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FuturaSun, solar, roof-grid panels, and solar lighting machines manufacturer, <a href="https://cms.mercomindia.com/futurasun-acquires-perovskite-solar-cells-solertix/" target="_blank" rel="noopener">acquired</a> Solertix, a perovskite solar cell start-up in Italy. Solertix began at the University of Rome in its Organic Solar Center, which focuses on third-generation PV cell research. FuturaSun said that it plans to double the workforce at the startup with a view to developing a stable, commercially viable perovskite product. The price of the purchase has not been revealed.
Solar wafer manufacturer NexWafe GmbH has <a href="https://cms.mercomindia.com/germanys-nexwafe-secures-green-solar-wafer-production/" target="_blank" rel="noopener">secured</a> €30 million (~$32 million) from a group of investors, including Reliance New Energy, to accelerate the construction of its first commercial-scale green solar wafers production facility in Germany’s Bitterfeld. In parallel, NexWafe will work with one of its other investors Aramco Ventures, on a green solar wafer production facility that will be built in Saudi Arabia with participation from the latter’s $1.5 billion Sustainability Fund.
TeraWatt Technology, a manufacturer of lithium-ion batteries, <a href="https://cms.mercomindia.com/terawatt-technology-completes-pre-c-funding-lithium-ion-batteries/" target="_blank" rel="noopener">announced</a> the completion of another financing round prior to Series C. The company has raised an undisclosed amount from a group of investors, including the Development Bank of Japan, INPEX Corporation, JIC Venture Growth Investments, Rakuten Capital, Mori Trust, GLIN Impact Capital, and several other individual investors. The existing investors from Series B, such as Temasek, Khosla Ventures, and JAFCO also participated in this round.
India-based specialty chemical company Himadri has <a href="https://cms.mercomindia.com/chemical-firm-himadri-invests-battery-startup-sicona/" target="_blank" rel="noopener">announced</a> an investment of AU$10.32 million (~$7 million) in Australian startup Sicona Battery Technologies to produce high-quality anode materials. The investment aims to accelerate product and technology development for Sicona while expediting the commercial deployment of the lithium-ion battery.
Canadian Solar, a solar module manufacturer headquartered in Canada, has <a href="https://cms.mercomindia.com/canadian-solar-subsidiary-announces-ipo-pricing-shanghai-bourse/" target="_blank" rel="noopener">revealed</a> the pricing for the shares of CSI Solar, its majority-owned subsidiary, as part of its proposed initial public offering (IPO) on the Shanghai Stock Exchange. The proposed price for the IPO stands at RMB11.10 (~$1.56) per share, with estimated total gross proceeds of approximately RMB6 billion (~$844.13 million). Currently, Canadian Solar holds around 80% of the outstanding shares of CSI Solar.
Mumbai-based renewable energy company CleanMax Enviro Energy Solutions (CleanMax) has <a href="https://www.mercomindia.com/cleanmax-360-million-funding-expand-ci-portfolio" target="_blank" rel="noopener">successfully</a> concluded an equity fund raise of approximately $360 million from Brookfield Renewable, facilitated through the Brookfield Global Transition Fund. The funding comprises a mix of primary and secondary investments and will provide CleanMax with the necessary capital to pursue its ambitious growth plans of becoming a platform exceeding 5 GW within the next three to four years.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency 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://mercomindia.com/funding-and-ma-roundup-shell-completes-acquisition-of-sprng-energy/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: FuturaSun Acquires Perovskite Solar Cells Startup Solertix

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-futurasun-acquires-solertix/" target="_blank" rel="noopener">Mercom Capital Group</a>
FuturaSun, solar, roof-grid panels, and solar lighting machines manufacturer, <a href="https://mercomcapital.com/futurasun-acquires-perovskite-solar-cells-solertix/" target="_blank" rel="noopener">acquired</a> Solertix, a perovskite solar cell start-up in Italy. Solertix began at the University of Rome in its Organic Solar Center, which focuses on third-generation PV cell research. FuturaSun said that it plans to double the workforce at the startup with a view to developing a stable, commercially viable perovskite product. The price of the purchase has not been revealed.
Solar wafer manufacturer NexWafe GmbH has <a href="https://mercomcapital.com/germanys-nexwafe-secures-green-solar-wafer-production/" target="_blank" rel="noopener">secured</a> €30 million (~$32 million) from a group of investors, including Reliance New Energy, to accelerate the construction of its first commercial-scale green solar wafers production facility in Germany’s Bitterfeld. In parallel, NexWafe will work with one of its other investors Aramco Ventures, on a green solar wafer production facility that will be built in Saudi Arabia with participation from the latter’s $1.5 billion Sustainability Fund.
TeraWatt Technology, a manufacturer of lithium-ion batteries, <a href="https://mercomcapital.com/terawatt-technology-completes-pre-c-funding-lithium-ion-batteries/" target="_blank" rel="noopener">announced</a> the completion of another financing round prior to Series C. The company has raised an undisclosed amount from a group of investors, including the Development Bank of Japan, INPEX Corporation, JIC Venture Growth Investments, Rakuten Capital, Mori Trust, GLIN Impact Capital, and several other individual investors. The existing investors from Series B, such as Temasek, Khosla Ventures, and JAFCO also participated in this round.
India-based specialty chemical company Himadri has <a href="https://mercomcapital.com/chemical-firm-himadri-invests-battery-startup-sicona/" target="_blank" rel="noopener">announced</a> an investment of AU$10.32 million (~$7 million) in Australian startup Sicona Battery Technologies to produce high-quality anode materials. The investment aims to accelerate product and technology development for Sicona while expediting the commercial deployment of the lithium-ion battery.
Canadian Solar, a solar module manufacturer headquartered in Canada, has <a href="https://mercomcapital.com/canadian-solar-subsidiary-announces-ipo-pricing-shanghai-bourse/" target="_blank" rel="noopener">revealed</a> the pricing for the shares of CSI Solar, its majority-owned subsidiary, as part of its proposed initial public offering (IPO) on the Shanghai Stock Exchange. The proposed price for the IPO stands at RMB11.10 (~$1.56) per share, with estimated total gross proceeds of approximately RMB6 billion (~$844.13 million). Currently, Canadian Solar holds around 80% of the outstanding shares of CSI Solar.
Mumbai-based renewable energy company CleanMax Enviro Energy Solutions (CleanMax) has <a href="https://www.mercomindia.com/cleanmax-360-million-funding-expand-ci-portfolio" target="_blank" rel="noopener">successfully</a> concluded an equity fund raise of approximately $360 million from Brookfield Renewable, facilitated through the Brookfield Global Transition Fund. The funding comprises a mix of primary and secondary investments and will provide CleanMax with the necessary capital to pursue its ambitious growth plans of becoming a platform exceeding 5 GW within the next three to four years.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency 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://mercomindia.com/funding-and-ma-roundup-shell-completes-acquisition-of-sprng-energy/" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.futurasun.com/" target="_blank" rel="noopener">FuturaSun</a>, solar, roof-grid panels, and solar lighting machines manufacturer, acquired Solertix, a perovskite solar cell start-up in Italy.
Alessandro Barin, CEO of FuturaSun, emphasized the strategic importance of this step, stating, “Perovskite is the future of high-efficiency photovoltaics, and in this specific R&amp;D segment, we couldn’t afford not to be key players, working alongside those who are dedicated to scientific research at the highest academic levels.”
“Since its foundation in 2006, the Organic Solar Center has developed and nurtured several high-tech start-ups and spin-offs, actively pursuing the Third Mission of universities. Solertix represents CHOSE’s first start-up dedicated to the revolutionary field of halide perovskite for high-efficiency solar cells,” comments Professor Aldo Di Carlo, who will take on the position of President of the Scientific Committee within the new company.
Francesco Di Giacomo, a materials scientist who has been dedicated to upscaling perovskite photovoltaics since its early stages, explained, “Solertix will bring together both my know-how acquired at CHOSE – where the world’s first perovskite modules were manufactured – and my experience in production processes development from Solliance. I have always believed in the strategic importance of synergizing academia and industry for fostering innovation and driving our country’s progress.”
According to Mercom’s Q1 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, there were 27 solar M&amp;A transactions in Q1 2023 compared to 38 in Q4 2022. In a YoY comparison, M&amp;A activity decreased slightly compared to Q1 2022.
Petronas, a Malaysian state-owned oil company, <a href="https://cms.mercomindia.com/gentari-acquires-australian-solar-developer-wirsol-energy/" target="_blank" rel="noopener">announced</a> that its clean energy subsidiary Gentari Renewables Australia had completed the purchase of Australian renewables firm Wirsol Energy, which has solar and battery energy storage integration capabilities and a pipeline of development projects. The financial terms of the transaction were not disclosed. Wirsol Energy, which entered the Australian renewable energy market in 2017, owns and operates renewable energy and storage projects across New South Wales (NSW), Victoria, and Queensland.

FuturaSun Acquires Perovskite Solar Cells Start-Up Solertix

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