From: Mercom Capital Group

Quino Energy, a company developing water-based organic flow batteries, raised $10 million in Series A funding from Atri Energy Transition, a company focused on the deployment of Long Duration Energy Storage. The funding agreement also allows the company to access an additional $6 million in equity funding if necessary, bringing the total investment to up to $16 million. The company will use this funding to increase the production of its proprietary organic flow battery electrolyte beyond the U.S. and demonstrate it in real-world field pilot projects by pairing it with commercially available flow battery hardware.

Solfium, a company that provides integrated solar energy solutions, has raised the initial $7 million equity investment in its $10 million Series A funding round. The funding was led by Accion and ALIVE Ventures, with participation from Kamay Ventures. Through partnerships with financial institutions, Solfium offers financing options, helping to increase solar adoption for large businesses and micro, small, and medium-sized enterprises. With this new funding, the company plans to reach businesses, including underserved owner-managed operations which will benefit from financial inclusion initiatives powered by its technological stack and partnerships.

Flux XII, a company developing advanced materials for aqueous flow batteries, has raised $3.95 million in seed funding. The funding round was led by The Grantham Foundation, with participation from the Wisconsin Alumni Research Foundation (WARF), Desai Ventures, and gener8tor. With this funding, the company has already increased electrolyte and membrane production in industrial facilities and started testing multiple kilowatt-scale prototypes.

Waaree Forever Energies, a wholly owned subsidiary of Waaree Energies, has executed a share purchase agreement to acquire a 100% stake in renewable solutions provider, Sunbreeze Ninth Cloud. The acquisition is subject to the fulfillment of certain conditions precedent and is expected to be completed by November 30, 2025, or on a later date mutually agreed upon by the parties. According to Mercom sources, the acquisition is of a solar project with a capacity of nearly 50 MW in Maharashtra. Waaree has been acquiring multiple companies in the power sector.

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.