Exponential Renewables SL announced an equity round of funding led by new investor Technip Energies N.V. on February 8, 2022. The transaction also included participation from new investor European Innovation Council (EIC) Fund and some of X1 company's previous shareholders. As part of the transaction, Technip Energies will hold two of the nine seats on company's board of directors and will hold 16.3% stake in the company.