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CleanPeak Energy, an Australia-based renewables developer and operator, has <a href="https://cms.mercomindia.com/cleanpeak-energy-raises-328m-kkr-distributed-energy-platform/" target="_blank" rel="noopener">signed</a> a definitive agreement with KKR, a global investment firm, under which funds managed by KKR commit A$500 million (~$328 million) in funding. The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals. This funding is expected to support the growth and development of a pipeline of distributed solar, battery storage, and microgrid solutions for Australia’s commercial and industrial sector.
NOVONIX, a battery materials and technology provider, <a href="https://cms.mercomindia.com/novonix-secures-up-to-95-million-through-convertible-notes-agreement/" target="_blank" rel="noopener">entered</a> into a definitive funding agreement with Yorkville Advisors Global to secure up to $95 million. In exchange, the company is expected to issue up to $100 million of its unsecured convertible debentures to Yorkville under the terms of a multi-tranche funding agreement. These convertible notes are expected to provide the company with additional capital to continue building its Riverside facility in Chattanooga, Tennessee.
Lyten, a lithium-sulfur battery developer, has <a href="https://cms.mercomindia.com/lyten-raises-over-200-million-in-equity-funding/" target="_blank" rel="noopener">secured</a> over $200 million in additional equity investment, bringing the total investment in Lyten to date to over $625 million. The company&#8217;s existing investors primarily provided additional funding. The funding will be used to support the company’s ongoing acquisition strategy and expansion plans in both the U.S. and Europe. Additionally, the company has acquired the rights to Northvolt&#8217;s energy storage products, Voltpack Mobile Systems, Voltrack, and future BESS products currently in development. 
Treaty Oak Clean Energy, an independent power producer, announced the <a href="https://cms.mercomindia.com/treaty-oak-clean-energy-secures-300-million-corporate-credit-facility/" target="_blank" rel="noopener">closing</a> of a $300 million senior secured corporate credit facility. Proceeds from funding will support the company&#8217;s strategic growth objectives, providing essential capital for interconnection and offtake letters of credit, equipment procurement, and general corporate expenses to advance its project pipeline. Treaty Oak is a Macquarie Asset Management portfolio company, operating on a stand-alone basis with a pipeline that includes 17.3 GW of utility-scale solar, wind, and BESS projects diversified across the major power markets within the U.S.
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-and-ma-roundup-giga-green-secures-35-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: CleanPeak Energy Raises $328 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-cleanpeak-energy-raises-328-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
CleanPeak Energy, an Australia-based renewables developer and operator, has <a href="https://mercomcapital.com/cleanpeak-energy-raises-328m-kkr-distributed-energy-platform/" target="_blank" rel="noopener">signed</a> a definitive agreement with KKR, a global investment firm, under which funds managed by KKR commit A$500 million (~$328 million) in funding. The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals. This funding is expected to support the growth and development of a pipeline of distributed solar, battery storage, and microgrid solutions for Australia’s commercial and industrial sector.
NOVONIX, a battery materials and technology provider, <a href="https://mercomcapital.com/novonix-secures-up-to-95-million-through-convertible-notes-agreement/" target="_blank" rel="noopener">entered</a> into a definitive funding agreement with Yorkville Advisors Global to secure up to $95 million. In exchange, the company is expected to issue up to $100 million of its unsecured convertible debentures to Yorkville under the terms of a multi-tranche funding agreement. These convertible notes are expected to provide the company with additional capital to continue building its Riverside facility in Chattanooga, Tennessee.
Lyten, a lithium-sulfur battery developer, has <a href="https://mercomcapital.com/lyten-raises-over-200-million-in-equity-funding/" target="_blank" rel="noopener">secured</a> over $200 million in additional equity investment, bringing the total investment in Lyten to date to over $625 million. The company&#8217;s existing investors primarily provided additional funding. The funding will be used to support the company’s ongoing acquisition strategy and expansion plans in both the U.S. and Europe. Additionally, the company has acquired the rights to Northvolt&#8217;s energy storage products, Voltpack Mobile Systems, Voltrack, and future BESS products currently in development. 
Treaty Oak Clean Energy, an independent power producer, <a href="https://mercomcapital.com/treaty-oak-clean-energy-secures-300-million-corporate-credit-facility/" target="_blank" rel="noopener">announced</a> the closing of a $300 million senior secured corporate credit facility. Proceeds from funding will support the company&#8217;s strategic growth objectives, providing essential capital for interconnection and offtake letters of credit, equipment procurement, and general corporate expenses to advance its project pipeline. Treaty Oak is a Macquarie Asset Management portfolio company, operating on a stand-alone basis with a pipeline that includes 17.3 GW of utility-scale solar, wind, and BESS projects diversified across the major power markets within the U.S.
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&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-giga-green-secures-35-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.novonixgroup.com/" target="_blank" rel="noopener">NOVONIX</a>, a battery materials and technology provider, entered into a definitive funding agreement with Yorkville Advisors Global (Yorkville) to secure up to $95 million. In exchange, the company is expected to issue up to $100 million of its unsecured convertible debentures to Yorkville under the terms of a multi-tranche funding agreement.
These convertible notes are expected to provide the company with additional capital to continue building its Riverside facility in Chattanooga, Tennessee. Debentures issued to Yorkville under the funding agreement are convertible into fully paid ordinary shares of NOVONIX.
According to the agreement, Yorkville has agreed to up to $57 million under the first two tranches of the funding agreement. The first tranche of convertible debentures, worth $24.5 million, will be issued and fully drawn down upfront, raising $23,275,000, and does not require shareholder approval.
The second tranche of convertible debentures worth $35.5 million will be raised up to an additional $33,725,000 through one or more drawdowns.
“NOVONIX will begin shipping commercial-grade synthetic graphite from Riverside later this year, with mass production starting next year for our lead customer, Panasonic. The start of commercial production will mark a critical milestone for the Company as we continue to establish and build a domestic supply chain for synthetic graphite in North America,&#8221; said Mike O&#8217;Kronley, CEO of NOVONIX.
An additional tranche of up to $40,000,000 convertible debentures from the company, subject to shareholder approval at the EGM. Funding may only be drawn down under this additional tranche by mutual agreement between NOVONIX and Yorkville.
According to Mercom&#8217;s Q1 2025 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">Report</a> for Energy Storage, announced debt and public market financing for Energy Storage companies in Q1 2025 decreased 90% YoY, with $1.1 billion in 13 deals compared to $10.5 billion in six deals in Q1 2024.
In March, Lithium Americas, a mineral and mining company, <a href="https://cms.mercomindia.com/lithium-americas-announces-250-million-investment-from-orion/" target="_blank" rel="noopener">announced</a> a $250 million investment from fund entities managed by Orion Resource Partners (Orion), an investment firm specializing in metals and materials.

NOVONIX Secures Up to $95 Million Through Convertible Notes Agreement

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