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Redoxblox, a thermochemical energy storage company, <a href="https://cms.mercomindia.com/redoxblox-raises-30-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> an additional $30 million in Series A funding. The funding round was led by Prelude Ventures and joined by Imperative Ventures, New System Ventures, and existing investors Breakthrough Energy Ventures and Khosla Ventures. The company was also awarded $8.9 million from the California Energy Commission and $6.7 million from the U.S. Department of Energy this year.
eSmart Systems, an inspection and asset information management solutions provider for utilities, <a href="https://cms.mercomindia.com/esmart-systems-raises-32-million-funding/" target="_blank" rel="noopener">raised</a> €30 million (~$32 million) in new capital funding, bringing its total to €63 million (~$65 million) in the past two years. The funding round was led by TiLT Capital Partners, a French growth capital impact fund, along with Quanta Services, a U.S.-based energy infrastructure solutions company, which joined as a strategic investor.
Jupiter Power, a utility-scale energy storage project developer, <a href="https://cms.mercomindia.com/jupiter-power-secures-225-million-in-corporate-credit-facility/" target="_blank" rel="noopener">secured</a> a $225 million corporate credit facility that includes up to $175 million in letters of credit and $50 million in revolving loans. This transaction was led by Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation on the lender side, serving as coordinating lead arrangers. Kirkland &amp; Ellis acted as the borrower’s counsel, and Latham &amp; Watkins as the lenders’ counsel.
Birch Creek Energy, a utility-scale solar and energy storage project developer, has <a href="https://cms.mercomindia.com/project-developer-birch-creek-energy-closes-150-million-credit-facility/" target="_blank" rel="noopener">secured</a> a $150 million credit facility provided by KKR’s high-grade asset-based finance strategy via insurance accounts managed by KKR. This funding will extend and upsize its previous $100 million facility, and the company&#8217;s development expenses and equipment will be used for solar farms in its development portfolio.
S4 Energy, a Dutch-based grid-scale energy storage developer, <a href="https://cms.mercomindia.com/s4-energy-acquires-lc-energy-grid-services/" target="_blank" rel="noopener">announced</a> the acquisition of LC Energy Grid Service, a high-voltage battery storage platform and subsidiary of LC Energy. S4 Energy is majority-owned by Castleton Commodities International. With this acquisition, S4 Energy will be able to continue developing its existing portfolio of projects, which includes four 10 MW medium-voltage, 4-hour duration systems in the Netherlands, all of which are scheduled to become operational in 2025.
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-adden-energy-secures-15-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Redoxblox Raises $30 Million in Series A Funding

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					</table>Redoxblox, a thermochemical energy storage company, <a href="https://mercomcapital.com/redoxblox-raises-30-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> an additional $30 million in Series A funding. The funding round was led by Prelude Ventures and joined by Imperative Ventures, New System Ventures, and existing investors Breakthrough Energy Ventures and Khosla Ventures. The company was also awarded $8.9 million from the California Energy Commission and $6.7 million from the U.S. Department of Energy this year.
eSmart Systems, an inspection and asset information management solutions provider for utilities, <a href="https://mercomcapital.com/esmart-systems-raises-32-million-funding/" target="_blank" rel="noopener">raised</a> €30 million (~$32 million) in new capital funding, bringing its total to €63 million (~$65 million) in the past two years. The funding round was led by TiLT Capital Partners, a French growth capital impact fund, along with Quanta Services, a U.S.-based energy infrastructure solutions company, which joined as a strategic investor.
Jupiter Power, a utility-scale energy storage project developer, <a href="https://mercomcapital.com/jupiter-power-secures-225-million-in-corporate-credit-facility/" target="_blank" rel="noopener">secured</a> a $225 million corporate credit facility that includes up to $175 million in letters of credit and $50 million in revolving loans. This transaction was led by Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation on the lender side, serving as coordinating lead arrangers. Kirkland &amp; Ellis acted as the borrower’s counsel, and Latham &amp; Watkins as the lenders’ counsel.
Birch Creek Energy, a utility-scale solar and energy storage project developer, has secured a $150 million credit facility provided by KKR’s high-grade asset-based finance strategy via insurance accounts managed by KKR. This funding will extend and upsize its previous $100 million facility, and the company&#8217;s development expenses and equipment will be used for solar farms in its development portfolio.
S4 Energy, a Dutch-based grid-scale energy storage developer, announced the acquisition of LC Energy Grid Service, a high-voltage battery storage platform and subsidiary of LC Energy. S4 Energy is majority-owned by Castleton Commodities International. With this acquisition, S4 Energy will be able to continue developing its existing portfolio of projects, which includes four 10 MW medium-voltage, 4-hour duration systems in the Netherlands, all of which are scheduled to become operational in 2025.
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://mercomcapital.com/funding-and-ma-roundup-adden-energy-secures-15-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.

<a href="https://redoxblox.com/" target="_blank" rel="noopener">Redoxblox</a>, a thermochemical energy storage (TCES) company, raised an additional $30 million in Series A funding. The additional funding round was led by Prelude Ventures and joined by Imperative Ventures, New System Ventures, and existing investors Breakthrough Energy Ventures and Khosla Ventures.
In January, the company <a href="https://www.businesswire.com/news/home/20240111260321/en/RedoxBlox-Receives-25M-to-Demonstrate-Its-Pioneering-Long-Duration-Thermochemical-Energy-Storage-Technology" target="_blank" rel="noopener">received</a> $9.4 million in Series A financing led by Khosla Ventures. With the additional funding, the company now has $40.7 million in total in its Series A round. Redoxblox was also awarded $8.9 million from the California Energy Commission and $6.7 million from the U.S. Department of Energy this year.
The company announced its new CEO, Pasquale Romano, who was formerly President and CEO of ChargePoint and is currently a Member of The U.S. President&#8217;s National Infrastructure Advisory Council.
&#8220;Decarbonization depends on widespread adoption of cost-competitive alternatives to fossil fuels for industrial heat applications that address the time-varying nature of electricity demand and fluctuating renewable generation. Our goal is to address the density, cycle life, reliability, efficiency, and cost requirements to enable the world to decarbonize without economic compromise. Decarbonization must be a natural side effect of utilizing cost-competitive technologies to meet the world&#8217;s energy needs.&#8221; Said Pasquale Romano.
The company uses TCES units made of non-toxic, non-flammable, and recyclable materials that can operate at temperatures up to 1500°C to store energy chemically and as heat, allowing for continuous or on-demand discharge for grid or industrial processes.
According to Mercom&#8217;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.

Redoxblox Raises $30 Million in Series A Funding

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