Funding and M&A Roundup: Powerdot Secures $108 Million

Sosteneo acquires 49% stake in Enel Libra Flexsys

March 6, 2024


From: Mercom Capital Group

Powerdot, a provider of EV charging solutions, announced the successful closing of a €100 million (~$108 million) funding round led by Antin Infrastructure Partners and Arié Group. The investment enables Powerdot to further expand its charging infrastructure, specifically through the installation of an additional 10,000 EV charging points. The company currently operates over 5,000 charging points across some 1,300 locations and plans to install an additional 10,000 charging points at over 1,400 locations.

Sosteneo, an investment manager that specializes in greenfield infrastructure projects related to the energy transition, has signed an agreement with Enel through its subsidiary Enel Italia for the acquisition on behalf of clients of 49% of the share capital of Enel Libra Flexsys for €1.1 billion (~$1.19 billion) upon closing. Enel Libra Flexsys was established to develop and manage a large portfolio of energy transition infrastructure in Italy.

Anthro Energy, a provider of lithium-based battery solutions, announced the closing of an over-subscribed $20 million Series A funding round. Collaborative Fund led the financing, with significant participation from existing investors, including Union Square Ventures, Emerson Collective, and Voyager Ventures. Energy Revolution Ventures, Ultratech Capital Partners, Nor’easter Ventures, and Overlap Holdings also participated in the round. The funds gathered will be used to establish a Bay Area-based pilot production facility to commercialize and scale their battery technologies.

SolaREIT, a renewable energy real estate investment company, closed a revolving credit facility of $30 Million with Atlantic Union Bank (AUB). This debt funding will allow the company to continue scaling the business and expanding financing solutions for solar and storage developers and landowners. It is the second revolving credit facility the partners have closed with AUB. The first was a $15 million facility announced last year.

1KOMMA5°, a producer of energy systems and software, has acquired an Australia-based renewable energy company Arkana Energy Group. The acquisition will help to expand the company’s market presence. Arkana has installed more than 15,000 solar plants in private and commercial buildings across its home country to date. 1KOMMA5° operates in six locations in Australia and is expected to more than double its footprint through the new partnership. The company plans to offer the Heartbeat energy management system to Australian customers in the future.

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.