Funding and M&A Roundup: Power Management Company Eaton Acquires Green Motion
Solar monitoring and analytics platform Prescinto closes $3.5 million in seed funding
From: Mercom Capital Group
Power management company Eaton has acquired Green Motion, a manufacturer of electric vehicle charging hardware and related software.
Soltage, an independent power producer, and Harrison Street, an investment management firm focused on alternative real assets, announced a $250 million partnership to fund solar and other clean energy infrastructure assets developed by Soltage. The partnership will deploy 450 MW of new distributed solar and storage projects across the U.S. These assets will be owned by the partnership and operated by Soltage.
Chariot, Africa focused transitional energy company, revealed that it had signed share purchase agreements for the acquisition of the business of Africa Energy Management Platform (AEMP), a renewable and hybrid energy project developer, for consideration of up to $2 million payable primarily in Chariot Ordinary Shares, representing up to c.4% of Chariot’s enlarged share capital.
Solar monitoring and analytics platform Prescinto closed a $3.5 million seed round funding. The round was led by Venture Catalysts, with participation from Inflection Point Ventures, Mumbai Angels, and Lets Venture, amongst other prominent angel investors and funds. The funds would be used for international expansion, primarily the U.S. market, and further IP (intellectual property) development, pushing for significant artificial intelligence developments.
Bharti Airtel, one of India’s largest telecom companies, has joined hands with Avaada Energy and decided to buy an additional 3.3% stake in the special purpose vehicle Avaada MHBuldhana to procure 21.32 MW of solar power under the group-captive arrangement. The acquisition will help the telecom giant to reduce its carbon footprint.
Japan International Cooperation Agency (JICA) has signed a loan agreement for up to JPY 10 billion (₹6.65 billion) with Tata Cleantech Capital (TCCL), an Indian non-banking financial company. Based on Green Loan Principles, the loan agreement will help TCCL offer loans to businesses across India that focus on renewable energy generation, electric vehicles, and energy efficiency.
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.