From: Mercom Capital Group

NeoVolta, a U.S.-based energy storage solutions provider, has entered into agreements for $13 million in private placement financing led by Infinite Grid Capital (IGC). The funding is structured to offer both immediate and future capital support for the company’s planned domestic manufacturing initiative and will be used to accelerate growth. A significant portion of the funding is allocated to advance this initiative, under a memorandum of understanding with third parties, to establish and operate a battery energy storage manufacturing plant in Georgia.

Moment Energy, an electric vehicle battery repurpose company, has secured $5 million in growth financing from TD Innovation Partners, the innovation banking division of The Toronto-Dominion Bank. The company will use the funds to accelerate the repurposing of lithium-ion batteries into safe, high-performance, and compliant energy storage systems for commercial, industrial, and utility applications. To meet the growing domestic demand for its Luna BESS, the company plans to boost production.

EQORE, a distributed battery storage company, has raised $1.7 million in an oversubscribed seed funding round. The round saw participation from Massachusetts Clean Energy Center, Henry Ford III of Ford Motor Company, and Jonathan Kraft of The Kraft Group. It also included investors such as industry operators Andrew Slifka, Mitch Coddington, and the Betti family, led by Nicholas Betti. Veteran entrepreneur Luke Merrow and tech executives Kent Helfrich and Kristin Welch, via Pointe Angels. The funding is intended to help the company expand its team and accelerate deployments at its manufacturing facilities.

Rooftop solar solutions and products company Fujiyama Power Systems debuted on the Indian stock exchanges after its initial public offering (IPO) of ₹8.28 billion (~$93.5 million) was oversubscribed 2.14 times. The price band was set at ₹216(~$2.4) to ₹228(~$2.6) per equity share, with a face value of ₹1(~$0.11). The IPO saw bids for 56 million shares, exceeding the 26 million shares on offer. Qualified institutional buyers led the demand, with a subscription rate of 5.15 times, followed by the employee-reserved portion at 1.47 times, and retail individual investors at 100%.

AMPYR Distributed Energy (ADE), an investor in renewable energy solutions and part of the AGP Group, has announced the acquisition of Shawton Energy, a company that provides fully-funded solar energy solutions to U.K. businesses. The acquisition is expected to strengthen ADE’s position in the U.K. distributed energy market, further expanding its customer base and operational capabilities through Shawton’s experience and commercial relationships.

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.