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Caban Systems, a California-based provider of energy storage solutions, <a href="https://cms.mercomindia.com/energy-storage-company-caban-systems-raises-51-million/" target="_blank" rel="noopener">raised</a> $51 million in Series B Funding to help scale domestic battery manufacturing capacity and expand its global footprint. The round was led by BCP Ventures with participation from Ontario Power Generation Pension Fund, Ember Infrastructure, Portfolia, and Inspiration Ventures.
U.S.-based residential solar company Sunrun <a href="https://mercomindia.com/sunrun-expand-assets-loan-835-million/" target="_blank" rel="noopener">closed</a> $835 million in non-recourse financings to expand its assets that will help the company maintain the growth trajectory across various segments, including energy storage and diverse energy services. Of the cumulative closure, Sunrun closed a $600 million non-recourse syndicated bank facility or senior credit facilities to support a 335 MW portfolio of leases and power purchase agreements. The facility consists of an amortizing loan of $575 million and a debt service reserve letter of credit worth $25 million.
Nashville-based Silicon Ranch, a renewable energy developer, and battery storage solutions provider, has <a href="https://mercomindia.com/silicon-ranch-raises-600-million-equity-capital/" target="_blank" rel="noopener">raised</a> $600 million to help accelerate its growth strategy for new projects and expand its employee base. To execute its business plan, Silicon Ranch plans to grow its team in 2023 to support engineering, procurement, and construction for its contracted pipeline.
Bengaluru-based electric vehicle charging aggregation platform ElectricPe <a href="https://mercomindia.com/electricpe-raises-5-million-in-funding/" target="_blank" rel="noopener">closed</a> a pre-series A funding round of $5 million, taking the company&#8217;s total capital raised in the last 12 months to $8 million. The company said it will use the funds to deepen technology investments and scale its operations. The funding round was led by Green Frontier Capital, Blume Ventures, and Micelio Fund, while notable investors from Dubai NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels also participated in the fundraising.
Husk Power Systems, a solar microgrids operator, has <a href="https://mercomindia.com/husk-power-secures-debt-financing-to-expand-operations/" target="_blank" rel="noopener">secured</a> a $750,000 loan from the German Investment Corporation –  Deutsche Investitions- und Entwicklungsgesellschaft to support the company&#8217;s expansion of India operations and build eight new community solar microgrids in Nigeria. The company currently operates more than 120 microgrid sites across rural North and East India with a total power capacity of 3.6 MW.
Caterpillar, a manufacturer of construction and mining equipment, announced it is <a href="https://www.prnewswire.com/news-releases/caterpillar-announces-investment-in-lithos-energy-inc-to-further-battery-pack-development-and-manufacturing-301715424.html" target="_blank" rel="noopener">investing</a> an undisclosed amount in Lithos Energy, a U.S.-based battery technology company that produces lithium-ion battery packs. The funding will enable Lithos to accelerate technology development and scale up manufacturing capacity. Caterpillar plans to use Lithos&#8217; expertise in battery pack manufacturing to help in the development of their electrified products.
Click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-rabobank-invests-in-battery-energy-storage-project-developer/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Energy Storage Firm Caban Systems Raises $51 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-energy-storage-firm-caban-systems/" target="_blank" rel="noopener">Mercom Capital Group</a>
Caban Systems, a California-based provider of energy storage solutions, <a href="https://mercomcapital.com/energy-storage-company-caban-systems-raises-51-million/" target="_blank" rel="noopener">raised</a> $51 million in Series B Funding to help scale domestic battery manufacturing capacity and expand its global footprint. The round was led by BCP Ventures with participation from Ontario Power Generation Pension Fund, Ember Infrastructure, Portfolia, and Inspiration Ventures.
U.S.-based residential solar company Sunrun <a href="https://mercomindia.com/sunrun-expand-assets-loan-835-million/" target="_blank" rel="noopener">closed</a> $835 million in non-recourse financings to expand its assets that will help the company maintain the growth trajectory across various segments, including energy storage and diverse energy services. Of the cumulative closure, Sunrun closed a $600 million non-recourse syndicated bank facility or senior credit facilities to support a 335 MW portfolio of leases and power purchase agreements. The facility consists of an amortizing loan of $575 million and a debt service reserve letter of credit worth $25 million.
Nashville-based Silicon Ranch, a renewable energy developer, and battery storage solutions provider, has <a href="https://mercomindia.com/silicon-ranch-raises-600-million-equity-capital/" target="_blank" rel="noopener">raised</a> $600 million to help accelerate its growth strategy for new projects and expand its employee base. To execute its business plan, Silicon Ranch plans to grow its team in 2023 to support engineering, procurement, and construction for its contracted pipeline.
Bengaluru-based electric vehicle charging aggregation platform ElectricPe <a href="https://mercomindia.com/electricpe-raises-5-million-in-funding/" target="_blank" rel="noopener">closed</a> a pre-series A funding round of $5 million, taking the company&#8217;s total capital raised in the last 12 months to $8 million. The company said it will use the funds to deepen technology investments and scale its operations. The funding round was led by Green Frontier Capital, Blume Ventures, and Micelio Fund, while notable investors from Dubai NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels also participated in the fundraising.
Husk Power Systems, a solar microgrids operator, has <a href="https://mercomindia.com/husk-power-secures-debt-financing-to-expand-operations/" target="_blank" rel="noopener">secured</a> a $750,000 loan from the German Investment Corporation –  Deutsche Investitions- und Entwicklungsgesellschaft to support the company&#8217;s expansion of India operations and build eight new community solar microgrids in Nigeria. The company currently operates more than 120 microgrid sites across rural North and East India with a total power capacity of 3.6 MW.
Caterpillar, a manufacturer of construction and mining equipment, announced it is <a href="https://www.prnewswire.com/news-releases/caterpillar-announces-investment-in-lithos-energy-inc-to-further-battery-pack-development-and-manufacturing-301715424.html" target="_blank" rel="noopener">investing</a> an undisclosed amount in Lithos Energy, a U.S.-based battery technology company that produces lithium-ion battery packs. The funding will enable Lithos to accelerate technology development and scale up manufacturing capacity. Caterpillar plans to use Lithos&#8217; expertise in battery pack manufacturing to help in the development of their electrified products.
Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors.
Read last week&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-rabobank-invests-in-battery-energy-storage-project-developer/" target="_blank" rel="noopener">roundup</a>.

<a href="https://cabansystems.com/" target="_blank" rel="noopener">Caban Systems</a>, a California-based provider of energy storage-based solutions, raised $51 million in Series B Funding, to help scale domestic battery manufacturing capacity and expand its global footprint.
The round was led by BCP Ventures with participation from Ontario Power Generation Pension Fund, Ember Infrastructure, Portfolia, and Inspiration Ventures.
The company delivers end-to-end energy solutions aimed to decarbonize and modernize critical infrastructure. The funds will be also used to broaden its product and service offerings.
Caban offers lithium-ion batteries, energy-as-a-service, and artificial intelligence (AI)-enabled software solutions. The energy storage systems work in tandem with their cloud-based remote monitoring software and energy service solution to ensure uninterrupted power, optimized asset management dramatically reduced emissions enabling mobile network operators and tower companies to reduce their OPEX costs.
&#8220;Closing our Series B is a transformational moment for our company and a concrete endorsement that our technology, combined with our energy-as-a-service business model, is the leading energy transition strategy for our customers,&#8221; says Alexandra Rasch Castillo, CEO, and Founder of Caban Systems.
The company expects to thrive on the increasing global demand and domestically and plans to utilize the latest set of incentives brought by the Inflation Reduction Act for storage projects using U.S.-manufactured equipment.
Caban solutions are powering over 500 customer sites across 10 countries, with more than 1,400 additional sites under contract. The company has supplied 1,217 MWh of renewable energy, helping its customers avoid more than 8,400 metric tons of carbon emissions.
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, the VC funding in Energy Storage in 9M 2022 fell by over 44%, with $4 billion in 73 deals compared to $7.2 billion in 60 deals in 9M 2021.
Recently, Element Energy, a provider of advanced battery management systems, <a href="https://cms.mercomindia.com/battery-management-tech-company-element-energy-secures-28-million/" target="_blank" rel="noopener">announced</a> the close of a $28 million Series B Funding round co-led by Cohort Ventures and an undisclosed energy generation company. The funding is expected to provide growth capital.

Energy Storage Company Caban Systems Raises $51 Million

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