Telangana Invites Bids for DPR of 56 MW Solar Projects

Solarium Green Bags 7 MW Rooftop Solar Contract from NVVN

Classic Signages Wins NVVN’s 6.3 MW Solar Project Auction

Alpex Solar Posts 423% YoY Profit Increase in Q3, Expands Module Capacity  

ReNew’s Q3 FY 2025 Revenue Up Slightly, Lower Wind PLF Bites

Daily News Wrap-Up: Government Amends Renewable Project Bidding Guidelines

CERC Adopts Tariffs for SECI’s 1.2 GW Wind-Solar Hybrid Power Projects

Vikram Solar Boosts Module Production with 1 GW Expansion in West Bengal

Madhya Pradesh Floats Tenders for 2.21 MW Rooftop Solar Projects

Record 1.7 GW Community Solar Added in the U.S. in 2024; Long-Term Growth Uncertain


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/01/amazon_polly_75530.mp3?version=1737529539">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-moment-energy-secures-15-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Moment Energy, an electric vehicle (EV) battery repurposing company, </strong><a href="https://mercomcapital.com/moment-energy-secures-15-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $15 million in a Series A funding round</strong>, 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.</p>
<p><strong>responsAbility, a Switzerland-based impact asset manager, has </strong><a href="https://www.mercomindia.com/responsability-injects-20-million-in-ev-manufacturer-euler-motors" target="_blank" rel="noopener"><strong>announced</strong></a><strong> an investment of up to $20 million (₹1.7 billion)</strong> 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.</p>
<p><strong>Li-Cycle, a lithium-ion battery recycling company, </strong><a href="https://mercomcapital.com/li-cycle-closes-15-million-underwritten-public-offering/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the closing of its previously announced underwritten public offering, raising approximately $15 million</strong> 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.</p>
<p><strong>Ecozen, a Pune-based company focused on clean energy solutions, has </strong><a href="https://www.mercomindia.com/clean-energy-tech-firm-ecozen-raises-23-million-in-debt-funding" target="_blank" rel="noopener"><strong>raised</strong></a><strong> over $23 million in debt funding.</strong> Investors for this round included responsAbility Investments, Northern Arc Capital, and Maanaveeya Development &amp; Finance. The company plans to use the funds to scale its current businesses and expand its operations within India and abroad.</p>
<p><strong>Electric vehicle charging solutions provider Bolt.Earth </strong><a href="https://www.mercomindia.com/bolt-earth-raises-5-million-in-series-a-funding" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $5 million in a series A+ funding round</strong>. 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.</p>
<p><strong>Hydro, a renewable energy company, has signed an agreement with Northvolt, a battery manufacturer, to </strong><a href="https://mercomcapital.com/hydro-acquires-remaining-shares-battery-recycling-company-hydrovolt/" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> Hydrovolt’s remaining shares for NOK 78 million (~$7 million)</strong>. 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.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-eqt-to-acquire-scale-microgrids" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Moment Energy Secures $15 Million


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/03/amazon_polly_64568.mp3?version=1710910060">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-li-cycle-secures-strategic-investment/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Li-Cycle, a lithium-ion battery recycling company, </strong><a href="https://mercomcapital.com/li-cycle-secures-strategic-investment-from-glencore/" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into an agreement to issue a senior secured convertible note in an aggregate principal amount of $75 million </strong>from an affiliate of Glencore, a producer, recycler, and marketer of nickel and cobalt for the production of lithium-ion batteries. The funding secured from Glencore’s affiliate is expected to strengthen the company’s position and bolster its strategic partnership with Glencore.</p>
<p><strong>India-based battery materials producer LOHUM has </strong><a href="https://www.mercomindia.com/lohum-secures-series-b-funding" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹4.5 billion (~$54 million) in a series B funding </strong>from Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East, amongst other new and existing venture firms. The company will channel these funds to expand its market and scale up its battery materials recycling operations across India. The company will also expand to new energy transition materials markets in North America, the EU, the Middle East, Africa, and Asia.</p>
<p><strong>Florida-based Sunergy Renewables, a residential solar and storage firm, </strong><a href="https://www.mercomindia.com/sunergy-lists-on-nasdaq-spac-deal" target="_blank" rel="noopener"><strong>announced</strong></a><strong> it will begin trading on the Nasdaq Stock Exchange</strong> after merging with ESGEN Acquisition Corp, a special purpose acquisition company. The merged company, now called Zeo Energy Corp, will trade its shares and warrants under the ticker “ZEO” and “ZEOWW” and will be led by Sunergy’s senior management. The deal values the combined company at an implied $475 million enterprise value. The transaction raised approximately $18 million to fund its operations and growth strategy.</p>
<p><strong>Pure Lithium, a Boston-based lithium metal battery technology company, has recently <a href="https://mercomcapital.com/pure-lithium-raises-15-million-in-series-a-funding/" target="_blank" rel="noopener">secured</a> $15 million in Series A funding</strong> from Oxy Low Carbon Ventures, an Occidental (Oxy) subsidiary dedicated to advancing innovative, low-carbon technologies and business solutions.  The funding will be used to accelerate the development and commercialization of Pure Lithium’s technology. The company also plans to tap into the electrochemical processing expertise that Oxy’s chemical business provides.</p>
<p><strong>M4E Lithium, a lithium exploration company, has <a href="https://mercomcapital.com/lithium-exploration-company-m4e-lithium-secures-7-5m-to-10m-in-financing/" target="_blank" rel="noopener">secured</a> a </strong><strong>$7.5 million to $10 million </strong><strong>funding deal with Lithium Royalty Corp and the Electrification and Decarbonization fund</strong> managed by Waratah Capital Advisors. The funding is expected to propel exploration efforts across M4E&#8217;s extensive 91k hectares of mining rights in Brazil&#8217;s Lithium Valley and Borborema regions. The financing package includes an equity investment, a royalty purchase, and an option for a strategic offtake agreement (with a buyback option).</p>
<p><strong>Carbon emissions management platform Sprih recently </strong><a href="https://www.mercomindia.com/sprih-3-million-funding-global-expansion" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $3 million in a seed funding round led by Leo Capital.</strong> The funds will be used to fuel the company’s sales and marketing activities and expansion. The company, which has created an artificial intelligence platform designed to assist companies in streamlining their sustainability goals, will use the funds to expand its presence in the U.S., Europe, and other key global markets, as well as its existing customer base in India.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-phelas-secures-4-5-million-funding" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Li-Cycle Secures $75 Million Strategic Investment


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2023/02/amazon_polly_50024.mp3?version=1677566638">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Toronto-based <a href="https://li-cycle.com/" target="_blank" rel="noopener">Li-Cycle Holdings Corporation</a>, a lithium-ion battery recycler, has entered into a conditional commitment for a $375 million loan from the U.S. Department of Energy (<a href="https://www.energy.gov/" target="_blank" rel="noopener">DOE</a>) through its Advanced Technology Vehicles Manufacturing (ATVM) program.</p>
<p>Li-Cycle&#8217;s development of the first commercial hydrometallurgical resource recovery facility in North America, located near Rochester, New York, has received a significant endorsement through the conditional commitment. The commitment is the first of its kind from the DOE ATVM program for a sustainable pure-play battery materials recycling company.</p>
<p>The endorsement follows the DOE&#8217;s thorough technical, market, financial, and legal due diligence. It marks another important milestone for Li-Cycle and the lithium-ion battery recycling industry, which has the main support of the ATVM program.</p>
<p>The first-of-its-kind commercial facility in North America is poised to become a major domestic source of battery-grade materials, such as lithium, nickel, and cobalt.</p>
<p>It is currently projected that the loan will be finalized in Q2 2023.</p>
<p>The loan will have a maximum term of 12 years from the date of financial closure, and interest on the loan will be based on the 10-year U.S. treasury rates at the time of each advance.</p>
<p>Speaking on the development, Ajay Kochhar, Co-founder, president, and CEO at Li-Cycle, said, &#8220;We are delighted to receive the first conditional commitment from the DOE LPO for a resource recovery facility, as it further supports our efforts to create a sustainable domestic supply chain of battery-grade materials in the U.S. and to grow American jobs.&#8221;</p>
<p>&#8220;The Rochester Hub is a cornerstone asset for Li-Cycle and its stakeholders and will contribute to the clean energy economy. As a sustainable pure-play battery material recycling company, we expect the Rochester Hub will position Li-Cycle as a leading domestic producer of recycled battery-grade materials for accelerating electrification demand to address climate change and secure energy independence,&#8221; Kochhar added.</p>
<p>&#8220;The loan of $375 million will now supercharge Li-Cycle here in Rochester, with 270 good-paying jobs, to become one of America&#8217;s largest suppliers of recycled materials for batteries. Last year, I stood alongside Li-Cycle&#8217;s powerhouse workforce and promised I would push to deliver federal funding to spark more growth, and now thanks to the investments I secured in the Inflation Reduction Act, Rochester will help power America&#8217;s drive to lead in battery technology,&#8221; said Senator Charles Schumer.</p>
<p>With a processing capacity of up to 35,000 tons of black mass per year, equivalent to around 90,000 tons of lithium-ion battery material or 18 GWh of lithium-ion batteries, the Rochester Hub has been designed for optimal efficiency. When fully operational, the facility is projected to produce up to 8,500 tons of lithium carbonate, 48,000 tons of nickel sulfate, and 7,500 tons of cobalt sulfate on an annual basis.</p>
<p>In May last year, Li-Cycle had <a href="https://mercomindia.com/funding-and-ma-roundup-clean-energy-arcadia/" target="_blank" rel="noopener">completed</a> a $50 million aggregate investment in common shares from LG Energy Solutions and LG Chem.</p>
<p>The company also <a href="https://mercomindia.com/funding-and-ma-roundup-group14-series-c-funding/" target="_blank" rel="noopener">entered</a> into a deal with Glencore, a commodity trading and mining company, to supply manufacturing scrap and end-of-life lithium-ion batteries.</p>


Battery Recycler Li-Cycle Raises $350 Million Loan from US Energy Department

li-cycle

Get the most relevant India solar and clean energy news.

RECENT POSTS