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					</table><p>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-energy-storage-firm-caban-systems/" target="_blank" rel="noopener">Mercom Capital Group</a></p>
<p><strong>Caban Systems, a California-based provider of energy storage solutions, </strong><a href="https://mercomcapital.com/energy-storage-company-caban-systems-raises-51-million/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $51 million in Series B Funding</strong> to help scale domestic battery manufacturing capacity and expand its global footprint. The round was led by BCP Ventures with participation from Ontario Power Generation Pension Fund, Ember Infrastructure, Portfolia, and Inspiration Ventures.</p>
<p><strong>U.S.-based residential solar company Sunrun </strong><a href="https://mercomindia.com/sunrun-expand-assets-loan-835-million/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> $835 million in non-recourse financings</strong> to expand its assets that will help the company maintain the growth trajectory across various segments, including energy storage and diverse energy services. Of the cumulative closure, Sunrun closed a $600 million non-recourse syndicated bank facility or senior credit facilities to support a 335 MW portfolio of leases and power purchase agreements. The facility consists of an amortizing loan of $575 million and a debt service reserve letter of credit worth $25 million.</p>
<p><strong>Nashville-based Silicon Ranch, a renewable energy developer, and battery storage solutions provider, has <a href="https://mercomindia.com/silicon-ranch-raises-600-million-equity-capital/" target="_blank" rel="noopener">raised</a> $600 million </strong>to help accelerate its growth strategy for new projects and expand its employee base. To execute its business plan, Silicon Ranch plans to grow its team in 2023 to support engineering, procurement, and construction for its contracted pipeline.</p>
<p><strong>Bengaluru-based electric vehicle charging aggregation platform ElectricPe </strong><a href="https://mercomindia.com/electricpe-raises-5-million-in-funding/" target="_blank" rel="noopener"><strong>closed</strong></a><strong> a pre-series A funding round of $5 million</strong>, taking the company&#8217;s total capital raised in the last 12 months to $8 million. The company said it will use the funds to deepen technology investments and scale its operations. The funding round was led by Green Frontier Capital, Blume Ventures, and Micelio Fund, while notable investors from Dubai NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels also participated in the fundraising.</p>
<p><strong>Husk Power Systems, a solar microgrids operator, has </strong><a href="https://mercomindia.com/husk-power-secures-debt-financing-to-expand-operations/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $750,000 loan</strong> from the German Investment Corporation –  Deutsche Investitions- und Entwicklungsgesellschaft to support the company&#8217;s expansion of India operations and build eight new community solar microgrids in Nigeria. The company currently operates more than 120 microgrid sites across rural North and East India with a total power capacity of 3.6 MW.</p>
<p><strong>Caterpillar, a manufacturer of construction and mining equipment, announced it is </strong><a href="https://www.prnewswire.com/news-releases/caterpillar-announces-investment-in-lithos-energy-inc-to-further-battery-pack-development-and-manufacturing-301715424.html" target="_blank" rel="noopener"><strong>investing</strong></a><strong> an undisclosed amount in Lithos Energy</strong>, a U.S.-based battery technology company that produces lithium-ion battery packs. The funding will enable Lithos to accelerate technology development and scale up manufacturing capacity. Caterpillar plans to use Lithos&#8217; expertise in battery pack manufacturing to help in the development of their electrified products.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors.</p>
<p>Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-rabobank-invests-in-battery-energy-storage-project-developer/" target="_blank" rel="noopener">roundup</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/dayanand-k/" class="vcard author" rel="author"><span class="fn">Dayanand K</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Funding and M&A Roundup: Energy Storage Firm Caban Systems Raises $51 Million

<p><a href="https://ratedpower.com/" target="_blank" rel="noopener">RatedPower</a>, a Spain-based developer of design and optimization software for utility-scale solar projects, has raised €5.3 million (~$6.1 million) in series A funding. The round was led by <a href="https://seayaventures.com/" target="_blank" rel="noopener">Seaya Ventures</a>, a European and Latin-American venture capital firm based in Spain, investing in sustainable energy technology companies.</p>
<p>The funds will be utilized to drive international expansion in key solar markets like the United States. It will also be used to expedite new products and feature developments to accelerate RatedPower&#8217;s software-as-a-service (SaaS) suite for renewables.</p>
<p>&#8220;Over the past four years, we&#8217;ve built a unique SaaS platform that has smoothed out the process of building solar plants in almost every country on the planet,&#8221; said Andrea Barber, co-founder, and CEO, RatedPower.</p>
<p>The company emphasizes that seeking systemic efficiency is the only effective way to fight climate change and deliver on the Paris Agreement. However, it argues that designing and engineering solar projects to estimate costs and energy production is complex and overwhelming.</p>
<p>RatedPower&#8217;s software, pvDesign, the company claims, accelerates the design and engineering process of solar photovoltaic projects. The company maintains it helps corporations to boost their efficiency and reduce the construction costs of PV projects and levelized cost of energy while increasing accuracy and assets profitability.</p>
<p>According to a <a href="https://mercomindia.com/us-solar-market-adds-record/" target="_blank" rel="noopener">report</a> by Solar Energy Industries Association (<a href="https://www.seia.org/" target="_blank" rel="noopener">SEIA</a>) and <a href="https://www.woodmac.com/" target="_blank" rel="noopener">Wood Mackenzie</a>, solar accounted for 58% of all new power capacity additions in the United States. About 5 GW of new solar capacity was installed in Q1 2021, a new Q1 record, and a 46% increase over Q1 2020. The utility-scale sector accounts for a majority of these installations, with a Q1 record of 3.6 GW. SEIA has also <a href="https://mercomindia.com/us-solar-industry-new-goal/" target="_blank" rel="noopener">increased</a> its target for Solar+ Decade to account for 30% of overall power generation in the United States by 2030. The previous target was 20% by 2030.</p>
<p>RatedPower claims it has more than 1,300 users, including clients like Iberdrola, Engie, BayWa, AES, Clenera, Sungrow, Burns &amp; McDonnell, Celsia, Shell, Samsung in pvDesign, having reached ~2,000 GW simulated in over 130 countries.</p>
<p>According to Mercom&#8217;s <a href="https://mercomcapital.com/product/9m-q3-2021-solar-funding-ma-report/" target="_blank" rel="noopener">9M and Q3 2021 Solar Funding and M&amp;A Report</a>, in 9M 2021, the solar sector raised $2.2 billion in VC funding in 39 deals, 466% higher compared to $394 million in 29 deals in 9M 2020.</p>
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Solar Software Developer RatedPower Raises $6 Million in Series A Funding

Author: Dayanand K

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