Global Construction & Energy Projects: ABB $200M Expansion, ProcurePro $11M Funding, Moment Energy Battery Facility, Panthalassa Data Centers, M&S NDC - News and Statistics

May 17, 2026

ABB has pledged US$200m to broaden its medium-voltage equipment production footprint across Europe during the coming three years. The capital will be used to manufacture SF6-free switchgears, vacuum interrupters, and grid automation components for construction projects that range from hyperscale data centers to renewable energy sites.

The money will be allocated to factories in six European nations. Half of the sum is destined for ABB’s facility in Dalmine, northern Italy, while the rest will be divided among locations in Bulgaria, Finland, Germany, Norway, and Poland.

The International Energy Agency projects that worldwide electricity consumption will increase by 3.5% each year through 2030. This trend is straining grid systems and causing shortages of electrical gear for building projects.

ProcurePro, a platform for construction procurement, has secured US$11m in financing to grow its artificial intelligence product lineup and break into additional markets. QIC Ventures led the investment round, with participation from current backers Airtree, Glitch Capital, and Bouygues. The company is now valued at more than US$80m.

The construction sector typically sees profit margins of 1% to 4%, ranking it among the least profitable industries even though its global worth is US$13tn. In Australia, where ProcurePro is based, construction makes up roughly 7% of GDP. According to the Australian Bureau of Statistics, the industry added over AU$175bn in gross value annually and employed about 1.3 million people in the 2023-24 period.

Canadian clean energy firm Moment Energy expects to finish building what it describes as the largest battery repurposing plant in the world within six weeks. The Vancouver megafactory is slated to begin full operations by the end of June. This effort follows a US$40m Series B funding round, and total capital raised for the site has surpassed US$100m.

A US startup has collected US$140m to construct floating data centers that function in the deep ocean. These structures stand 85 metres tall and draw all their power from wave energy. Panthalassa recently concluded a financing round headed by Peter Thiel, and the company is valued at nearly US$1bn including the fresh funds. The round also drew investments from Salesforce CEO Marc Benioff, PayPal and Affirm co-founder Max Levchin, and investor John Doerr.

A steel-signing event in Northamptonshire marked the beginning of construction on Marks & Spencer’s automated National Distribution Centre. The 1.3m sqft facility may become the retailer’s biggest supply chain project. According to M&S, the £340m (US$460m) investment is intended to update food distribution operations and boost capacity for more than 200 stores. The project is being built on a site in Daventry together with Prologis UK. The NDC is planned to earn a BREEAM Outstanding certification, with features including recycled materials, rooftop solar panels, rainwater collection systems, electric vehicle charging points, and a dedicated vehicle maintenance workshop.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS

2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

KEY FINDINGS
MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO

3. MARKET OVERVIEW

Understanding the Current State of The Market and its Prospects

MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET FORECAST TO 2035

4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

Finding New Products to Diversify Your Business

TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
MOST TRADED PRODUCTS
MOST PROFITABLE PRODUCTS FOR EXPORT

5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Export

TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS

7. PRODUCTION

The Latest Trends and Insights into The Industry

PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

8. IMPORTS

The Largest Import Supplying Countries

IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

9. EXPORTS

The Largest Destinations for Exports

EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

This Chapter is Available Only for the Professional Edition
PRO

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United States