From: Mercom Capital Group

TeraWatt Technology, a lithium-ion battery manufacturer, has completed the final close of its Series C funding round. The company has not disclosed the total funding amount. The final close attracted new investors, including Japan Green Investment for Carbon Neutrality, Kyuden International Corporation, JERA, through its corporate venture capital arm, JERA Ventures, and ITOCHU Technology Ventures, with JERA Ventures investing approximately $10 million in the company.

Envision Energy, a manufacturer of wind turbines, energy storage systems, and green hydrogen products, has closed a $500 million vendor financing agreement with BBVA Corporate & Investment Banking to support its global expansion across Europe, Asia, and Latin America. The vendor financing program is designed with a flexible structure, offering diversified financing instruments, extended payment terms, and optimized working capital solutions.

Power infrastructure manufacturer Om Power Transmission‘s ₹1.5 billion (~$15.98 million) initial public offering (IPO) was oversubscribed 2.37 times at the end of the bidding window on March 13, 2026. The price band was set between ₹166 (~$1.76) and ₹175 (~$1.86) per equity share with a face value of ₹10 (~$0.106). The IPO saw bids for 14.25 million shares out of the 6 million shares on offer. Non-institutional investors led demand, with the portion receiving 5.09 times the bids, followed by the qualified institutional buyers’ portion at 2.57 times the bids, and retail individual investors at 1.1 times the bids.

WorkOnGrid, an AI-native operations intelligence platform for power, water and gas utilities, has raised ₹225 million (~$2.43 million) in a funding round led by Transition VC. The funding round also saw participation from the Indian Angel Network. The funds will be used to scale WorkOnGrid’s global go-to-market efforts, enhance its AI and machine learning capabilities, and build international infrastructure.

Mortenson, a provider of energy and infrastructure solutions, announced the acquisition of Nor-Cal Controls, a controls systems provider specializing in energy management control systems for solar, battery energy storage, and microgrid applications. Nor-Cal Controls develops and provides open-architecture control systems that are central to the operation of energy assets, enabling direct interaction with the electrical grid for power storage, dispatch, and management. 

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.