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Group14 Technologies, a silicon battery materials maker, <a href="https://cms.mercomindia.com/battery-company-group14-technologies-secures-funding/" target="_blank" rel="noopener">secured</a> $34.3 million from ShawKwei &amp; Partners, an Asian private equity investor. Group14 Technologies uses silicon for the battery anode material rather than the commonly used graphite, which the company claims provides higher energy density as well as faster charging times.
Vena Energy, a renewable energy company, <a href="https://www.venaenergy.com/news/vena-energy-secures-us550m-multicurrency-unfunded-green-letter-of-credit-facility/" target="_blank" rel="noopener">secured</a> a five-year $550 million multicurrency unfunded Green Letter of Credit Facility to help enhance the company’s financial flexibility and corporate liquidity. BNP Paribas, Crédit Agricole Corporate and Investment Bank Singapore Branch, DBS Bank, ING Bank Singapore Branch, Intesa Sanpaolo Hong Kong Branch, MUFG Bank. Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore Branch participated in the Facility as Mandated Lead Arrangers, with MUFG Bank Singapore Branch acting as the Facility Agent. Credit Agricole Corporate and Investment Bank Singapore Branch and MUFG Bank Singapore Branch also acted as the Original Issuing Bank.
FLO, an EV charging solutions provider, <a href="https://cms.mercomindia.com/ev-charging-solutions-provider-flo-secures-credit-facility/" target="_blank" rel="noopener">secured</a> a C$60 million (~$44.5 million) revolving credit facility from the National Bank of Canada via its Technology and Innovation Banking Group, enabling FLO to accelerate the growth of its North American electric vehicle charging network as it continues expansion across Canada and the United States. The credit facility represents an increase from the $20 million facility secured in 2021.
Atlas Materials, a producer of battery-grade nickel, <a href="https://cms.mercomindia.com/battery-material-startup-atlas-materials-raises/" target="_blank" rel="noopener">secured</a> $27 million in a Series A funding round supported by climate technology investors, including the Grantham Environmental Trust and Voyager Ventures. The proceeds will be used to complete the design and engineering work of the company&#8217;s first commercial-scale plant- Electra- in North America, which is expected to enter production in 2027.
Oorja, a tech startup <a href="https://www.mercomindia.com/startup-oorja-secures-funding" target="_blank" rel="noopener">specializing</a> in predictive modeling for clean mobility solutions, has secured $1.5 million in funding to support product development, facilitate market expansion, and make inroads in the European and North American markets. The funding round was led by Micelio Fund and Capital-A. Java Capital, Anicut Capital, and Lead Angels also participated in the round. Oorja has been supported by the Indian Science Technology Engineering Facilities Map program.
Raptee, an electric motorcycle startup, <a href="https://www.mercomindia.com/raptee-raises-3-million-pre-series-a-round" target="_blank" rel="noopener">secured</a> $3 million in its Pre-Series A funding round led by Bluehill Capital, a deep-tech venture capital firm. Notable industry figures, including Eugene Mayne, Founder and CEO of Tristar Global; Lakshmi Narayanan, Former CEO of Cognizant; Ramesh Kannan, Managing Director at Kaynes Technology; and Chandu Nair, Director at Shankara Building Products, along with other high-net-worth individuals from India and the UAE, also participated in this all-equity funding round. The funds raised will be invested in expanding the company’s manufacturing facility, acquiring machinery and tooling for the upcoming motorcycle launch, and growing the workforce.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-morrow-batteries-raises-74-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Group14 Technologies Secures $34 Million Funding

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-group14-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Group14 Technologies, a silicon battery materials maker, <a href="https://mercomcapital.com/battery-company-group14-technologies-secures-funding/" target="_blank" rel="noopener">secured</a> $34.3 million from ShawKwei &amp; Partners, an Asian private equity investor. Group14 Technologies uses silicon for the battery anode material rather than the commonly used graphite, which the company claims provides higher energy density as well as faster charging times.
Vena Energy, a renewable energy company, <a href="https://www.venaenergy.com/news/vena-energy-secures-us550m-multicurrency-unfunded-green-letter-of-credit-facility/" target="_blank" rel="noopener">secured</a> a five-year $550 million multicurrency unfunded Green Letter of Credit Facility to help enhance the company’s financial flexibility and corporate liquidity. BNP Paribas, Crédit Agricole Corporate and Investment Bank Singapore Branch, DBS Bank, ING Bank Singapore Branch, Intesa Sanpaolo Hong Kong Branch, MUFG Bank. Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore Branch participated in the Facility as Mandated Lead Arrangers, with MUFG Bank Singapore Branch acting as the Facility Agent. Credit Agricole Corporate and Investment Bank Singapore Branch and MUFG Bank Singapore Branch also acted as the Original Issuing Bank.
FLO, an EV charging solutions provider, <a href="https://mercomcapital.com/ev-charging-solutions-provider-flo-secures-credit-facility/" target="_blank" rel="noopener">secured</a> a C$60 million (~$44.5 million) revolving credit facility from the National Bank of Canada via its Technology and Innovation Banking Group, enabling FLO to accelerate the growth of its North American electric vehicle charging network as it continues expansion across Canada and the United States. The credit facility represents an increase from the $20 million facility secured in 2021.
Atlas Materials, a producer of battery-grade nickel, <a href="https://mercomcapital.com/battery-material-startup-atlas-materials-raises/" target="_blank" rel="noopener">secured</a> $27 million in a Series A funding round supported by climate technology investors, including the Grantham Environmental Trust and Voyager Ventures. The proceeds will be used to complete the design and engineering work of the company’s first commercial-scale plant- Electra- in North America, which is expected to enter production in 2027.
Oorja, a tech startup <a href="https://www.mercomindia.com/startup-oorja-secures-funding" target="_blank" rel="noopener">specializing</a> in predictive modeling for clean mobility solutions, has secured $1.5 million in funding to support product development, facilitate market expansion, and make inroads in the European and North American markets. The funding round was led by Micelio Fund and Capital-A. Java Capital, Anicut Capital, and Lead Angels also participated in the round. Oorja has been supported by the Indian Science Technology Engineering Facilities Map program.
Raptee, an electric motorcycle startup, <a href="https://www.mercomindia.com/raptee-raises-3-million-pre-series-a-round" target="_blank" rel="noopener">secured</a> $3 million in its Pre-Series A funding round led by Bluehill Capital, a deep-tech venture capital firm. Notable industry figures, including Eugene Mayne, Founder and CEO of Tristar Global; Lakshmi Narayanan, Former CEO of Cognizant; Ramesh Kannan, Managing Director at Kaynes Technology; and Chandu Nair, Director at Shankara Building Products, along with other high-net-worth individuals from India and the UAE, also participated in this all-equity funding round. The funds raised will be invested in expanding the company’s manufacturing facility, acquiring machinery and tooling for the upcoming motorcycle launch, and growing the workforce.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-morrow-batteries-raises-74-million/" target="_blank" rel="noopener">roundup</a>.

<a href="https://group14.technology/en/" target="_blank" rel="noopener">Group14 Technologies</a>, a manufacturer of silicon battery storage technology for lithium-ion batteries, secured $34.3 million from ShawKwei &amp; Partners, an Asian private equity investor.
Group14 Technologies uses silicon for the battery anode material rather than the commonly used graphite, which the company claims provides higher energy density as well as faster charging times. Their silicon-carbon composite technology is shipping from the first factory in Washington State. The company is constructing a second commercial-scale factory in Moses Lake, Washington, and completing the commissioning of its joint venture factory in South Korea with SK Materials.
Kyle Shaw, Founder, and Managing Partner of ShawKwei &amp; Partners, said, &#8220;Our investment into Group14 follows the successful exit from ShawKwei&#8217;s investment with Schmid Silicon and its related group companies. We see efficient and fast-charging batteries as critical to the clean energy transition in Asia as well as the USA and Europe. Group14 is an excellent addition to ShawKwei &amp; Partners&#8217; other energy investments and exemplifies our strategy to invest in cutting-edge science and capabilities to accelerate decarbonization and support the energy transition to a more sustainable future.&#8221;
Group14 shareholders include Porsche AG, BASF, Cabot Corp., Resonac (formerly known as Showa Denko), SK Materials (a subsidiary of South Korea&#8217;s SK Group), as well as Microsoft Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, OMERS Capital Markets, and Decarbonization Partners.
In July, the company <a href="https://cms.mercomindia.com/silicon-battery-technology-company-acquires-schmid-silicon/" target="_blank" rel="noopener">acquired</a> Schmid Silicon Technology Holding, a silane producer based in Europe, for an undisclosed amount to meet the growing demand for silicon battery technology worldwide. As part of the acquisition, Group14 will bring online Schmid Silicon&#8217;s silane factory in Spreetal (Schwarze Pumpe), Germany, to support its expanding European operations.
Last year, the company <a href="https://www.mercomindia.com/battery-tech-company-group14-million-series-c-funding-round" target="_blank" rel="noopener">raised</a> $214 million in additional financing and completed its $614 million series C funding round.
VC Funding activity for the energy storage sector was up 27% in 1H 2023, with $3.8 billion in 43 deals compared to $3 billion in 48 deals in 1H 2022, according to Mercom&#8217;s 1H And Q2 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid.

Battery Company Group14 Technologies Secures $34.3 Million Funding

<a href="https://group14.technology/en" target="_blank" rel="noopener">Group14 Technologies</a>, a manufacturer of silicon battery technology, has acquired <a href="https://www.schmid-silicon.com/" target="_blank" rel="noopener">Schmid Silicon Technology Holding</a>, a silane producer based in Europe, for an undisclosed amount to meet the growing demand for silicon battery technology worldwide.
As part of the acquisition, Group14 will bring online Schmid Silicon’s silane factory in Spreetal (Schwarze Pumpe), Germany, to support its expanding European operations.
“Germany has long been the home for many of the world’s largest and oldest automakers, and we’re looking forward to putting this critical stake in the ground to bring forth a resilient silicon battery supply chain capable of meeting global demand right now,” said Rick Luebbe, CEO &amp; co-founder of Group14 Technologies.
The acquisition will ensure that Group14 has a sufficient supply of silane gas, a critical precursor for its silicon battery technology bringing together Schmid Silicon’s ultra-high-purity and low-carbon silane process technology with Group14’s manufacturing capabilities to deliver high-energy density silicon battery materials.
“Our acquisition of Schmid Silicon’s highly energy-efficient process technology and factory was a natural step as we continue to meet the dramatic uptick in demand for advanced battery technology while also supporting the European Union’s decarbonization strategies,” said Rick Costantino, CTO &amp; co-founder of Group14 Technologies.
Group14 is already shipping its silicon battery technology SCC55 to customers from its first commercial-scale factory in Washington State, all while building its second U.S. factory in Moses Lake and completing the commissioning of its joint venture factory with SK in South Korea.
According to Mercom’s recently <a href="https://cms.mercomindia.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">released</a> 1H And Q2 2023 Funding and M&amp;A Report for Storage &amp; Smart Grid, In 1H 2023, eight (one disclosed) Energy Storage M&amp;A transactions were completed, compared to 13 deals (six disclosed) in 1H 2022.
Recently, Imerys, a provider of mineral-based specialty solutions, <a href="https://cms.mercomindia.com/imerys-acquires-80-stake-in-british-lithium/" target="_blank" rel="noopener">announced</a> the acquisition of an 80% stake in British Lithium, a developer and operator of mineral resource projects. British Lithium has been working with Imerys since 2017, drilling and exploring Imerys-owned land in Cornwall and developing a bespoke process and pilot plant to extract lithium from mica, a mineral abundant in the region.

Silicon Battery Technology Company Group14 Technologies Acquires Schmid Silicon

Arcadia, a climate software and data startup focused on decarbonizing the electric grid, <a href="https://cms.mercomindia.com/arcadia-raises-125-million-to-accelerate-digital-decarbonization/" target="_blank" rel="noopener">raised</a> $125 million in new funding to support the development of the company’s Arc platform, a technology platform aimed to help decarbonize the grid and expand its community-solar business. Magnetar Capital and existing investor Keyframe Capital led the financing round, with participation from Macquarie Asset Management’s Green Investment Group.
Global manufacturer of advanced silicon battery technology Group14 Technologies said it has <a href="https://mercomindia.com/battery-tech-company-group14-million-series-c-funding-round/" target="_blank" rel="noopener">raised</a> $214 million in additional financing and completed its $614 million series C funding round. The additional financing follows the company’s $400 million Series C funding announced in May 2022. A consortium of Microsoft’s Climate Innovation Fund, Lightrock’s Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel provided the finance.
Photovoltaics leasing firm Enpal has <a href="https://cms.mercomindia.com/pv-leasing-firm-enpal-raises-908-million-for-solar-projects-in-germany/" target="_blank" rel="noopener">raised</a> €855 million (~$908.78 million) from international investors to jointly refinance over 30,000 new solar systems, energy storage systems, and electric vehicle chargers in Germany. The company said that the funds would be used to increase the accessibility of green energy to homes and businesses
Madrid-based energy and petrochemical company Repsol has <a href="https://cms.mercomindia.com/repsol-acquires-clean-energy-investment-platform-asterion-energies-for-e560-million/" target="_blank" rel="noopener">acquired</a> renewable energy investment platform Asterion Energies for €560 million (~$595 million) along with contingent payments of up to €20 million (~$21 million). With this acquisition, Repsol targets achieving 6 GW of installed renewable generation capacity in the next three years and 20 GW by 2030 under the company’s 2021-2025 Strategic Plan.
Element Energy, a provider of advanced battery management systems, has <a href="https://cms.mercomindia.com/battery-management-tech-company-element-energy-secures-28-million/" target="_blank" rel="noopener">announced</a> closing 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 for continued investment in assets, logistics, and infrastructure related to upcoming utility-scale deployments of second-life electric vehicle (EV) batteries utilizing the company’s adaptive battery management system.
EnviroSpark, a provider of electric vehicle (EV) charging solutions, has <a href="https://cms.mercomindia.com/ev-charging-company-envirospark-secures-10-million/" target="_blank" rel="noopener">announced</a> the completion of a $10 million funding round to help expand the company’s services and increase its workforce by nearly four times. The financing brings the company’s total funds raised to $15 million, including a $5 million Series A funding round earlier this year.
Redaptive, a provider of Efficiency-as-a-Service solutions for commercial and industrial customers, has <a href="https://cms.mercomindia.com/energy-efficiency-solutions-provider-redaptive-raises-200-million/" target="_blank" rel="noopener">received</a> $200 Million from Canada Pension Plan Investment Board. According to the company’s CEO, Arvin Vohra, the funding will help to accelerate their growth and help customers reach their energy efficiency and sustainability goals.
PowerFlex, an EDF Renewables North America affiliate and provider of intelligent solar, storage, and electric vehicle charging solutions,<a href="https://www.businesswire.com/news/home/20221213005303/en/PowerFlex-Receives-a-100M-Investment-from-Manulife-Investment-Management" target="_blank" rel="noopener"> announced</a> a $100 million investment from Manulife Investment Management (Manulife IM). With this transaction, Manulife IM will hold a minority stake in PowerFlex, while EDF Renewables will retain majority ownership. PowerFlex plans to use the proceeds of this capital raise to further invest in PowerFlex X, its proprietary line of software and hardware that intelligently integrates and co-optimizes onsite energy assets and centralizes control, data collection, and reporting into a single digital platform.
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://cms.mercomindia.com/funding-and-ma-roundup-nrg-energy-buys-smart-grid-company-vivint-for-2-8-billion/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Arcadia Raises $125 Million for Electric Grid Decarbonization

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-arcadia-raises-125-million-for-electric-grid-decarbonization/" target="_blank" rel="noopener">Mercom Capital Group</a>
Arcadia, a climate software and data startup focused on decarbonizing the electric grid, <a href="https://mercomcapital.com/arcadia-raises-125-million-to-accelerate-digital-decarbonization/" target="_blank" rel="noopener">raised</a> $125 million in new funding to support the development of the company’s Arc platform, a technology platform aimed to help decarbonize the grid and expand its community-solar business. Magnetar Capital and existing investor Keyframe Capital led the financing round, with participation from Macquarie Asset Management’s Green Investment Group.
Global manufacturer of advanced silicon battery technology Group14 Technologies said it has <a href="https://mercomindia.com/battery-tech-company-group14-million-series-c-funding-round/" target="_blank" rel="noopener">raised</a> $214 million in additional financing and completed its $614 million series C funding round. The additional financing follows the company’s $400 million Series C funding announced in May 2022. A consortium of Microsoft’s Climate Innovation Fund, Lightrock’s Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel provided the finance.
Photovoltaics leasing firm Enpal has <a href="https://mercomcapital.com/pv-leasing-firm-enpal-raises-908-million-for-solar-projects-in-germany/" target="_blank" rel="noopener">raised</a> €855 million (~$908.78 million) from international investors to jointly refinance over 30,000 new solar systems, energy storage systems, and electric vehicle chargers in Germany. The company said that the funds would be used to increase the accessibility of green energy to homes and businesses
Madrid-based energy and petrochemical company Repsol has <a href="https://mercomcapital.com/repsol-acquires-clean-energy-investment-platform-asterion-energies-for-e560-million/" target="_blank" rel="noopener">acquired</a> renewable energy investment platform Asterion Energies for €560 million (~$595 million) along with contingent payments of up to €20 million (~$21 million). With this acquisition, Repsol targets achieving 6 GW of installed renewable generation capacity in the next three years and 20 GW by 2030 under the company’s 2021-2025 Strategic Plan.
Element Energy, a provider of advanced battery management systems, has <a href="https://mercomcapital.com/battery-management-tech-company-element-energy-secures-28-million/" target="_blank" rel="noopener">announced</a> closing 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 for continued investment in assets, logistics, and infrastructure related to upcoming utility-scale deployments of second-life electric vehicle (EV) batteries utilizing the company’s adaptive battery management system.
EnviroSpark, a provider of electric vehicle (EV) charging solutions, has <a href="https://mercomcapital.com/ev-charging-company-envirospark-secures-10-million/" target="_blank" rel="noopener">announced</a> the completion of a $10 million funding round to help expand the company’s services and increase its workforce by nearly four times. The financing brings the company’s total funds raised to $15 million, including a $5 million Series A funding round earlier this year.
Redaptive, a provider of Efficiency-as-a-Service solutions for commercial and industrial customers, has <a href="https://redaptive.com/news/cpp-investments-invests-us200-million-in-redaptive" target="_blank" rel="noopener">received</a> $200 Million from Canada Pension Plan Investment Board. According to the company’s CEO, Arvin Vohra, the funding will help to accelerate their growth and help customers reach their energy efficiency and sustainability goals.
PowerFlex, an EDF Renewables North America affiliate and provider of intelligent solar, storage, and electric vehicle charging solutions,<a href="https://www.businesswire.com/news/home/20221213005303/en/PowerFlex-Receives-a-100M-Investment-from-Manulife-Investment-Management" target="_blank" rel="noopener"> announced</a> a $100 million investment from Manulife Investment Management (Manulife IM). With this transaction, Manulife IM will hold a minority stake in PowerFlex, while EDF Renewables will retain majority ownership. PowerFlex plans to use the proceeds of this capital raise to further invest in PowerFlex X, its proprietary line of software and hardware that intelligently integrates and co-optimizes onsite energy assets and centralizes control, data collection, and reporting into a single digital platform.
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-nrg-energy-buys-smart-grid-company-vivint-for-2-8-billion/" target="_blank" rel="noopener">roundup</a>.

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