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Hybrid Energy Storage Solutions, an energy storage solutions provider, <a href="https://cms.mercomindia.com/hybrid-energy-storage-solutions-raises-14-million-in-funding/" target="_blank" rel="noopener">secured</a> €12 million (~$13.6 million) in a funding round. The funding round saw participation from ABB, SC Net Zero Ventures (managed by Suma Capital), and VERBUND X Ventures, a venture capital unit of Austria’s energy supplier VERBUND. The company offers turnkey energy storage and grid asset optimization solutions for renewable integration, distribution, and transmission grid applications, electric vehicle infrastructure, and microgrids, both isolated and connected.
Partners Group, a private equity firm, has <a href="https://cms.mercomindia.com/partners-group-acquire-renewable-energy-developer-powertransitions/" target="_blank" rel="noopener">agreed</a> to acquire PowerTransitions, a utility-scale project developer in the U.S., from EnCap Investments. PowerTransitions acquires and redevelops retiring thermal power assets with existing grid connections that can be enhanced or modified to integrate new generation through the co-location of solar or battery energy storage projects, or both combined. Partners Group also intends to invest over $450 million in capital to accelerate the company’s future growth.
Swap Robotics, a utility-scale solar robotic operations company, has <a href="https://cms.mercomindia.com/swap-robotics-closes-3-million-in-funding/" target="_blank" rel="noopener">secured</a> $3 million in funding, bringing the company’s total funding raised to date to $15 million. Silicon Ranch, a developer, owner, and operator of solar projects, provided this funding. The investment from Silicon Ranch follows previous investments in Swap Robotics, including a $7 million investment led by SOLV Energy and a $3 million investment from Array Technologies.
Climate technology-focused asset financing company Stride Green has <a href="https://www.mercomindia.com/climate-tech-asset-financing-firm-stride-green-raises-3-5-million-in-seed-funding" target="_blank" rel="noopener">raised</a> $3.5 million as part of its seed funding round led by Micelio Technology Fund, Incubate Fund Asia, and other strategic investors. These funds will be utilized to provide innovative, tech-enabled financing and leasing solutions for India’s clean energy transition sectors, such as renewable energy, electric mobility, and battery storage. The funds will also be used to expand the company’s team, bringing in critical expertise to strengthen capabilities and support future growth.
Eternal Sun, a provider of solar module testing solutions, has <a href="https://cms.mercomindia.com/eternal-sun-acquires-key-assets-of-wavelabs/" target="_blank" rel="noopener">acquired</a> the key assets of WAVELABS, a company that develops LED-based solar simulators for solar cell measurement.  The combined product portfolio is expected to offer a full spectrum of solar testing technology solutions. The acquisition was structured as an asset deal, resulting in the formation of a new subsidiary, WAVELABS Eternal Sun, which will be a wholly owned subsidiary of Eternal Sun Group and will be based in Leipzig, Germany.
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-ma-roundup-ampyr-distributed-energy-secures-229-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Hybrid Energy Storage Solutions Raises $14 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-hybrid-energy-storage-solutions-raises-14m/" target="_blank" rel="noopener">Mercom Capital Group</a>
Hybrid Energy Storage Solutions, an energy storage solutions provider, <a href="https://mercomcapital.com/hybrid-energy-storage-solutions-raises-14-million-in-funding/" target="_blank" rel="noopener">secured</a> €12 million (~$13.6 million) in a funding round. The funding round saw participation from ABB, SC Net Zero Ventures (managed by Suma Capital), and VERBUND X Ventures, a venture capital unit of Austria’s energy supplier VERBUND. The company offers turnkey energy storage and grid asset optimization solutions for renewable integration, distribution, and transmission grid applications, electric vehicle infrastructure, and microgrids, both isolated and connected.
Partners Group, a private equity firm, has <a href="https://mercomcapital.com/partners-group-acquire-renewable-energy-developer-powertransitions/" target="_blank" rel="noopener">agreed</a> to acquire PowerTransitions, a utility-scale project developer in the U.S., from EnCap Investments. PowerTransitions acquires and redevelops retiring thermal power assets with existing grid connections that can be enhanced or modified to integrate new generation through the co-location of solar or battery energy storage projects, or both combined. Partners Group also intends to invest over $450 million in capital to accelerate the company’s future growth.
Swap Robotics, a utility-scale solar robotic operations company, has <a href="https://mercomcapital.com/swap-robotics-closes-3-million-in-funding/" target="_blank" rel="noopener">secured</a> $3 million in funding, bringing the company’s total funding raised to date to $15 million. Silicon Ranch, a developer, owner, and operator of solar projects, provided this funding. The investment from Silicon Ranch follows previous investments in Swap Robotics, including a $7 million investment led by SOLV Energy and a $3 million investment from Array Technologies.
Climate technology-focused asset financing company Stride Green has <a href="https://www.mercomindia.com/climate-tech-asset-financing-firm-stride-green-raises-3-5-million-in-seed-funding" target="_blank" rel="noopener">raised</a> $3.5 million as part of its seed funding round led by Micelio Technology Fund, Incubate Fund Asia, and other strategic investors. These funds will be utilized to provide innovative, tech-enabled financing and leasing solutions for India’s clean energy transition sectors, such as renewable energy, electric mobility, and battery storage. The funds will also be used to expand the company’s team, bringing in critical expertise to strengthen capabilities and support future growth.
Eternal Sun, a provider of solar module testing solutions, has <a href="https://mercomcapital.com/eternal-sun-acquires-key-assets-of-wavelabs/" target="_blank" rel="noopener">acquired</a> the key assets of WAVELABS, a company that develops LED-based solar simulators for solar cell measurement.  The combined product portfolio is expected to offer a full spectrum of solar testing technology solutions. The acquisition was structured as an asset deal, resulting in the formation of a new subsidiary, WAVELABS Eternal Sun, which will be a wholly owned subsidiary of Eternal Sun Group and will be based in Leipzig, Germany.
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’s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-ampyr-secures-229-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.eternalsun.com/" target="_blank" rel="noopener">Eternal Sun</a>, a provider of solar module testing solutions, has acquired the key assets of <a href="https://wavelabs.de/" target="_blank" rel="noopener">WAVELABS</a>, a company that develops LED-based solar simulators for solar cell measurement.  The combined product portfolio is expected to offer a full spectrum of solar testing technology solutions.
The acquisition was structured as an asset deal, resulting in the formation of a new subsidiary, WAVELABS Eternal Sun, which will be a wholly owned subsidiary of Eternal Sun Group and will be based in Leipzig, Germany.
This new company is expected to continue operations at the Leipzig site, led by a team of experienced professionals across R&amp;D, manufacturing, and sales. The WAVELABS and Eternal Sun brands will remain independent.
The acquisition was made possible following the recent investment by Bolster, a Dutch long-term investment firm, into Eternal Sun. They acquired the stake of Vermec and the ABN AMRO Sustainable Impact Fund, which invested in the start-up and scale-up phases of Eternal Sun, and have grown the company into the mid-size market segment.
The Bolster investment provided additional capital for the acquisition of WAVELABS.
Eternal Sun has claimed to have a track record of integrating complementary solar metrology providers. In 2016, Eternal Sun also acquired and integrated the testing division of Spire Corporation, a Massachusetts-based company.
“With WAVELABS joining the Eternal Sun family, we can offer our customers an unmatched range of cell and module testing solutions. Both companies share a passion for precision, innovation, and service. Together, we will shape the future of solar quality assurance and accurate characterization,” said Florian van Rijn van Alkemade, CEO of Eternal Sun.
According to Mercom’s recently <a href="https://cms.mercomindia.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">released</a> Q1 2025 Solar Funding and M&amp;A report, a total of 19 solar corporate M&amp;A transactions were recorded in Q1 2025, compared to 20 transactions in Q4 2024, and 10% lower compared to 21 solar M&amp;A transactions in Q1 2024.

Eternal Sun Acquires Key Assets of WAVELABS

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