From: Mercom Capital Group

Matrix Renewables, a global renewable energy company, and Santander Corporate & Investment Banking closed a €300 million (~$322 million) corporate debt financing deal. Matrix secured this financing as Green and Sustainability-Linked, aligning it with the Green and Sustainability-Linked Loan Principles. The financing will allow Matrix to expedite the growth of its platform by allocating funds toward the construction of its advanced development portfolio.

TI Clean Mobility, a wholly-owned subsidiary of Tube Investments of India, a Murugappa Group company, has raised ₹5.8 billion (~$69.5 million) in equity and convertible preference shares from South Asia Growth Invest III LLC and South Asia EBT Trust III (collectively GEF Capital Partners). TICMPL had first ventured into last-mile mobility with an electric three-wheeler portfolio under the brand ‘Montra Electric.’

Li Industries, a battery recycling company, secured $36 million in Series B funding to advance lithium-ion battery recycling solutions. Bosch Ventures, Khosla Ventures, and LG Tech Ventures have co-led the round, with new investments from Formosa Smart Energy Tech Corp., Anglo American Decarbonization Ventures, and Chevron Technology Ventures. These new investors are joining existing backers, Shell Ventures and Myriad Ventures.

Relux Electric, an India-based electric vehicle (EV) charging infrastructure firm, has secured ₹2.5 billion (~$29.93 million) in project financing from a group of real estate and infrastructure investors. The company plans to use the funds to expand its hyper-charging station network across the highways in South India. Relux Electric plans to install 20 new hyper-EV charging stations in the next eight months. The hypercharging stations can allow up to ten small to medium-sized cars, ten high-end cars, two buses, and one truck to charge simultaneously.

Electric mobility company GreenCell Mobility has secured ₹3.07 billion (~$37 million) in green financing from Japan-based bank Sumitomo Mitsui Banking Corporation to deploy a fleet of 350 electric buses across eight cities in the state of Uttar Pradesh. The deal represents the first time a Japan-based bank has provided project financing for an electric mobility project in India, the company claimed.

Princeton NuEnergy, a lithium-ion battery recycling company, announced an additional $10.3 million in Series A Funding. Last year, the company also raised $16 million in its Series A funding round, bringing its total funding to over $26 million. This additional funding will support the company in constructing an Advanced Black Mass and Cathode Manufacturing Center in the southeastern U.S.

Active Surfaces, a U.S.-based flexible solar panel startup, secured $5.6 million in an oversubscribed pre-seed funding round. Safar Partners, a deep tech venture capital fund, led the funding round. Spun out of MIT, the company is developing lightweight, flexible solar panels can be integrated into virtually any surface, having applications from small consumer products to large commercial, office, and industrial buildings.

For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.

Read last week’s funding roundup.