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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-ev-charging-platform-jet-charge-receives-45-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>JET Charge, an EV charging solutions provider, has <a href="https://mercomcapital.com/ev-charging-platform-jet-charge-receives-45-million-funding/" target="_blank" rel="noopener">secured</a> A$72 million (~$45 million) in funding. The funding was led by Mirova</strong>, an affiliate of Natixis Investment Managers, through its Mirova Energy Transition Fund 6 (MET6), along with existing shareholders, including Clean Energy Finance Corporation (managed by Virescent Ventures), RACV, and Kilara Capital.</p>
<p><strong>Solar module manufacturer SWELECT Energy Systems has proposed </strong><a href="https://www.mercomindia.com/swelect-raise-debenture-sale" target="_blank" rel="noopener"><strong>raising</strong></a><strong> ₹1.38 billion (~$16.22 million) by issuing 1,385 non-convertible debentures (NCDs)</strong> with a face value of ₹1 million (~$11,757) each through private placement. These secured, unlisted, rated, redeemable, non-cumulative, taxable NCDs will have a tenure of 12.5 years and a 9.5% average interest rate. The funds will strengthen the company’s finances.</p>
<p><strong>Jolt Energy Storage, a company specializing in organic energy storage materials, has </strong><a href="https://mercomcapital.com/jolt-energy-storage-secures-4-million-in-series-a-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $4 million in Series A funding.</strong> The investors who participated in the round were not disclosed. The funding will help the company speed up its prototype development, including field testing, design, and manufacturing processes, leading to the commercial scalability of its organic flow battery design. The company plans to complete its 3 kW, four-hour prototype by December 2025.</p>
<p><strong>SustVest, a sustainable investment platform, </strong><a href="https://www.mercomindia.com/sustainable-investment-platform-sustvest-raises-1-7-million-in-pre-series-a-round" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $1.7 million in a pre-series A round led by Inflection Point Ventures and Antler.</strong> This round also saw participation from WEH ventures, Venture Catalysts, Soonicorn Ventures, and FAAD Network. SustVest aims to use these funds to acquire solar projects, cover marketing expenses with the launch of the company’s regulated platform, manage operations, and cover legal costs.</p>
<p><strong>Aqua Metals, a lithium battery material recycling company, <a href="https://mercomcapital.com/battery-recycling-company-aqua-metals-secures-million/" target="_blank" rel="noopener">announced</a> the closing of a $1.5 million bridge loan</strong> to fund its lithium battery recycling operations. Over 50% of the bridge loan was funded by management and members of the Board of Directors. The financing provides additional capital to advance Aqua Metals’ efforts to secure a definitive agreement on its long-term financing. The funding will be used to support the buildout of the Sierra ARC commercial facility and the future growth of the company.</p>
<p>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>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-scale-microgrids-secures-150-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: EV Charging Platform JET Charge Receives $45 Million


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					</table><p><a href="https://jetcharge.com.au/" target="_blank" rel="noopener">JET Charge</a>, an EV charging solutions provider, has secured A$72 million (~$45 million) in funding. The funding was led by Mirova, an affiliate of Natixis Investment Managers, through its Mirova Energy Transition Fund 6, along with existing shareholders, including Clean Energy Finance Corporation (managed by Virescent Ventures), RACV, and Kilara Capital.</p>
<p>The company stated that this funding will be used to expand its ‘Charging as a Service’ offering, continue developing its technologies and accelerate deployment in Australia.</p>
<p>“This strategic capital will accelerate the rapid deployment of Charging as a Service, bolstered by the continued development of our in-house technologies, including CORE, our advanced on-site energy management system, and Illuminate, our flagship asset management platform. CaaS removes the cost and complexity of operating an EV charging network, eliminating many of the upfront capital barriers by seamlessly bridging the digital and physical worlds to deliver a reliable EV charging network.”, said Ellen Liang, Co-Founder of JET Charge</p>
<p>Founded in 2012, the company provides charging infrastructure, both hardware and software support, from individual households to highways across regional and metropolitan areas in Australia. According to the company, it has delivered 20,000 chargers and accessories so far and even started its services in New Zealand.</p>
<p>According to Mercom’s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">Report</a> for Energy Storage and Smart Grid, Venture capital funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease year-over-year compared to $8.6 billion in 68 deals in 9M 2023.</p>
<p>In October, MobilityPlus, a company that provides charging solutions for electric vehicles, <a href="https://cms.mercomindia.com/ev-charging-platform-mobilityplus-receives-43-million-funding/" target="_blank" rel="noopener">secured</a> €40 million (~$43 million) in funding from Suma Capital through its Climate Impact Fund III, an Article 9 fund for European energy transition investments. Previous investors, such as Concentra, also participated in the funding. The funds will be used to expand its EV fleet charging portfolio and grow its charging network in Belgium and France.</p>


EV Charging Platform JET Charge Receives $45 Million Funding

<p><a href="https://jetcharge.com.au/" target="_blank" rel="noopener">JET Charge</a>, an Australia-based electric vehicle (EV) charging infrastructure and technology company, announced that it had raised over A$25 million (~$17.84 million) in a Series B funding round.</p>
<p>The Royal Automobile Club of Victoria (RACV) led the Series B funding round. The Clean Energy Finance Corporation (CEFC), through the Clean Energy Innovation Fund, and Claremont Capital, Greg Roebuck, founder of Carsales.com.au, and climate tech investor Simon Monk were the other participants.</p>
<p>The company intends to utilize the fresh funding to meet the challenges and opportunities of low emissions mobility in Australia. It will continue expanding its workforce to create capable end-to-end electric vehicle charging teams in Australia and New Zealand. It will also develop and implement new technology that makes EV charging easier to own and use.</p>
<p>The company will work with its utility partners to solve power generation and demand issues as EVs play an increasing role in energy, both as electricity consumers and storage devices.</p>
<p>According to the latest data of the Electric Vehicle Council of Australia, sales of new plug-in and hybrid EVS tripled in 2021 to over 20,000 vehicles.</p>
<p>JET Charge expects the sales of new EVs will increase to 50% of new vehicles sold in Australia by 2030 from just 2% in 2021. The company said it is well-positioned to deliver the wide-ranging suite of EV charging infrastructure needed to support the anticipated growth of the market.</p>
<p>The company raised A$4.5 million (~$3.21 million) in its Series A funding round, with capital from the Clean Energy Innovation Fund and individual investors. It expanded its offering from sales and installation of charging stations to a diversified charging infrastructure that solves the challenges of owning, using, operating and integrating EV charging infrastructure.</p>
<p>Tim Washington, the founder of JET Charge, said, “With our scale and Australasian presence, JET Charge is in a unique position to ensure that Australia and New Zealand are ready for the mass adoption of EVs. This funding will allow us to realize ambitious plans immediately as well as invest in research and development to remain at the forefront of innovation in our sector.”</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/product/2021-q4-annual-funding-ma-report-storage-grid-efficiency/" target="_blank" rel="noopener">2021 Q4 and Annual Funding and M&amp;A Report for Storage, Grid, and Efficiency</a>, smart charging companies had the largest share of venture capital funding the smart grid sector in 2021, with $781 million in 18 deals.</p>


EV Charging Infrastructure Company JET Charge Raises $17.84 Million in Series B Funding

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