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<a href="https://redeuxenergy.com/" target="_blank" rel="noopener">Redeux Energy Partners</a>, a utility-scale solar and storage project developer, announced the sale of a 450 MW solar project portfolio to Pine Gate Renewables, a solar project developer. The portfolio comprises three projects located in the Midcontinent Independent System Operator (MISO) South energy market.
The MISO energy market is experiencing strong demand for renewables driven by utility decarbonization goals and commercial and industrial load growth. This is the first transaction from an eleven-project, multi-state 1.7 GW portfolio brought to market in late 2023 and represented by Marathon Capital, Redeux’s lead financial sponsor.
&#8220;Redeux Energy developed turnkey assets that will be competitive additions to our growing MISO pipeline,&#8221; said Andrew Vietze, Senior Vice President for Mergers and Acquisitions at Pine Gate Renewables. &#8220;The Redeux and Marathon teams were a pleasure to work with and we look forward to future business opportunities with both partners.&#8221;
The acquired projects support Pine Gate’s operational portfolio and development pipeline.
Redeux Energy is stated to have a project pipeline totaling approximately 7 GW solar and 7 GWh energy storage capacity spread across the Electric Reliability Council of Texas (ERCOT), MISO, SERC Reliability Corporation (SERC), and the Western Electricity Coordinating Council (WECC) energy markets.
&#8220;This sale is a tremendous milestone for Redeux Energy to achieve, validating both the quality of our projects and the market demand from top-tier owner-operators,&#8221; said William Harrison, CEO of Cathexis Holdings, the company&#8217;s largest shareholder. &#8220;We are thrilled with progress to date and looking forward to continued growth and additional portfolio sales.&#8221;
According to Mercom’s Q1 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, almost 10.8 GW of solar projects were acquired in Q1 2024 compared to 11.9 GW in Q1 2023. In a QoQ comparison, 13.7 GW of solar projects were acquired in Q4 2023.
Recently, Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar announced the completion of the <a href="https://cms.mercomindia.com/recurrent-energy-sells-the-middle-road-solar-project-in-the-uk/" target="_blank" rel="noopener">sale</a> of its 49.9 MW Middle Road solar project in Harbury, Warwickshire, U.K. Centrica Business Solutions, an integrated energy solutions company, acquired the project.

Redeux Energy Sells 450 MW Solar Portfolio to Pine Gate Renewables

Pine Gate Renewables, a solar project developer, <a href="https://cms.mercomindia.com/pine-gate-renewables-secures-capital-funding/" target="_blank" rel="noopener">secured</a> a $650 million investment from Generate Capital, the Healthcare of Ontario Pension Plan, and HESTA. The transaction extends Generate Capital’s existing partnership with Pine Gate and brings new institutional investors to the solar developer’s platform. The investment aims to expedite Pine Gate&#8217;s efforts as a developer, owner, and operator of clean energy projects and facilitate financing an additional 3 GW of clean energy infrastructure by 2025.
AdaniConneX, a data center solutions provider and a joint venture between Adani Enterprises and EdgeConneX, has established sustainability-linked financing to <a href="https://www.mercomindia.com/adaniconnex-green-financing-data-centers" target="_blank" rel="noopener">raise</a> $1.44 billion to fund its renewable-powered data centers and enable digital infrastructure growth in the country. The company said the upcoming data center facilities would leverage technologies and renewable energy solutions to minimize the ecological footprint while optimizing operational efficiency.
Agilitas Energy, a developer, builder, owner, and operator of distributed energy storage and solar projects, announced the <a href="https://cms.mercomindia.com/solar-and-storage-developer-agilitas-energy-secures-funding/" target="_blank" rel="noopener">closing</a> of $100 million in debt financing to fund its growth and continued national expansion. Nomura Securities International acted as the sole bookrunner and lead arranger. Nomura Corporate Funding Americas acted as an administrative agent on the deal, which may be further upsized to $200 million upon the completion of certain projects.
Exowatt, a provider of thermal energy solutions for data centers, <a href="https://cms.mercomindia.com/exowatt-secures-20-million-for-addressing-data-center-energy-requirements/" target="_blank" rel="noopener">secured</a> $20 million in a seed funding round from a16z, Atomic, and Open AI’s Sam Altman to capitalize on the booming demand of the AI market, which is escalating the energy costs for data centers. With the recent funding secured, the company plans to bolster its team and introduce the Exowatt P3 to its initial roster of data center customers.
Harmony Energy, a utility-scale energy storage project developer, <a href="https://cms.mercomindia.com/harmony-energy-secures-credit-facility/" target="_blank" rel="noopener">secured</a> a £10 million (~$12.5 million) credit facility from Triodos Bank UK to support the development of new projects and its expansion across Europe. The new facility is the bank’s first UK loan to the standalone energy storage sector. Currently, the company has 516 MW/1.032 GWh of BESS operational capacity. Harmony has a global pipeline of over 11 GW, of which 268 MW/536 MWh is under construction.
Terra One, a startup specializing in grid-connected battery energy storage solutions, <a href="https://cms.mercomindia.com/terra-one-secures-in-seed-financing/" target="_blank" rel="noopener">secured</a> $7.5 million in seed funding, led by PT1, an early-stage venture capital firm specializing in real asset technologies, and neosfer, an early-stage investor associated with Commerzbank. Other participants include 468 Capital, N26 cofounder Maximilian Tayenthal, as well as the scout funds of renowned entities like Andreessen Horowitz and Hedosophia. The company intends to strategically utilize the funds to bolster its team, particularly by hiring skilled engineers and project finance experts.
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-ma-roundup-ev-charging-firm-swtch-raises-27-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Pine Gate Renewables Secures $650 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-pine-gate-renewables-secures-650-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Pine Gate Renewables, a solar project developer, <a href="https://mercomcapital.com/pine-gate-renewables-secures-capital-funding/" target="_blank" rel="noopener">secured</a> a $650 million investment from Generate Capital, the Healthcare of Ontario Pension Plan, and HESTA. The transaction extends Generate Capital’s existing partnership with Pine Gate and brings new institutional investors to the solar developer’s platform. The investment aims to expedite Pine Gate&#8217;s efforts as a developer, owner, and operator of clean energy projects and facilitate financing an additional 3 GW of clean energy infrastructure by 2025.
AdaniConneX, a data center solutions provider and a joint venture between Adani Enterprises and EdgeConneX, has established sustainability-linked financing to <a href="https://www.mercomindia.com/adaniconnex-green-financing-data-centers" target="_blank" rel="noopener">raise</a> $1.44 billion to fund its renewable-powered data centers and enable digital infrastructure growth in the country. The company said the upcoming data center facilities would leverage technologies and renewable energy solutions to minimize the ecological footprint while optimizing operational efficiency.
Agilitas Energy, a developer, builder, owner, and operator of distributed energy storage and solar projects, announced the <a href="https://mercomcapital.com/solar-and-storage-developer-agilitas-energy-secures-funding/" target="_blank" rel="noopener">closing</a> of $100 million in debt financing to fund its growth and continued national expansion. Nomura Securities International acted as the sole bookrunner and lead arranger. Nomura Corporate Funding Americas acted as an administrative agent on the deal, which may be further upsized to $200 million upon the completion of certain projects.
Exowatt, a provider of thermal energy solutions for data centers, <a href="https://mercomcapital.com/exowatt-secures-20-million-for-addressing-data-center-energy-requirements/" target="_blank" rel="noopener">secured</a> $20 million in a seed funding round from a16z, Atomic, and Open AI’s Sam Altman to capitalize on the booming demand of the AI market, which is escalating the energy costs for data centers. With the recent funding secured, the company plans to bolster its team and introduce the Exowatt P3 to its initial roster of data center customers.
Harmony Energy, a utility-scale energy storage project developer, <a href="https://mercomcapital.com/harmony-energy-secures-credit-facility/" target="_blank" rel="noopener">secured</a> a £10 million (~$12.5 million) credit facility from Triodos Bank UK to support the development of new projects and its expansion across Europe. The new facility is the bank’s first UK loan to the standalone energy storage sector. Currently, the company has 516 MW/1.032 GWh of BESS operational capacity. Harmony has a global pipeline of over 11 GW, of which 268 MW/536 MWh is under construction.
Terra One, a startup specializing in grid-connected battery energy storage solutions, <a href="https://mercomcapital.com/terra-one-secures-in-seed-financing/" target="_blank" rel="noopener">secured</a> $7.5 million in seed funding, led by PT1, an early-stage venture capital firm specializing in real asset technologies, and neosfer, an early-stage investor associated with Commerzbank. Other participants include 468 Capital, N26 cofounder Maximilian Tayenthal, as well as the scout funds of renowned entities like Andreessen Horowitz and Hedosophia. The company intends to strategically utilize the funds to bolster its team, particularly by hiring skilled engineers and project finance experts.
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-ev-charging-swtch-raises-27-million" target="_blank" rel="noopener">roundup</a>.

Sunlight Group, a provider of energy storage systems, has <a href="https://www.systems-sunlight.com/corporate-news/2022/06/16922/" target="_blank" rel="noopener">received</a> a €150 million (~$158 million) loan from the National Bank of Greece. The loan agreement has a duration of seven years. The company plans to use €125 million (~$132 million) to fund the company’s five-year growth business plan (2021-2026). The other €25 million (~$26 million) will be used to secure the permanent working capital needs. The funding will also be used to expand the company’s production capacity in lead-acid batteries, lithium-ion batteries, and energy storage systems by upgrading its facilities in Greece (Xanthi, Komotini, and Kilkis), Italy (Verona and Vignola), and the U.S. (North Carolina). The company, with the help of the funds, received aims to develop innovative products, with a focus on lithium technology, with plans to expand sales, distribution, services network and strengthen its supply chain network.
German-based solar startup ENVIRIA <a href="https://cms.mercomindia.com/german-solar-startup-enviria-raises-series-a-funding/" target="_blank" rel="noopener">raised</a> €22.5 million (~$23.6 million) in a Series A funding round. The round was co-led by Redalpine and Galileo Green Energy. Other investors include BNP Paribas Developpement and Alter Equity. The company will use the proceeds to scale up and develop its solar energy solutions.
Pine Gate Renewables, a solar project developer, has <a href="https://cms.mercomindia.com/pine-gate-renewables-secures-solar-expansion/" target="_blank" rel="noopener">secured</a> a $500 million investment from Generate Capital, a sustainable infrastructure investment firm. The investment includes a $200 million equity investment and a $300 million commitment for a long-term asset partnership for solar project financing. The investment provides the company with additional capital to fund the construction and development of renewable energy projects and meet other general working capital purposes. Generate will also join Pine Gate’s Board of Directors.
Energy Dome, a provider of utility-scale long-duration energy storage solutions, <a href="https://energydome.com/energy-dome-closes-11m-convertible-round-to-accelerate-commercial-deployment-of-co2-battery/" target="_blank" rel="noopener">received</a> $11 million in a bridge funding round. The convertible funding was led by the Evolution Fund of CDP Venture Capital Sgr, together with existing investor Barclays, through their Sustainable Impact Capital program and Novum Capital Partners, an existing shareholder in Energy Dome. With the closing of this convertible round, the company has raised a total of $25 million since February 2020.
Singapore-based start-up NEU Battery Materials, a lithium recycling company, <a href="https://cms.mercomindia.com/neu-battery-materials-secures-seed-funding/" target="_blank" rel="noopener">raised</a> S$800,000 (~$0.54 million) in a seed funding round. Momentum Venture Capital and Se-cure Waste Management led the seed round with two business angels in the energy storage and sustainability sectors and earlier funding from the NUS Graduate Research Innovation Program (GRIP). The company plans to use the proceeds to build a pilot recycling plant in Singapore to recycle lithium from used lithium batteries.
<a href="https://okrasolar.com/" target="_blank" rel="noopener">Okra Solar</a>, an Australian renewable energy deep-tech company, <a href="https://cms.mercomindia.com/okra-solar-raises-2-1-million/" target="_blank" rel="noopener">secured</a> $2.1 million in a pre-series A funding round. Explorer investments and Didendum led the funding round, along with Schneider Electric Energy Access &amp; Autodesk Foundation. SDGx, a private UN Sustainable Development Goals (SDGs) technology fund and advisory group, also participated in the round. The company intends to use the funds to scale its commercial operations and product development as it expands throughout Nigeria and Haiti.
Posh, a startup that automates EV battery recycling to build sustainable energy storage solutions, has <a href="https://cms.mercomindia.com/posh-raises-3-8-million/" target="_blank" rel="noopener">raised</a> $3.8 million in a seed funding round. Y Combinator-backed startup – Posh – was founded in 2021 by Wesley Zheng and Chung Hoang. Investors who participated in the round include Y Combinator, Metaplanet, Outbound Capital, Starling Ventures, Uphonest Capital, Global Founders Capital, and Muse lead singer Matt Bellamy (through Helium-3 Ventures).
India-based Battery Smart, a battery-swapping network for electric two and three-wheelers, <a href="https://mercomindia.com/battery-smart-raises-25-million-funding/" target="_blank" rel="noopener">announced</a> the closing of a Series A round funding of $25 million led by Tiger Global. The company plans to use the funds to extend its offerings to more electric vehicle users pan-India by increasing the number of swap stations and expanding its partnerships with original equipment manufacturers (OEMs) and fleet operators. The funds will also be used to strengthen its Battery Assignment Technology.
India-based lithium-ion battery recycling startup BatX Energies <a href="https://mercomindia.com/batx-energies-raises-1-6-million/" target="_blank" rel="noopener">raised</a> $1.6 million in a seed funding round led by JITO Angel Network. The round saw participation from existing investors such as Rohit Chanana of Sarcha Advisors and Anmol Jaggi from BluSmart Electric. Mankind Pharma’s Kamaljyot Investments and Haldiram’s Family Offices also participated in the seed funding round. BatX Energies will utilize the funds to establish a commercial-scale rare earth battery-materials extraction plant integrated with artificial intelligence (AI). BatX will start specific material extraction via their proprietary chemical process at their recycling unit, which is already producing black mass — a mixture of battery anode and cathode materials.
ThomasLloyd Energy Impact Trust plc, a renewable energy investment trust, has <a href="https://mercomindia.com/thomaslloyd-trust-acquires-the-remaining-57-stake-in-solararise-india/" target="_blank" rel="noopener">acquired</a> the remaining 57% interest in <a href="https://www.solararise.com/" target="_blank" rel="noopener">SolarArise India Projects</a> for a cash consideration of $38.5 million. The transaction is expected to be completed in the coming weeks. The <a href="https://mercomindia.com/thomaslloyd-stakes-solar-developer-solararise/" target="_blank" rel="noopener">initial</a> 43% interest acquired in SolarArise in 2018 was a part of the seed assets outlined at the initial purchase offering (IPO). The acquisition of the remaining interest is likely to be completed in the fourth quarter of 2022.
CaixaBank has <a href="https://frv.com/en/caixabank-concede-a-frv-una-linea-verde-de-avales-de-40e-millones/" target="_blank" rel="noopener">granted</a> Fotowatio Renewable Ventures (FRV), a developer of sustainable energy solutions, part of Abdul Latif Jameel Energy, a line of green guarantees amounting to €40 million (~$42.30 million). This green facility will be available for one year, with an option for renewal, and will enable FRV to develop projects with a positive impact on the environment, as well as improve its financial flexibility.
Electric mobility and energy storage-focused startup Matter, operated by Matter Motor Works, announced it would <a href="https://www.vccircle.com/baring-backed-matter-raises-10-mn-from-info-edge-s-capital-2b-fund-others" target="_blank" rel="noopener">raise</a> $10 million in its first round of funding from Info Edge’s Capital 2B Fund 1, Climate Angel Fund, and other Indian and overseas high networth individuals (HNIs). The electric vehicle maker, backed by private equity major Baring PE, will look to raise an additional $10 million. The fresh funds will be used towards launching this new vehicle and energy storage products. The company has invested $7.5 million in research and development so far.
Battery-storage company Field has <a href="https://www.bnnbloomberg.ca/uk-battery-storage-firm-field-raises-95-million-of-new-funding-1.1784686" target="_blank" rel="noopener">raised</a> £77 million (~$95 million) of fresh funding to build renewable-energy infrastructure across the UK.  The funding includes a £47 million (~$57.7 million) debt facility from Triple Point Energy Investment Company, structured to reduce Field’s interest rate on loan in proportion to the carbon-emissions savings generated by its portfolio of battery assets.
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-power-factors-acquires-inaccess/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Energy Storage Company Sunlight Secures $158 Million Loan

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-energy-storage-sunlight/" target="_blank" rel="noopener">Mercom Capital Group</a>
Sunlight Group, a provider of energy storage systems, has <a href="https://www.systems-sunlight.com/corporate-news/2022/06/16922/" target="_blank" rel="noopener">received</a> a €150 million (~$158 million) loan from the National Bank of Greece. The loan agreement has a duration of seven years. The company plans to use €125 million (~$132 million) to fund the company’s five-year growth business plan (2021-2026). The other €25 million (~$26 million) will be used to secure the permanent working capital needs. The funding will also be used to expand the company’s production capacity in lead-acid batteries, lithium-ion batteries, and energy storage systems by upgrading its facilities in Greece (Xanthi, Komotini, and Kilkis), Italy (Verona and Vignola), and the U.S. (North Carolina). The company, with the help of the funds, received aims to develop innovative products, with a focus on lithium technology, with plans to expand sales, distribution, services network and strengthen its supply chain network.
German-based solar startup ENVIRIA <a href="https://mercomcapital.com/german-solar-startup-enviria-raises-series-a-funding/" target="_blank" rel="noopener">raised</a> €22.5 million (~$23.6 million) in a Series A funding round. The round was co-led by Redalpine and Galileo Green Energy. Other investors include BNP Paribas Developpement and Alter Equity. The company will use the proceeds to scale up and develop its solar energy solutions.
 Pine Gate Renewables, a solar project developer, has <a href="https://mercomcapital.com/pine-gate-renewables-secures-solar-expansion/" target="_blank" rel="noopener">secured</a> a $500 million investment from Generate Capital, a sustainable infrastructure investment firm. The investment includes a $200 million equity investment and a $300 million commitment for a long-term asset partnership for solar project financing. The investment provides the company with additional capital to fund the construction and development of renewable energy projects and meet other general working capital purposes. Generate will also join Pine Gate’s Board of Directors.
Energy Dome, a provider of utility-scale long-duration energy storage solutions, <a href="https://energydome.com/energy-dome-closes-11m-convertible-round-to-accelerate-commercial-deployment-of-co2-battery/" target="_blank" rel="noopener">received</a> $11 million in a bridge funding round. The convertible funding was led by the Evolution Fund of CDP Venture Capital Sgr, together with existing investor Barclays, through their Sustainable Impact Capital program and Novum Capital Partners, an existing shareholder in Energy Dome. With the closing of this convertible round, the company has raised a total of $25 million since February 2020.
Singapore-based start-up NEU Battery Materials, a lithium recycling company, <a href="https://mercomcapital.com/neu-battery-materials-secures-seed-funding/" target="_blank" rel="noopener">raised</a> S$800,000 (~$0.54 million) in a seed funding round. Momentum Venture Capital and Se-cure Waste Management led the seed round with two business angels in the energy storage and sustainability sectors and earlier funding from the NUS Graduate Research Innovation Program (GRIP). The company plans to use the proceeds to build a pilot recycling plant in Singapore to recycle lithium from used lithium batteries.
<a href="https://okrasolar.com/" target="_blank" rel="noopener">Okra Solar</a>, an Australian renewable energy deep-tech company, <a href="https://mercomcapital.com/okra-solar-raises-2-1-million/" target="_blank" rel="noopener">secured</a> $2.1 million in a pre-series A funding round. Explorer investments and Didendum led the funding round, along with Schneider Electric Energy Access &amp; Autodesk Foundation. SDGx, a private UN Sustainable Development Goals (SDGs) technology fund and advisory group, also participated in the round. The company intends to use the funds to scale its commercial operations and product development as it expands throughout Nigeria and Haiti.
Posh, a startup that automates EV battery recycling to build sustainable energy storage solutions, has <a href="https://mercomcapital.com/posh-raises-3-8-million/" target="_blank" rel="noopener">raised</a> $3.8 million in a seed funding round. Y Combinator-backed startup – Posh – was founded in 2021 by Wesley Zheng and Chung Hoang. Investors who participated in the round include Y Combinator, Metaplanet, Outbound Capital, Starling Ventures, Uphonest Capital, Global Founders Capital, and Muse lead singer Matt Bellamy (through Helium-3 Ventures).
India-based Battery Smart, a battery-swapping network for electric two and three-wheelers, <a href="https://mercomindia.com/battery-smart-raises-25-million-funding/" target="_blank" rel="noopener">announced</a> the closing of a Series A round funding of $25 million led by Tiger Global. The company plans to use the funds to extend its offerings to more electric vehicle users pan-India by increasing the number of swap stations and expanding its partnerships with original equipment manufacturers (OEMs) and fleet operators. The funds will also be used to strengthen its Battery Assignment Technology.
India-based lithium-ion battery recycling startup BatX Energies <a href="https://mercomindia.com/batx-energies-raises-1-6-million/" target="_blank" rel="noopener">raised</a> $1.6 million in a seed funding round led by JITO Angel Network. The round saw participation from existing investors such as Rohit Chanana of Sarcha Advisors and Anmol Jaggi from BluSmart Electric. Mankind Pharma’s Kamaljyot Investments and Haldiram’s Family Offices also participated in the seed funding round. BatX Energies will utilize the funds to establish a commercial-scale rare earth battery-materials extraction plant integrated with artificial intelligence (AI). BatX will start specific material extraction via their proprietary chemical process at their recycling unit, which is already producing black mass — a mixture of battery anode and cathode materials.
ThomasLloyd Energy Impact Trust plc, a renewable energy investment trust, has <a href="https://mercomindia.com/thomaslloyd-trust-acquires-the-remaining-57-stake-in-solararise-india/" target="_blank" rel="noopener">acquired</a> the remaining 57% interest in <a href="https://www.solararise.com/" target="_blank" rel="noopener">SolarArise India Projects</a> for a cash consideration of $38.5 million. The transaction is expected to be completed in the coming weeks. The <a href="https://mercomindia.com/thomaslloyd-stakes-solar-developer-solararise/" target="_blank" rel="noopener">initial</a> 43% interest acquired in SolarArise in 2018 was a part of the seed assets outlined at the initial purchase offering (IPO). The acquisition of the remaining interest is likely to be completed in the fourth quarter of 2022.
CaixaBank has <a href="https://frv.com/en/caixabank-concede-a-frv-una-linea-verde-de-avales-de-40e-millones/" target="_blank" rel="noopener">granted</a> Fotowatio Renewable Ventures (FRV), a developer of sustainable energy solutions, part of Abdul Latif Jameel Energy, a line of green guarantees amounting to €40 million (~$42.30 million). This green facility will be available for one year, with an option for renewal, and will enable FRV to develop projects with a positive impact on the environment, as well as improve its financial flexibility.
Electric mobility and energy storage-focused startup Matter, operated by Matter Motor Works, announced it would <a href="https://www.vccircle.com/baring-backed-matter-raises-10-mn-from-info-edge-s-capital-2b-fund-others" target="_blank" rel="noopener">raise</a> $10 million in its first round of funding from Info Edge’s Capital 2B Fund 1, Climate Angel Fund, and other Indian and overseas high networth individuals (HNIs). The electric vehicle maker, backed by private equity major Baring PE, will look to raise an additional $10 million. The fresh funds will be used towards launching this new vehicle and energy storage products. The company has invested $7.5 million in research and development so far.
Battery-storage company Field has <a href="https://www.bnnbloomberg.ca/uk-battery-storage-firm-field-raises-95-million-of-new-funding-1.1784686" target="_blank" rel="noopener">raised</a> £77 million (~$95 million) of fresh funding to build renewable-energy infrastructure across the UK.  The funding includes a £47 million (~$57.7 million) debt facility from Triple Point Energy Investment Company, structured to reduce Field’s interest rate on loan in proportion to the carbon-emissions savings generated by its portfolio of battery assets.
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://mercomcapital.com/funding-and-ma-roundup-power-factors-acquires-inaccess/" target="_blank" rel="noopener">roundup</a>.

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