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					</table>Peak Energy, a sodium-ion battery manufacturer, <a href="https://mercomcapital.com/peak-energy-secures-55-million-in-series-a-funding/" target="_blank" rel="noopener">secured</a> $55 million in a Series A funding round led by Xora Innovation, Temasek’s Early-Stage deep-tech investing platform. The company will use this funding to commercialize sodium-ion battery technology and launch a pilot program. This round also involved new investors, including Lachy Groom, Tishman Speyer, TechEnergy Ventures, Doral Energy-Tech Ventures, DETV-Scania Invest, and existing investor Eclipse and strategic partner TDK Ventures.
The Asian Development Bank (ADB) has <a href="https://www.mercomindia.com/adb-240-million-loan-rooftop-solar-india">approved</a> loans of $240.5 million to finance rooftop solar systems in India. The financing will be provided to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD) to offer loans to developers and end-users for installing rooftop solar systems across India. This funding will support the second and third tranches of the Multi-tranche Financing Facility Solar Rooftop Investment Program, approved by ADB in 2016.
NineDot Energy, a developer of community-scale clean energy projects, <a href="https://mercomcapital.com/ninedot-energy-upsizes-revolving-credit-facility-to-50-million/">closed</a> an additional $25 million revolving credit debt facility provided by NY Green Bank, a New York State Energy Research and Development Authority division. The facility extends and increases the early-stage standalone storage financing completed by NY Green Bank last year to $50 million. The company has stated that it has secured over $400 million in total to acquire, develop, and operate battery storage sites across the New York City boroughs, Westchester County, and Long Island.
itselectric, a provider of electric vehicle charging solutions, <a href="https://mercomcapital.com/ev-charging-startup-itselectric-raises-6-5-million-in-seed-funding/">secured</a> $6.5 million in a seed funding round, bringing its funding total to $11.8 million. This round was led by Failup Ventures and Uber Technologies, with participation from Halogen Ventures, The Partnership Fund for NYC, Pulse Fund, Newlab, Gratitude Railroad, Tale VP, Equity Alliance Fund, LACI Impact Fund, and The Helm. The funds acquired will be used to deploy pilot EV chargers across several major U.S. cities in 2024, including Boston, Los Angeles, Detroit, Jersey City, and San Francisco.
Electric vehicle (EV) ride-hailing startup MyPickup <a href="https://www.mercomindia.com/ride-hailing-firm-mypickup-secures-%E2%82%B915-million-in-seed-funding">raised</a> ₹15 million (~$179,293) in seed funding led by Inflection Point Ventures (IPV). MyPickup plans to use the funds to increase its fleet size and efficiency per vehicle and develop an exclusive scheduling and route optimization algorithm, mobile application, brand building, and operations management optimization. The company operates a fleet of seven electric autorickshaws, serving 45 customers. It has been facilitating 800 rides per month and aims to penetrate large apartment complexes within a few micro markets in a city for office and school rides.
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/">here</a>.
Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-naked-energy-raises-22-million/">roundup</a>.

Funding and M&A Roundup: Peak Energy Secures $55 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-energy-storage-developer-ninedot-raises-25-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
NineDot Energy, a developer of community-scale clean energy projects, <a href="https://mercomcapital.com/energy-storage-developer-ninedot-energy-raised-25-million/" target="_blank" rel="noopener">closed</a> a $25 million revolving credit debt facility provided by NY Green Bank, a division of the New York State Energy Research and Development Authority. This financing will enable NineDot Energy to build more battery storage projects that support New York’s shift to greener energy sources.
France-based energy conglomerate TotalEnergies is <a href="https://www.mercomindia.com/totalenergies-completes-full-acquisition-billion" target="_blank" rel="noopener">acquiring</a> full ownership of renewable energy company Total Eren. The deal follows a strategic agreement signed in 2017 between the two, which granted TotalEnergies the right to acquire the entirety of Total Eren shares after five years. With the purchase, TotalEnergies will increase its stake from approximately 30% to 100%, fully integrating Total Eren’s teams within its renewables business unit.
Farizon Auto, the new energy commercial vehicle manufacturer established by Geely Holding Group, has <a href="https://www.mercomindia.com/farizon-auto-600-million-series-a-funding" target="_blank" rel="noopener">raised</a> $600 million in its Series-A funding round led by Boyu Capital and Yuexiu Industrial Fund. The influx of capital is expected to fuel Farizon’s endeavors in further research and development, ecosystem development, and global expansion. The new energy vehicles include battery-electric, plug-in hybrid, and fuel-cell electric vehicles.
Denham Capital, a global energy transition investment firm, <a href="https://www.mercomindia.com/equinor-to-acquire-brazil-2-gw-renewables-portfolio" target="_blank" rel="noopener">announced</a> the signing of an agreement with Equinor, a Norway-based energy company, for the sale of Rio Energy’s select assets, the Rio Energy trade name, and the management team platform. The acquired assets include the 0.2 GW Serra da Babilônia 1 producing onshore wind farm located in the northeastern state of Bahia, a 0.6 GW pre-construction solar PV portfolio, and a project pipeline of approximately 1.2 GW.
Energy Dome, a provider of long-duration energy storage solutions, has <a href="https://mercomcapital.com/long-duration-energy-storage-solutions-provider-energy-dome-gets-16-7-million/" target="_blank" rel="noopener">closed</a> the second tranche of its Series B funding round with €15 million (~$16.7 million), bringing the total amount raised in the oversubscribed round to €55 million (~$61 million). The company secured €40 million (~$44 million) in the first tranche of its Series B round earlier this year. Eni Next and Neva SGR led the round, joined by previous investors. According to Mercom Data, Energy Dome has raised $83 million so far.
Terabase Energy, a digital solutions provider for solar power plants, <a href="https://mercomcapital.com/terabase-raises-25-million-to-accelerate-its-solutions-for-solar-power-plants/" target="_blank" rel="noopener">received</a> $25 million in a new financing round led by Fifth Wall, with participation from EDP Ventures and existing investors. This financing round will be used to support the commercial scale-up of the company’s recently launched Terafab construction automation system.
Group14 Technologies, a manufacturer of silicon battery technology, has <a href="https://group14.technology/en/news/group14-technologies-acquires-schmid-silicon-in-milestone-european-expansion" target="_blank" rel="noopener">acquired</a> Schmid Silicon Technology Holding, a silane producer based in Europe, to meet the growing demand for silicon battery technology worldwide. As part of the acquisition, Group14 will bring online Schmid Silicon’s silane factory in Spreetal (Schwarze Pumpe), Germany, to support its expanding European operations. The acquisition will ensure that Group14 has a sufficient supply of silane gas, a critical precursor for its silicon battery technology.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-pvcase-raises-100-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Energy Storage Developer NineDot Raises $25 Million

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