From: Mercom Capital Group

Moment Energy, an electric vehicle (EV) battery repurposing company, raised $15 million in a Series A funding round, bringing the company’s total funding raised to date to $52 million. The Amazon Climate Pledge Fund and Voyager Ventures co-led the funding round. The company provides second-life battery energy storage systems from repurposed EV batteries.

responsAbility, a Switzerland-based impact asset manager, has announced an investment of up to $20 million (₹1.7 billion) in New Delhi-based electric commercial vehicles manufacturer Euler Motors. The funding is part of responsAbility’s $500 million (₹42.5 billion) climate investment strategy to reduce CO2 emissions in Asia by supporting e-mobility solutions.

Li-Cycle, a lithium-ion battery recycling company, announced the closing of its previously announced underwritten public offering, raising approximately $15 million in gross proceeds. The company plans to use the net proceeds from this offering for working capital and general corporate purposes. The offering consisted of 5,000,000 units and 10,000,000 pre-funded units.

Ecozen, a Pune-based company focused on clean energy solutions, has raised over $23 million in debt funding. Investors for this round included responsAbility Investments, Northern Arc Capital, and Maanaveeya Development & Finance. The company plans to use the funds to scale its current businesses and expand its operations within India and abroad.

Electric vehicle charging solutions provider Bolt.Earth raised $5 million in a series A+ funding round. The funding round was led by Version One Ventures, a new investor and returning investors USV and Prime Venture Partners. Bolt.Earth plans to utilize the funds to scale operational capacity across India. The company also aims to develop fast charging stations for two-, three–, and four-wheelers.

Hydro, a renewable energy company, has signed an agreement with Northvolt, a battery manufacturer, to acquire Hydrovolt’s remaining shares for NOK 78 million (~$7 million). Hydro is increasing its ownership in Hydrovolt from 72 to 100% through this transaction. Hydrovolt is a battery recycling and raw materials company formed in 2020 as a joint venture between Hydro and Northvolt. The company is mainly focused on the recycling of industrial and EV batteries.

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.