sales and technology divisions following our minority investment from Spectrum Equity.
“This acquisition makes our offering completely unique and further reinforces Benchmark’s number one position in the battery, electric vehicle and energy transition market intelligence space.
“Benchmark is the first major commodity publishing house to scale in a generation.”
Adam Panayi, Managing Director at Rho Motion said:
“It is a great pleasure to be joining forces with Benchmark to form the first dedicated end-to-end data and market intelligence firm covering the energy transition from mine to grid.
“The combined expertise of the two companies will provide a complete solution to guide the trillion dollar challenge of building the future energy landscape.
“The decision to join Benchmark comes at the end of a long search for a partner who shares our values in terms of company culture and dedication to excellence in the work we produce.”
About Benchmark:
Benchmark enables the most critical decisions of the energy transition through independent prices, data and supply chain intelligence.
Benchmark’s clients are major decision makers reaching the highest levels of industry, government and finance across the globe.
Benchmark sets reference prices for lithium and other key battery raw materials and chemicals, including graphite, anode, nickel, cobalt, rare earths, cathode, PCAM, black mass (battery recycling), and battery cells.
About Rho Motion:
Rho Motion produces the most comprehensive and well-informed forecasts and analysis for the energy transition and electrification megatrend.
Rho Motion offers deep insights, through unique datasets and developed industry connections on a global scale.
Rho Motion’s client base spans the entire electrification ecosystem and our analysis is relied upon by key decision makers in industry, government and finance.
The company was founded in 2018 by Managing Director Adam Panayi.
Media Contact:
Louis Spice
Rho Motion
+44 20 3988 7648
Emily Dunn
Benchmark Mineral Intelligence
Read the full news release here
