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Sila, a battery materials company, has <a href="https://cms.mercomindia.com/battery-materials-company-sila-raises-375-million/" target="_blank" rel="noopener">secured</a> $375 million in a Series G funding round led by Sutter Hill Ventures, an existing investor, and funds and accounts advised by T. Rowe Price Associates. The round saw participation from new and existing investors, including Bessemer Venture Partners, Coatue, Perry Creek Capital, and others. Ardea Partners LP served as the exclusive financial advisor to Sila for its Series G round.
Brookfield, an investment firm, has <a href="https://cms.mercomindia.com/brookfield-acquires-majority-stake-in-independent-renewable-producer-neoen/" target="_blank" rel="noopener">signed</a> a share purchase agreement to acquire approximately 53.12% of the shares of Neoen, an independent renewable energy power producer, at a price of €39.85 per share (~$42.71 per share). Brookfield signed the agreement with French investment company Impala, Fonds Strategique de Participations, managed by ISALT, Cartusia, Xavier Barbaro, and other shareholders.
e-Zinc, a developer of zinc-air-based long-duration energy storage solutions, <a href="https://cms.mercomindia.com/e-zinc-raises-additional-31-million-in-series-a2-funding/" target="_blank" rel="noopener">raised</a> an additional $31 million in Series A2 financing. This oversubscribed Series A2 round was led by Evok Innovations, with additional investments from Mitsubishi Heavy Industries, Export Development Canada, and Ultratech Capital Partners. This funding will be used to accelerate the development of e-Zinc’s manufacturing base, with plans to enable the commercialization of its long-duration energy storage solution.
Be.EV, an EV charging provider, <a href="https://cms.mercomindia.com/ev-charging-provider-be-ev-secures-70-million-debt-financing-2/" target="_blank" rel="noopener">secured</a> £55 million (~$70 million) in debt financing from NatWest and the German KfW IPEX-Bank. The funding was also supported by existing investor Octopus Energy, a renewable energy group specializing in sustainable energy, which invested £110 million (~$128 million) last year. This deal will help the company expand and achieve its goal of operating over 1,000 rapid and ultra-rapid charge points across the UK by the end of 2024, making public EV chargers more accessible.
Ameresco, a company that develops and operates clean energy assets, has <a href="https://cms.mercomindia.com/ameresco-secures-100-million-in-debt-financing/" target="_blank" rel="noopener">secured</a> a $100 million second lien debt financing from Nuveen Energy Infrastructure Credit, with Oppenheimer &amp; Co. acting as the lead arranger for the transaction. This funding will solidify the company’s commitment to growing its business and provide a stable balance sheet on attractive terms.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-doral-renewables-secures-400-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Battery Materials Company Sila Raises $375 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-battery-materials-company-sila-raises-375-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Sila, a battery materials company, has <a href="https://mercomcapital.com/battery-materials-company-sila-raises-375-million/" target="_blank" rel="noopener">secured</a> $375 million in a Series G funding round led by Sutter Hill Ventures, an existing investor, and funds and accounts advised by T. Rowe Price Associates. The round saw participation from new and existing investors, including Bessemer Venture Partners, Coatue, Perry Creek Capital, and others. Ardea Partners LP served as the exclusive financial advisor to Sila for its Series G round.
Brookfield, an investment firm, has <a href="https://mercomcapital.com/brookfield-acquires-majority-stake-in-independent-renewable-producer-neoen/" target="_blank" rel="noopener">signed</a> a share purchase agreement to acquire approximately 53.12% of the shares of Neoen, an independent renewable energy power producer, at a price of €39.85 per share (~$42.71 per share). Brookfield signed the agreement with French investment company Impala, Fonds Strategique de Participations, managed by ISALT, Cartusia, Xavier Barbaro, and other shareholders.
e-Zinc, a developer of zinc-air-based long-duration energy storage solutions, <a href="https://mercomcapital.com/e-zinc-raises-additional-31-million-in-series-a2-funding/" target="_blank" rel="noopener">raised</a> an additional $31 million in Series A2 financing. This oversubscribed Series A2 round was led by Evok Innovations, with additional investments from Mitsubishi Heavy Industries, Export Development Canada , and Ultratech Capital Partners. This funding will be used to accelerate the development of e-Zinc’s manufacturing base, with plans to enable the commercialization of its long-duration energy storage solution.
Be.EV, an EV charging provider, <a href="https://mercomcapital.com/ev-charging-provider-be-ev-secures-70-million-debt-financing-2/" target="_blank" rel="noopener">secured</a> £55 million (~$70 million) in debt financing from NatWest and the German KfW IPEX-Bank. The funding was also supported by existing investor Octopus Energy, a renewable energy group specializing in sustainable energy, which invested £110 million (~$128 million) last year. This deal will help the company expand and achieve its goal of operating over 1,000 rapid and ultra-rapid charge points across the UK by the end of 2024, making public EV chargers more accessible.
Ameresco, a company that develops and operates clean energy assets, has <a href="https://mercomcapital.com/ameresco-secures-100-million-in-debt-financing/" target="_blank" rel="noopener">secured</a> a $100 million second lien debt financing from Nuveen Energy Infrastructure Credit, with Oppenheimer &amp; Co. acting as the lead arranger for the transaction. This funding will solidify the company’s commitment to growing its business and provide a stable balance sheet on attractive terms.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-doral-renewables-400-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://be-ev.co.uk/" target="_blank" rel="noopener">Be.EV</a>, an EV charging provider, secured £55 million (~$70 million) in debt financing from NatWest and the German KfW IPEX-Bank. The funding was also supported by existing investor Octopus Energy, a renewable energy group specializing in sustainable energy, which <a href="https://cms.mercomindia.com/ev-charging-infrastructure-company-be-ev-raises-octopus-energy/" target="_blank" rel="noopener">invested</a> £110 million (~$128 million) last year.
This deal will help the company expand and achieve its goal of operating over 1,000 rapid and ultra-rapid charge points across the U.K. by the end of 2024, making public EV chargers more accessible. Only 5,336 locations in the country currently offer rapid and ultra-rapid charging, serving over one million EVs.
“This sizeable commitment from NatWest and KfW and the continued support from Octopus Energy Generation paves the way for future investments in the industry, which ultimately benefits the EV driving community and helps the Government’s Zero-emission-vehicles by 2035 mandate. It proves that investors, both domestic and international, are confident in the UK’s transition to EVs and its importance in transitioning to a net zero economy.” Said, Asif Ghafoor, CEO, Be.EV.
This U.K.-based company has already established its presence in Manchester and the Northwest by installing over 600 changepoints in those areas. This funding now will also support more than one million registered plug-in vehicles in that region.
According to Mercom’s Q1 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Storage &amp; Smart Grid. The Smart Grid sector saw $30 million raised in two debt and public market financing deals in Q1 2024. In a YoY comparison, $777 million was raised in four debt and public market financing deals in Q1 2023.
In June, Ekoenergetyka, a manufacturer of EV chargers, <a href="https://cms.mercomindia.com/ev-charger-maker-ekoenergetyka-secures-170-million-loan/" target="_blank" rel="noopener">secured</a> a loan of PLN 691 million (~$170 million). The loan agreement provides for the possibility of structuring financing in the first year of cooperation under the Sustainability Linked Loan (SLL) formula. Upon meeting certain conditions, the loan amount can also be increased to PLN741 million (~$183 million).

EV Charging Provider Be.EV Secures $70 Million Debt Financing

<a href="https://octopus.energy/" target="_blank" rel="noopener">Octopus Energy Group</a>, a renewable energy group specializing in sustainable energy, invested £110 million (~$128 million) in EV Charging provider <a href="https://be-ev.co.uk/" target="_blank" rel="noopener">Be.EV</a>.
The funding is expected to help Be.EV to scale and install new charge points across the UK. The deal will help grow Be.EV’s 150 public charge point network, with the company committing to add 1,000 further charge points across the North of England and beyond by 2024. The move will increase the firm’s charge point coverage by over 600%.
Public charge points are currently unevenly distributed, with London hosting the most charging station provision per 100,000 of the population at 102, according to the <a href="https://www.gov.uk/government/statistics/electric-vehicle-charging-device-statistics-january-2022/electric-vehicle-charging-device-statistics-january-2022" target="_blank" rel="noopener">Department for Transport</a>.“The backing from Octopus is transformational for us. We have sites lined up, and underway that will form dense clusters of chargers that give people the confidence to go electric. We’re also building infrastructure that communities can be proud of, reinventing charging locations as green neighbourhood hubs and developing iconic designs. Octopus’ support means we can take this unique approach to other parts of the country, addressing the imbalance in charging provision across north and south, urban and rural communities.” Said Asif Ghafoor, CEO, and co-founder of Be.EV
This deal marks the next step in Octopus Energy Group’s advancement of EVs. Its EV roaming service Electric Universe makes charging EVs simple as drivers use one card and app to access over 310,000 public charge points from a range of brands globally. As part of this agreement, Be.EV will join the Electric Universe alongside the 460+ other charging networks on the platform.
According to Mercom’s 9M And Q3 2022 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2022-funding-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">Report</a> for Storage, Grid &amp; Efficiency. VC funding in Smart Grid companies in 9M 2022 was 162% higher, with a record $2.5 billion compared to the $936 million raised in 9M 2021.
Fastned, an EV Charging company, recently <a href="https://cms.mercomindia.com/fastned-raises-74-million-in-funding/" target="_blank" rel="noopener">secured</a> a €75 million (~$74 million) long-term strategic investment from Schroders Capital. The company intends to use the funds to expand the capacity of its existing charging stations.

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