Funding and M&A Roundup Rabobank Invests in Battery Energy Storage Project Developer

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From: Mercom Capital Group

Rabo Investments has infused an undisclosed amount in GIGA Storage, a large-scale battery energy storage project developer. The investment will enable GIGA Storage to expand its network of large-scale energy storage. GIGA Storage has 420 MWh of projects in the pipeline.

India-based automobile conglomerate and the parent company of Royal Enfield, Eicher Motors, said it would acquire a 10.35% stake in European electric motorcycle manufacturer Stark Future with an initial equity investment of €50 million (~$53.2 million). Both Royal Enfield and Stark Future will use the investment for the electrification of motorcycles. The investment will help Enfield enter the electric mobility segment.

GCL Optoelectronic Material, a subsidiary of Hong Kong-listed GCL Technology Holdings, one of China’s largest photovoltaic materials makers, has secured 500 million yuan (~$72 million) in a Series B extension round led by Temasek Holdings, Sequoia Capital China, and IDG Capital. The company will use the proceeds to upgrade the craftsmanship and equipment of its 100 MW large–area perovskite solar module assembly lines.

Suryanesia a clean energy startup that provides a SaaS platform for commercial and industrial clients to access renewable energy raised $2 million in seed funding. The round was led by Intudo Ventures with participation from several angel investors. The company intends to use the funds to grow its team to accelerate marketing efforts and project delivery. With its Solar-as-a-Service solution, the company finances, installs, operates, and maintains solar power systems on its clients’ rooftops, and the clean energy generated helps clients save on electricity bills and reduce their carbon footprint.

Samara, a provider of solar energy-based solutions, raised €4.5 million (~$4.7 million) in seed funding led by Seaya and included participation from Pelion Green Future bringing the total funding raised by the company to €6.5 million (~$6.9 million). The funding will help in the company’s expansion efforts.

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.