From: Mercom Capital Group

Hybrid Energy Storage Solutions, an energy storage solutions provider, secured €12 million (~$13.6 million) in a funding round. The funding round saw participation from ABB, SC Net Zero Ventures (managed by Suma Capital), and VERBUND X Ventures, a venture capital unit of Austria’s energy supplier VERBUND. The company offers turnkey energy storage and grid asset optimization solutions for renewable integration, distribution, and transmission grid applications, electric vehicle infrastructure, and microgrids, both isolated and connected.

Partners Group, a private equity firm, has agreed to acquire PowerTransitions, a utility-scale project developer in the U.S., from EnCap Investments. PowerTransitions acquires and redevelops retiring thermal power assets with existing grid connections that can be enhanced or modified to integrate new generation through the co-location of solar or battery energy storage projects, or both combined. Partners Group also intends to invest over $450 million in capital to accelerate the company’s future growth.

Swap Robotics, a utility-scale solar robotic operations company, has secured $3 million in funding, bringing the company’s total funding raised to date to $15 million. Silicon Ranch, a developer, owner, and operator of solar projects, provided this funding. The investment from Silicon Ranch follows previous investments in Swap Robotics, including a $7 million investment led by SOLV Energy and a $3 million investment from Array Technologies.

Climate technology-focused asset financing company Stride Green has raised $3.5 million as part of its seed funding round led by Micelio Technology Fund, Incubate Fund Asia, and other strategic investors. These funds will be utilized to provide innovative, tech-enabled financing and leasing solutions for India’s clean energy transition sectors, such as renewable energy, electric mobility, and battery storage. The funds will also be used to expand the company’s team, bringing in critical expertise to strengthen capabilities and support future growth.

Eternal Sun, a provider of solar module testing solutions, has acquired the key assets of WAVELABS, a company that develops LED-based solar simulators for solar cell measurement.  The combined product portfolio is expected to offer a full spectrum of solar testing technology solutions. The acquisition was structured as an asset deal, resulting in the formation of a new subsidiary, WAVELABS Eternal Sun, which will be a wholly owned subsidiary of Eternal Sun Group and will be based in Leipzig, Germany.

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.