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phelas, a provider of long-duration energy storage solutions, <a href="https://cms.mercomindia.com/phelas-secures-4-5-million-seed-funding/" target="_blank" rel="noopener">secured</a> €4.1 million (~$4.5 million) in a seed funding round led by E44 Ventures, an Israel-leading climate tech fund. It also saw participation from Axon Partners Group, Deutsche Telekom Hubraum Fund, BNV Partners, other investors, and existing angel investors. phelas specializes in the development of its Aurora long-duration energy storage, a proprietary Liquid Air Energy Storage technology that is modular, scalable, and tailored for integrating with renewable energy sources.
Glimpse, a provider of battery quality monitoring solutions for battery producers and electric mobility companies, <a href="https://cms.mercomindia.com/glimpse-raises-4-million-in-seed-funding/" target="_blank" rel="noopener">raised</a> $4 million in a seed funding round from venture capital firms Ibex Mobility and Flybridge Capital Partners and a syndicate of battery and EV angel investors. The company has created a battery quality monitoring platform.
Attron Automotive, an electric mobility motor and controller solutions company, has <a href="https://www.mercomindia.com/attron-secures-seed-funding-round" target="_blank" rel="noopener">raised</a> ₹47.5 million (~$573,956) in a seed funding round led by Anicut Capital and co-led by Venture Catalysts. The company will use the funding to promote electric mobility with technology and innovation. The company is setting up a new facility that will produce 8,000 units every month, allowing Attron to meet its growing demand for motor and controller solutions, particularly in the electric two-wheeler and three-wheeler segments.
Sermsang Palang Ngan Company (SPN), a renewable energy project developer, <a href="https://cms.mercomindia.com/spn-secures-64-million-loan-for-renewables-expansion/" target="_blank" rel="noopener">secured</a> $64 million through a green loan facility provided by the International Finance Corporation (IFC). The financing package includes an IFC loan of up to $32 million (THB1.2 billion) and a parallel loan from Siam Commercial Bank (SCB) for a similar amount. IFC&#8217;s funding will help SPN finance the acquisition, development, and construction of renewable projects—especially solar farms, solar rooftops, and biomass—in Thailand as well as in other ASEAN countries.
Volvo Cars has <a href="https://www.media.volvocars.com/global/en-gb/media/pressreleases/325193/volvo-cars-partners-with-and-invests-in-breathe-for-next-generation-fast-charging" target="_blank" rel="noopener">announced</a> an investment in UK-based battery management software startup Breathe Battery Technologies. Volvo plans to use the company&#8217;s battery software to cut charging time for its next generation of electric vehicles by 30% while maintaining the same energy density and range. Breathe’s software uses adaptive charging to dynamically control the battery in real-time, resulting in shorter charging times.
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-ascend-elements-raises-162-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Energy Storage Firm phelas Secures $4.5 Million Funding

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-energy-storage-firm-phelas-secures-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
phelas, a provider of long-duration energy storage solutions, <a href="https://mercomcapital.com/phelas-secures-4-5-million-seed-funding/" target="_blank" rel="noopener">secured</a> €4.1 million (~$4.5 million) in a seed funding round led by E44 Ventures, an Israel-leading climate tech fund. It also saw participation from Axon Partners Group, Deutsche Telekom Hubraum Fund, BNV Partners, other investors, and existing angel investors. phelas specializes in the development of its Aurora long-duration energy storage, a proprietary Liquid Air Energy Storage technology that is modular, scalable, and tailored for integrating with renewable energy sources.
Glimpse, a provider of battery quality monitoring solutions for battery producers and electric mobility companies, <a href="https://mercomcapital.com/glimpse-raises-4-million-in-seed-funding/" target="_blank" rel="noopener">raised</a> $4 million in a seed funding round from venture capital firms Ibex Mobility and Flybridge Capital Partners and a syndicate of battery and EV angel investors. The company has created a battery quality monitoring platform.
Attron Automotive, an electric mobility motor and controller solutions company, has <a href="https://www.mercomindia.com/attron-secures-seed-funding-round" target="_blank" rel="noopener">raised</a> ₹47.5 million (~$573,956) in a seed funding round led by Anicut Capital and co-led by Venture Catalysts. The company will use the funding to promote electric mobility with technology and innovation. The company is setting up a new facility that will produce 8,000 units every month, allowing Attron to meet its growing demand for motor and controller solutions, particularly in the electric two-wheeler and three-wheeler segments.
Sermsang Palang Ngan Company (SPN), a renewable energy project developer, <a href="https://mercomcapital.com/spn-secures-64-million-loan-for-renewables-expansion/" target="_blank" rel="noopener">secured</a> $64 million through a green loan facility provided by the International Finance Corporation (IFC). The financing package includes an IFC loan of up to $32 million (THB1.2 billion) and a parallel loan from Siam Commercial Bank (SCB) for a similar amount. IFC&#8217;s funding will help SPN finance the acquisition, development, and construction of renewable projects—especially solar farms, solar rooftops, and biomass—in Thailand as well as in other ASEAN countries.
Volvo Cars has <a href="https://www.media.volvocars.com/global/en-gb/media/pressreleases/325193/volvo-cars-partners-with-and-invests-in-breathe-for-next-generation-fast-charging" target="_blank" rel="noopener">announced</a> an investment in UK-based battery management software startup Breathe Battery Technologies. Volvo plans to use the company&#8217;s battery software to cut charging time for its next generation of electric vehicles by 30% while maintaining the same energy density and range. Breathe’s software uses adaptive charging to dynamically control the battery in real-time, resulting in shorter charging times.
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-powerdot-secures-108-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://phelas.com/" target="_blank" rel="noopener">phelas</a>, a provider of long-duration energy storage solutions, secured €4.1 million (~$4.5 million) in seed funding. The round was led by E44 Ventures, an Israel-leading climate tech fund, with participation from Axon Partners Group, Deutsche Telekom hubraum Fund, BNV Partners, other investors, and existing angel investors.
phelas specializes in the development of its Aurora long-duration energy storage, a proprietary Liquid Air Energy Storage technology that is modular, scalable, and tailored for integrating with renewable energy sources.
“Making 100% renewable energy globally a no-brainer. We started phelas to make this vision reality and enable our customers build the renewable energy system of the future. Renewables + storage must become the cheapest, most sustainable, and most reliable power supply globally,” said phelas CEO Justin Scholz.
The funding will be used to scale up the phelas Liquid Air Energy Storage to a megawatt scale to deploy the systems in the EU and expand on its industry-leading technology. phelas is expected to work closely with the industry and leverage expertise from Chemical Engineering Sector Engineering Procurement and Construction (EPC) companies.
“phelas is leading the charge in transforming the energy storage system space. With their pioneering approach, phelas is reshaping how energy is stored and managed, as well as drive a more efficient use of renewable energy. phelas has potential to shape a brighter future for sustainable energy solutions.” Gabriela Brodzińska-Drozd – Investment Manager at Deutsche Telekom hub:raum Fund.
According to Mercom’s Annual and Q4 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid, Venture capital (VC/PE) funding in Energy Storage in 2023 was the highest ever recorded, increasing 59% year-over-year (YoY), with $9.2 billion in 86 deals compared to the $5.8 billion raised in 96 deals in 2022.
Energy Dome, a provider of long-duration energy storage solutions, <a href="https://cms.mercomindia.com/energy-dome-gets-44-million-in-funding/" target="_blank" rel="noopener">raised</a> €40 million (~$44 million) in a Series B funding round led by Eni Next and Neva SGR. The investment will help Energy Dome scale up its CO2 Battery technology, which uses carbon dioxide to store renewable energy on the grid.

phelas Secures $4.5 Million Seed Funding

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