From: Mercom Capital Group

First Solar, a U.S.-based solar module manufacturer, has secured a $1.5 billion revolving credit facility. The agreement establishes a senior unsecured five-year facility with the option to increase the aggregate commitments under the facility by an additional $1 billion, subject to certain conditions and commitments from debt financing sources.

ARRAY Technologies, a company that provides solar tracking technology products, software, and services for utility-scale solar energy projects, has upsized and extended its existing revolving credit facility from $166 million to $370 million. According to the company, the facility enhances its liquidity profile and provides additional flexibility to support operational execution, working capital needs, and global growth initiatives.

ESS Tech, a manufacturer of iron flow long-duration energy storage solutions, has announced the acquisition of the intellectual property and assets of iron-salt battery company VoltStorage. VoltStorage filed for bankruptcy last year amid challenging market conditions, shifting investment cycles, and strategic headwinds. As part of the transaction, VoltStorage’s key executive and engineering teams will join ESS.

Rio Tinto, a multinational mining company, has announced that it now owns a 53.9% stake in Nemaska Lithium, a Canadian mining company. In 2025, Rio Tinto acquired a 50% stake in Nemaska Lithium through the acquisition of Arcadium, a lithium chemicals producer. The acquisition also comprises the lithium hydroxide plant in Bécancour and the Whabouchi spodumene mine in the Eeyou Istchee James Bay region of Québec.

Intertek Group, a global total quality assurance provider to industries, has announced the acquisition of Aerial PV Inspection, a provider of TEK-powered inspection and diagnostic solutions for solar PV systems. This latest acquisition is expected to strengthen Intertek CEA’s end-to-end quality assurance offering for the solar industry.

Battery solutions provider Coulomb Litech has raised ₹200 million (~$2.21 million) in its latest seed round, aiming to accelerate the electrification of medium and heavy-duty electric vehicles through its fast-charging battery technology. The funding will be used to develop high-performance battery solutions designed for the toughest use cases. Over the past five years, Coulomb Litech has deployed its fast-charging batteries across e-tractors, material-handling equipment such as forklifts, light commercial vehicles, and cranes.

Electric mobility startup, Pluto Mobility, has raised $2 million in seed funding to develop its electric vehicle platform for last-mile delivery. The funding round was led by Version One Ventures, with participation from gradCapital and operators across the logistics and hardware sectors. The seed funding marks Pluto’s first external capital raise. The company stated that the capital will be deployed to advance engineering development, expand its team, and prepare for pilot deployments scheduled for 2026.

Electric vehicle charging network operator Statiq has raised about ₹18 million through a mix of debt and equity. The funding round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings. The fresh capital will be used to aggressively expand its charging infrastructure and deepen its footprint across tier-1 and tier-2 cities. A significant portion of the investment will be used to deploy more DC fast chargers along key highway corridors.

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.