From: Mercom Capital Group
Energy Dome, an Italian energy storage technology company, raised $11 million in a Series A funding round. The company will use the proceeds to complete its CO2 Battery demonstration project in Sardinia, Italy, and accelerate business growth. The oversubscribed round was led by deep technology venture capital firm 360 Capital. Other investors include Barclays’ Sustainable Impact Capital programme, Geneva-based multi-family office Novum Capital Partners, and Third Derivative, a global climate technology start-up.
Beacon, a distributor of commercial and residential roofing products, announced the completion of the sale of its solar products business to BayWa r.e., a renewable energy developer, service supplier, and systems provider. Beacon’s solar products business consists of four dedicated and six shared branch locations where it distributes solar products, including PV panels, to both residential and commercial contractors.
Leap, an energy market access provider, has secured strategic funding from the Japan Energy Fund (JEF), a decarbonized tech fund backed by ENECHANGE, positioning the company for potential entry into the Japanese market. The company also announced the addition of David Brewster, co-founder of EnerNOC and sustainability-focused entrepreneur and investor, to its board of advisors.
Voltus, a Distributed Energy Resource software technology platform, and Broadscale Acquisition, a publicly traded special purpose acquisition company, announced a definitive agreement for a business combination that will result in Voltus becoming the first publicly traded pure-play DER software technology company. Upon closing the transaction, the combined company will be named Voltus Technologies and remain listed on the Nasdaq under the new ticker symbol “VLTS.”
Yokogawa Electric Corporation, a Japanese multinational electrical engineering, and software company, has acquired all of the outstanding shares of PXiSE Energy Solutions, a San Diego-based developer of software that enables utilities and other grid operators to deliver reliable and stable power by managing renewables and distributed energy resources (DERs) in real-time. Through this acquisition, Yokogawa will build on its capabilities in monitoring and controlling power generation facilities and assisting customers in the power transmission and distribution sectors to meet their clean energy goals.
CBAK Energy Technology, a lithium-ion battery manufacturer and electric energy solution provider in China, announced that its wholly-owned subsidiary Dalian CBAK Power Battery had completed its acquisition of a majority stake in Zhejiang Hitrans Lithium Battery Technology, a lithium-ion battery material supplier in China formerly known as Zhejiang Meidu Hitrans Lithium Battery Technology. Upon closing the transaction, CBAK Power is now the largest shareholder of Hitrans, owning 81.56% of its equity.
SinglePoint – which focuses on providing renewable energy solutions and energy-efficient applications in the U.S. – has entered into an agreement to acquire 80.1% of Boston Solar, an EPC solar installer in New England. The transaction is contingent on the ongoing audit and the subsequent financing and is expected to close before year-end or within the first quarter of 2022.
Koch Engineered Solutions (KES), a unit of Koch Industries, announced the acquisition of DEPCOM Power, engineering, procurement, and construction (EPC) firm that builds utility-scale solar projects and manages ongoing operations, maintenance, and refurbishment services. DEPCOM’s portfolio includes approximately 5 GW of projects representing completed, in-construction, and preconstruction stages across the U.S. Stinson served as legal advisor to KES on the transaction, while Greenberg Traurig served as legal advisor to DEPCOM.
Quinbrook Infrastructure Partners, an investment manager focused on renewables, storage, and grid support infrastructure, acquired Habitat Energy, a U.K.-based optimization and trading platform for grid-scale battery storage. Quinbrook plans to support Habitat further to develop its technology suite and advanced machine learning capabilities, continuing Habitat’s expansion into Australia and the U.S., where the initial focus will be on the ERCOT market in Texas followed by other U.S. ISOs.
ZE Energy, an independent producer of renewable energy, raised €40 million (~$45.1 million) in a Series B round. Pan-European equity fund Marguerite and French regional utility Groupe Soregies made their first investments in ZE Energy, joining the firm’s initial backers Demeter, HTGF, EverWatt, and Ze Way Invest. The capital injection will support Ze Energy’s growth plans for 2022, including establishing a presence in Italy and Spain. The firm will also seek to increase direct sales through corporate power purchase agreements (CPPAs) and buy new land to build its solar-plus-storage plants.
Mainstream Renewable Power, a developer of wind and solar power projects, has raised €90 million (~$101.5 million) in additional funding to accelerate new market entries and the build-out of gigawatt-scale wind and solar assets across Latin America, Africa, and Asia Pacific region. The capital was raised from Mainstream’s current shareholder base, including Aker Horizons, which maintained its 75% stake in the company.
iSun, a solar energy, and clean mobility infrastructure company, announced it had reached a definitive agreement to make a strategic minority interest equity investment in Encore Renewable Energy, a community-scale solar developer. The investment helps accelerate the expansion of iSun’s Commercial, Industrial and Utility businesses.
EQT announced that the EQT Infrastructure V fund, through the investment vehicle Veleta BidCo has completed its voluntary tender offer for Solarpack Corporacion Tecnologica, a vertically integrated developer and IPP focused on utility-scale solar PV projects. Veleta BidCo announced the offer for 100% of Solarpack’s shares at €26.5 (~$29.8) per share in cash.
For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.
Read last week’s funding roundup.