From: Mercom Capital Group

Allume Energy, a provider of residential solar solutions, has secured £4 million (~$4.6 million) in funding from E.ON UK, an energy company. The Australia-based company, with its proprietary SolShare technology, which is designed to directly connect multiple apartments to a single rooftop solar system, aims to assist customers who have been unable to access the energy generated by the solar panels on their buildings.

Electric motorcycle manufacturer Oben Electric has raised an additional ₹500 million (~$5.8 million) in May 2025 through an extended Series A funding round. The extended round saw participation from new and existing investors, including Helios Holdings, the Sharda family office, and the Kay family. This follows the company’s initial Series A funding of ₹500 million (~$5.8 million) secured in January 2025, increasing the total amount raised in this round to ₹1 billion (~$11.6 million).

Electric vehicle charging software platform Kazam has raised $6.2 million in a Series B funding round from the International Finance Corporation and existing investors Vertex Ventures SEA and India, and Avaana Capital Advisors. The newly raised funds will be used to support the company’s expansion across markets with its energy transition tools.

ARRAY Technologies, a company that provides solar tracking technology products, software, and services for utility-scale solar energy projects, has entered into a definitive agreement to acquire APA Solar, a provider of engineered foundation solutions and fixed-tilt mounting systems for solar projects. The transaction values APA at approximately $179 million and is expected to close in the third quarter of 2025.

Ares Management Corporation, an alternative investment manager, has entered into a definitive agreement to acquire a 20% stake in Plenitude, an energy transition company controlled by Eni, for approximately €2 billion (~$2.3 billion) through Ares Alternative Credit funds. The acquisition values Plenitude at over €12 billion (~$14 billion), and the deal is subject to regulatory approvals.

Solar solutions and electric vehicle charger manufacturer Servotech Renewable Power System has entered a definitive agreement to acquire a 27% stake in post-money valuation in solar module manufacturing company Rhine Solar. The cost of the acquisition was not disclosed. This acquisition is part of Servotech’s plan to expand its renewable energy portfolio and enhance its position as a comprehensive solar solutions provider.

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.