Funding and M&A Roundup: Ascend Elements Secures $300 Million in Funding

Xurya Daya Raises $33 Million in Series A Funding

November 2, 2022


From: Mercom Capital Group

Ascend Elements, a provider of closed-loop battery materials solutions, raised $300 million in equity and debt financing. The funding round includes $200 million in Series C equity investments led by Fifth Wall Climate and joined by SK ecoplant. Other new investors include Oman Investment Authority, Lithium Americas Corporation, GLy Capital Management’s New Mobility Fund, Mirae Asset Capital & LS, and Shinhan GIB.

Xurya Daya, a solar power rental and installation startup, received additional Series A funding from global trading and investment company Mitsui and Surya Semesta Internusa Tbk, bringing the total Series A funding round to $33 million. According to Eka Himawan, Managing Director and Co-founder of Xurya, the company plans to allocate funding for expanding solar power development.

AM Batteries, a manufacturer of li-ion battery electrodes, announced the close of its $25 million Series A financing round. Anzu Partners led the oversubscribed funding round, with participation from TDK Ventures, Foothill Ventures, Toyota Ventures, Zeon Ventures, SAIC Capital, VinFast, Doral Energy-Tech Ventures, and Creative Ventures.

Masdar, a developer of commercial-scale renewable energy projects, announced the acquisition of UK-based battery energy storage system developer Arlington Energy for an undisclosed amount. Based in London, Arlington Energy develops, builds, operates, and finances flexible energy solutions and has taken over 170 MW of assets through to operation in the past two years.

Octopus Energy Group, a British renewable energy group specializing in sustainable energy, provides £110 million (~$110 million) on behalf of its Sky Fund for Manchester-based EV Charging provider Be.EV The funding will help Be.EV to scale and install new charge points across the U.K. With octopus energy already supplying all Be.EV chargers with electricity.

For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.

Read last week’s funding roundup.