From: Mercom Capital Group

Energy Storage Solutions Provider Return has secured €300 million (~$348 million) in growth equity from APG, on behalf of its pension fund client ABP, acquiring a minority stake through the transaction. The new capital will accelerate the expansion of Return’s battery energy storage platform across Europe. As part of the deal, the two companies have established a long-term strategic partnership designed to provide customers with reliable and flexible energy solutions for portfolio balancing, to manage renewable flows, and to ease grid congestion across Europe.

enspired, an optimizer for battery energy storage systems, has extended its Series B funding over €40 million (~$47 million), with participation from new investor Future Energy Ventures. The round also includes renewed commitments from Zouk Capital, EnBW New Ventures, Banpu NEXT, PUSH VC, and 360 Capital. This funding extension follows the company’s €25.5 million (~$27.5 million) Series B round announced in May 2024.

Allye Energy, a U.K.-based clean-tech company focused on delivering intelligent, modular, and sustainable battery energy storage solutions, raised $2.5 million in seed funding, led by returning investors Elbow Beach and Alpha Future Funds, to accelerate the rollout of its smart battery energy storage technology. The strategic funding round includes both equity and debt financing, offering Allye Energy the flexibility to scale up manufacturing and delivery of its energy storage systems.

The Advanced Carbons Company (TACC), a part of LNJ Bhilwara Group, has secured a credit facility of ₹12.3 billion (~$139.93 billion) from the State Bank of India to finance its upcoming lithium-ion battery-grade graphite anode material manufacturing plant in Dewas, Madhya Pradesh. In its first phase, TACC plans to produce 20,000 metric tons (MT) of active anode materials annually, with a planned scale-up to 100,000 MT. The company is also advancing the commercial production of graphene and its derivatives, targeting over 4,000 MT annually.

The board of directors of Refex Green Power, a wholly-owned subsidiary company of Refex Renewables and Infrastructure, has approved the sale of its entire 74% equity stake in Flaunt Solar Energy, a step-down subsidiary. The stake will be sold at face value equal to cost for ₹74,000 (~$837), payable in cash, translating to ₹10 (~$0.11) per share based on a valuation that places the equity fair value in negative territory, according to a bourse filing.

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.