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					</table><p><strong>Peak Energy, a sodium-ion battery manufacturer, </strong><a href="https://mercomcapital.com/peak-energy-secures-55-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $55 million in a Series A funding round </strong>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.</p>
<p><strong>The Asian Development Bank (ADB) has </strong><a href="https://www.mercomindia.com/adb-240-million-loan-rooftop-solar-india"><strong>approved</strong></a><strong> loans of $240.5 million to finance rooftop solar systems</strong> 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.</p>
<p><strong>NineDot Energy, a developer of community-scale clean energy projects, </strong><a href="https://mercomcapital.com/ninedot-energy-upsizes-revolving-credit-facility-to-50-million/"><strong>closed</strong></a><strong> an additional $25 million revolving credit debt facility</strong> 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.</p>
<p><strong>itselectric, a provider of electric vehicle charging solutions, </strong><a href="https://mercomcapital.com/ev-charging-startup-itselectric-raises-6-5-million-in-seed-funding/"><strong>secured</strong></a><strong> $6.5 million in a seed funding round, bringing its funding total to $11.8 million</strong>. 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.</p>
<p><strong>Electric vehicle (EV) ride-hailing startup MyPickup </strong><a href="https://www.mercomindia.com/ride-hailing-firm-mypickup-secures-%E2%82%B915-million-in-seed-funding"><strong>raised</strong></a><strong> ₹15 million (~$179,293) in seed funding led by Inflection Point Ventures (IPV).</strong> 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.</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/">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-naked-energy-raises-22-million/">roundup</a>.</p>


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


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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-mecaware-raises-42-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Mecaware, a battery recycling company, </strong><a href="https://mercomcapital.com/battery-recycling-company-mecaware-raises/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €40 million (~$42 million) in funding for the recycling of battery production scrap (Gigafactories Scrap – ScrapCO2MET project)</strong>. The project is expected to be operational in 2025. The project is expected to produce 50 tons of recycled metal annually, including lithium, nickel, cobalt, and manganese. The funding was raised from a pool of investors organized by Crédit Mutuel Innovation and the SPI2 fund managed on behalf of the State of France by Bpifrance as part of the France 2030 initiative.</p>
<p><strong>Amperon Holdings, a provider of energy analytics solutions, </strong><a href="https://mercomcapital.com/energy-analytics-platform-amperon-holdings-raises/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $20 Million in a Series B funding round</strong> led by Energize Capital. Other participants in this round include the D. E. Shaw group, Veriten, and existing investor HSBC Asset Management. The round helped bring the company’s total funding raised to date to $30 million. The company aims to use the funding to unlock more value from grid data and advance electricity forecasting innovation.</p>
<p><strong>Bolt.Earth, an India-based EV infrastructure and software company, has </strong><a href="https://www.mercomindia.com/bolt-earth-20-million-product-portfolio-expansion" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $20 million</strong> in a recent funding round led by a consortium of existing and new investors, including Union Square Ventures, Prime Venture Partners, and ITIGO Funds. The company offers an operating system, a connected platform technology that helps manufacturers develop, operate, and monitor their charging networks and vehicles.</p>
<p><strong>Peak Energy, a sodium-ion battery manufacturer, <a href="https://mercomcapital.com/sodium-ion-battery-manufacturer-peak-energy-secures-10-million/" target="_blank" rel="noopener">secures</a> $10 million in a funding round </strong>led by Eclipse, with significant participation from strategic partner TDK Ventures. The financing will help the company develop its sodium-ion battery solutions and lay the groundwork for building out manufacturing in the U.S. Beginning in 2025. Peak Energy will start deploying its sodium-ion systems while simultaneously building a domestic, giga-scale battery factory with plans to open in 2026.</p>
<p><strong>Australian battery recycling startup Renewable Metals </strong><a href="https://mercomcapital.com/battery-recycling-startup-renewable-metals-raises/"><strong>closed</strong></a><strong> an A$8 million (~$5 million) investment round</strong> to scale and commercialize its lithium-ion battery recycling technology. The funding was led by Asia Pacific-based venture capital firm Investible via its early-stage Climate Tech Fund, with additional participation from the U.S.-based venture capital investor, the Grantham Foundation for the Protection of the Environment, and CEFC. The investment round is expected to support Renewable Metals in developing a pilot plant in Perth, Australia.</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/">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-group14-secures-funding" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Battery Recycling Company Mecaware Raises $42 Million

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