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Battery Material Company Sila Raises $300 Million in Funding

Nuru, a provider of microgrids solutions, <a href="https://nuru.cd/2023/07/03/nuru-closes-over-40m-of-equity-funding/" target="_blank" rel="noopener">raised</a> over $40 million in Series B equity funding. The funding will enable the company to develop new projects that will significantly increase its existing operating microgrid assets in the eastern Democratic Republic of the Congo. The Series B round was led by the International Finance Corporation and included the participation of several other investors. Following the Series B close, Nuru will start working on three new solar metro grid projects in Goma, Kindu, and Bunia, with a combined capacity of 13.7 MW.
General Motors announced the <a href="https://cms.mercomindia.com/gm-acquires-battery-software-startup/" target="_blank" rel="noopener">acquisition</a> of ALGOLiON, a company specializing in battery software for electric vehicles. The financial terms of the deal were not disclosed. The acquisition was led by the newly formed Technology Acceleration and Commercialization (TAC) organization, a group within General Motors that works to identify emerging technology that can support the company in battery development through investments, acquisitions, or partnerships.
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. The acquisition will enable Imerys to leverage its existing mining footprint, infrastructure, R&amp;D, and process development capabilities.
Service4Charger, a Berlin-based provider of comprehensive electric vehicle charging infrastructure solutions, <a href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-invests-7-5-m-in-ev-charging-service-provider-service4charger-as-part-of-a-10-m-series-a-funding-round.html" target="_blank" rel="noopener">secured</a> a €7.5 million (~$8 million) investment from bp Ventures, bp’s venture capital arm. The investment is part of a €10 million (~$11 million) Series A round for Service4Charger, including Smart Energy Innovationsfonds. The new capital will enable Service4Charger to expand into additional markets and increase its team.
ZincFive, a provider of nickel-zinc battery solutions, has <a href="https://www.businesswire.com/news/home/20230627989289/en/ZincFive-Closes-an-80-Million-Capital-Partnership-with-Orion-Infrastructure-Capital/?feedref=JjAwJuNHiystnCoBq_hl-Ypx8OuIA-qqxXAfOC1go22PU1fv-fCAtwybrddq94az7dI9_69nqXXndEkzoNy31peBvhKXN8xoKDPrCnMXhC58cMd5Jhr97vTYoLZQbGkSFja_QkRbjKVqSkUPuEMBEw==" target="_blank" rel="noopener">entered</a> into a strategic partnership with Orion Infrastructure Capital. The partnership will provide ZincFive with up to $80 million in term loan to fuel its global commercial adoption in existing and new markets. The company will leverage the funds to enhance its global channel development, advance its new product pipeline, and boost its U.S.-based high-volume production capacity. The company will also expand its recycling infrastructure to reuse battery-grade materials and reduce its life-cycle climate impact.
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-northvolt-raises-400-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Microgrid Solutions Provider Nuru Raises $40 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-microgrid-solutions-provider-nuru-raises-40-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Nuru, a provider of microgrids solutions, <a href="https://nuru.cd/2023/07/03/nuru-closes-over-40m-of-equity-funding/" target="_blank" rel="noopener">raised</a> over $40 million in Series B equity funding. The funding will enable the company to develop new projects that will significantly increase its existing operating microgrid assets in the eastern Democratic Republic of the Congo. The Series B round was led by the International Finance Corporation and included the participation of several other investors. Following the Series B close, Nuru will start working on three new solar metro grid projects in Goma, Kindu, and Bunia, with a combined capacity of 13.7 MW.
General Motors announced the <a href="https://mercomcapital.com/gm-acquires-battery-software-startup/" target="_blank" rel="noopener">acquisition</a> of ALGOLiON, a company specializing in battery software for electric vehicles. The financial terms of the deal were not disclosed. The acquisition was led by the newly formed Technology Acceleration and Commercialization (TAC) organization, a group within General Motors that works to identify emerging technology that can support the company in battery development through investments, acquisitions, or partnerships.
Imerys, a provider of mineral-based specialty solutions, <a href="https://mercomcapital.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. The acquisition will enable Imerys to leverage its existing mining footprint, infrastructure, R&amp;D, and process development capabilities.
Service4Charger, a Berlin-based provider of comprehensive electric vehicle charging infrastructure solutions, <a href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-invests-7-5-m-in-ev-charging-service-provider-service4charger-as-part-of-a-10-m-series-a-funding-round.html" target="_blank" rel="noopener">secured</a> a €7.5 million (~$8 million) investment from bp Ventures, bp’s venture capital arm. The investment is part of a €10 million (~$11 million) Series A round for Service4Charger, including Smart Energy Innovationsfonds. The new capital will enable Service4Charger to expand into additional markets and increase its team.
ZincFive, a provider of nickel-zinc battery solutions, has <a href="https://www.businesswire.com/news/home/20230627989289/en/ZincFive-Closes-an-80-Million-Capital-Partnership-with-Orion-Infrastructure-Capital/?feedref=JjAwJuNHiystnCoBq_hl-Ypx8OuIA-qqxXAfOC1go22PU1fv-fCAtwybrddq94az7dI9_69nqXXndEkzoNy31peBvhKXN8xoKDPrCnMXhC58cMd5Jhr97vTYoLZQbGkSFja_QkRbjKVqSkUPuEMBEw==" target="_blank" rel="noopener">entered</a> into a strategic partnership with Orion Infrastructure Capital. The partnership will provide ZincFive with up to $80 million in term loan to fuel its global commercial adoption in existing and new markets. The company will leverage the funds to enhance its global channel development, advance its new product pipeline, and boost its U.S.-based high-volume production capacity. The company will also expand its recycling infrastructure to reuse battery-grade materials and reduce its life-cycle climate impact.
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&#8217;s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-northvolt-raises-400-million/" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.imerys.com/" target="_blank" rel="noopener">Imerys</a>, a provider of mineral-based specialty solutions, announced the acquisition of an 80% stake in <a href="https://britishlithium.co.uk/" target="_blank" rel="noopener">British Lithium</a>, 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.
The company has received financial backing from Innovate U.K. and the Automotive Transformation Fund.
The partnership has resulted in the identification of inferred mineral resources of 161 million tons at a grade of 0.54 % lithium oxide, enough to sustain a mine life of more than 30 years at a production rate of 20,000 tons of lithium carbonate equivalent per year. This would meet roughly two-thirds of Britain’s estimated battery demand by 2030, when all U.K. car manufacturers are expected to switch to electric vehicles.
The acquisition will enable Imerys to leverage its existing mining footprint, infrastructure, R&amp;D, and process development capabilities and its lithium expertise developed through its EMILI project in France, which aims to produce lithium hydroxide from geothermal brines.
The U.K. Government has approved the transaction under the National Security Investment Act protocol, as it will contribute to reducing the U.K.’s and Europe’s dependence on critical raw materials imports and achieving their climate change targets. The mine will also follow social and environmental standards and adhere to the IRMA Standard.
Business and Trade Secretary Kemi Badenoch said: “This joint venture between Imerys and British Lithium will strengthen our domestic supply of critical minerals, which is vitally important as we seek to grow the U.K.’s advanced manufacturing industry and help create future jobs. This partnership shows again that the U.K. remains an attractive destination for international investment and will boost economic prosperity, support green industries, and bolster our energy security – not only in Cornwall but across the U.K.”
According to Mercom’s Q1 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage and Smart Grid, Four M&amp;A transactions were recorded in Energy Storage in Q1 2023. In Q4 2022, there were five M&amp;A transactions. YoY, there were five Energy Storage M&amp;A transactions in Q1 2022.

Imerys Acquires 80% Stake in British Lithium

imerys

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