From: Mercom Capital Group

EnerVenue Holdings, a company that develops metal-hydrogen batteries, announced the closing of a $300 million extension of its Series B preferred stock financing round. The funding will help accelerate the company’s transition from an advanced-technology developer to a high-volume manufacturer, enabling broader deployment and meeting the growing demands of AI-driven energy systems.

Solar module manufacturer Cosmic PV Power filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India to raise up to ₹6.4 billion (~$69 million) through an initial public offering (IPO) comprising a fresh issue and an offer for sale (OFS). The IPO consists of a fresh issue of equity shares aggregating up to ₹5.4 billion (~$58.27 million) and an OFS of shares aggregating up to ₹1 billion (~$10.79 million) by existing shareholders.

OneEthos, a financial technology company specializing in climate finance in the U.S., acquired Bodhi, a solar customer experience platform whose automation and AI tools help solar installers grow their business through referrals and repeat customers. The companies did not disclose the transaction’s financial details. Together, OneEthos and Bodhi seek to provide U.S. solar installers with a platform to expand in a more demanding market.

FlexGen Power Systems, a battery energy storage software and service provider, acquired Clean Energy Services, a provider of commissioning, preventative, and corrective maintenance, and remote monitoring services for utility-scale battery energy storage systems. The acquisition is expected to create an integrated model that accelerates FlexGen’s project delivery, enhances system performance, and strengthens long-term asset reliability for customers.

Inox Clean Energy completed the acquisition of Vibrant Energy, a renewable energy platform owned by Macquarie and other shareholders, for approximately ₹50 billion (~$536.28 million). The transaction adds a renewable energy portfolio of about 1.34 GW to Inox Clean’s assets. Inox Clean Energy had reached an agreement to acquire Vibrant Energy in December last year. Vibrant Energy’s portfolio includes renewable assets across Madhya Pradesh, Maharashtra, Karnataka, Telangana, and Andhra Pradesh. 

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.