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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-redwood-materials-raises-350-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Battery recycling firm Redwood Materials <a href="https://mercomcapital.com/redwood-materials-raises-350-million-in-series-e-funding/" target="_blank" rel="noopener">closed</a> a $350 million Series E funding round, led by Eclipse, with participation from NVentures, the venture capital arm of NVIDIA, and other new strategic investors. The oversubscribed round will accelerate Redwood’s expansion across its two primary business lines: Critical Materials and Grid Energy Storage. Initially focused on battery recycling and cathode active material production, the company has now expanded into energy storage solutions.
Sizable Energy, a clean-tech energy-storage developer specializing in offshore pumped hydro energy storage, <a href="https://mercomcapital.com/offshore-pumped-hydro-storage-startup-sizable-energy-raises-8-million/" target="_blank" rel="noopener">raised</a> $8 million, led by Playground Global, with participation from Exa Ventures, Verve Ventures, Satgana, EDEN/IAG, and Unruly Capital, which led a previous round. The newly raised capital will accelerate the development and deployment of this offshore technology. The company has begun preparations for its subsequent sea trial off the coast of Reggio Calabria, Italy.
Industrial-scale green hydrogen generation company HYDGEN <a href="https://www.mercomindia.com/green-hydrogen-producer-hydgen-raises-5-million-in-equity-and-debt/" target="_blank" rel="noopener">raised</a> $5 million in a mix of equity and debt round led by Transition VC, with participation from Cloudberry Pioneer Investments (Europe), Moringa Ventures (Singapore), and strategic family offices from India and Singapore. HYDGEN will utilize the funding to accelerate its efforts to provide ultra-pure, cost-efficient hydrogen directly at the point of use through its proprietary anion-exchange membrane electrolyzer technology.
Renewable energy intelligence company Smart Grid Analytics <a href="https://www.mercomindia.com/smart-grid-analytics-raises-3-3-million-from-strategic-investors" target="_blank" rel="noopener">raised</a> $3.3 million (~₹289.75 million) in funding from strategic investors and clean energy veterans worldwide. The funding will be used to develop technology to make renewable power projects more intelligent, efficient, and autonomous, enabling grids to meet and exceed renewable energy targets. It will also help with product deployment across 20 countries for solar, wind, hybrid, and battery energy storage system projects.
Hydrogen fuel cell manufacturer Umagine Hydrogen <a href="https://www.mercomindia.com/fuel-cell-firm-umagine-hydrogen-secures-850000-seed-funding" target="_blank" rel="noopener">secured</a> $850,000 (~₹74.78 million) funding in a seed round from Venture Catalysts. Apart from Venture Catalysts, the funding saw participation from Faad Networks. It will be utilized to build a gigawatt-scale factory dedicated to hydrogen fuel cells. Umagine also aims to replace diesel generators across telecom towers, data centers, remote microgrids, and defense outposts and to provide long-duration energy storage solutions.
Electra Battery Materials, a provider of battery-grade materials for the electric vehicle and energy storage industries, <a href="https://mercomcapital.com/electra-battery-materials-completes-financing-and-debt-restructuring/" target="_blank" rel="noopener">announced</a> the completion of its $34.5 million financing and $40 million debt equitization for its cobalt sulfate refinery in Temiskaming Shores, Ontario, Canada. With these transactions and previously announced government commitments, Electra has secured all the capital required to complete construction and commissioning of the cobalt sulfate refinery.
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-return-raises-348-million" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Redwood Materials Raises $350 Million

Battery recycling firm Redwood Materials <a href="https://cms.mercomindia.com/redwood-materials-raises-350-million-in-series-e-funding/" target="_blank" rel="noopener">closed</a> a $350 million Series E funding round, led by Eclipse, with participation from NVentures, the venture capital arm of NVIDIA, and other new strategic investors. The oversubscribed round will accelerate Redwood’s expansion across its two primary business lines: Critical Materials and Grid Energy Storage. Initially focused on battery recycling and cathode active material production, the company has now expanded into energy storage solutions.
Sizable Energy, a clean-tech energy-storage developer specializing in offshore pumped hydro energy storage, <a href="https://cms.mercomindia.com/offshore-pumped-hydro-storage-startup-sizable-energy-raises-8-million/" target="_blank" rel="noopener">raised</a> $8 million, led by Playground Global, with participation from Exa Ventures, Verve Ventures, Satgana, EDEN/IAG, and Unruly Capital, which led a previous round. The newly raised capital will accelerate the development and deployment of this offshore technology. The company has begun preparations for its subsequent sea trial off the coast of Reggio Calabria, Italy.
Industrial-scale green hydrogen generation company HYDGEN <a href="https://www.mercomindia.com/green-hydrogen-producer-hydgen-raises-5-million-in-equity-and-debt/" target="_blank" rel="noopener">raised</a> $5 million in a mix of equity and debt round led by Transition VC, with participation from Cloudberry Pioneer Investments (Europe), Moringa Ventures (Singapore), and strategic family offices from India and Singapore. HYDGEN will utilize the funding to accelerate its efforts to provide ultra-pure, cost-efficient hydrogen directly at the point of use through its proprietary anion-exchange membrane electrolyzer technology.
Renewable energy intelligence company Smart Grid Analytics <a href="https://www.mercomindia.com/smart-grid-analytics-raises-3-3-million-from-strategic-investors" target="_blank" rel="noopener">raised</a> $3.3 million (~₹289.75 million) in funding from strategic investors and clean energy veterans worldwide. The funding will be used to develop technology to make renewable power projects more intelligent, efficient, and autonomous, enabling grids to meet and exceed renewable energy targets. It will also help with product deployment across 20 countries for solar, wind, hybrid, and battery energy storage system projects.
Hydrogen fuel cell manufacturer Umagine Hydrogen <a href="https://www.mercomindia.com/fuel-cell-firm-umagine-hydrogen-secures-850000-seed-funding" target="_blank" rel="noopener">secured</a> $850,000 (~₹74.78 million) funding in a seed round from Venture Catalysts. Apart from Venture Catalysts, the funding saw participation from Faad Networks. It will be utilized to build a gigawatt-scale factory dedicated to hydrogen fuel cells. Umagine also aims to replace diesel generators across telecom towers, data centers, remote microgrids, and defense outposts and to provide long-duration energy storage solutions.
Electra Battery Materials, a provider of battery-grade materials for the electric vehicle and energy storage industries, <a href="https://cms.mercomindia.com/electra-battery-materials-completes-financing-and-debt-restructuring/" target="_blank" rel="noopener">announced</a> the completion of its $34.5 million financing and $40 million debt equitization for its cobalt sulfate refinery in Temiskaming Shores, Ontario, Canada. With these transactions and previously announced government commitments, Electra has secured all the capital required to complete construction and commissioning of the cobalt sulfate refinery.
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-return-raises-348-million/" target="_blank" rel="noopener">roundup</a>.

<a href="https://sizableenergy.com/#rec689998024" target="_blank" rel="noopener">Sizable Energy</a>, a clean-tech energy-storage developer specializing in offshore pumped hydro energy storage, raised $8 million, led by Playground Global, with participation from Exa Ventures, Verve Ventures, Satgana, EDEN/IAG, and Unruly Capital, which led a previous round.
The newly raised capital will accelerate the development and deployment of this offshore technology. The company has begun preparations for its subsequent sea trial off the coast of Reggio Calabria, Italy.
The company is targeting the long-duration energy storage sector through its offshore pumped hydro storage technology. While conventional onshore pumped hydro systems are well-established, they often face challenges such as lengthy development timelines, high scalability costs, and geographical or environmental constraints.
Sizable Energy&#8217;s approach differs by utilizing an offshore system, which is claimed to be modular, cost-effective, and ready to deploy. The system stores energy by pumping saturated sea salt brine (heavier than seawater) between two reservoirs, one positioned on the seabed and another floating on the ocean surface.
The system features a connecting pipe and reversible pump-turbines that move the brine between the two reservoirs, facilitating energy storage and release. The technology leverages materials that can be manufactured, assembled, and deployed at ocean depths of 500 meters or more, utilizing existing maritime infrastructure.
This pilot project aims to validate all major floating components and demonstrate full-scale assembly and deployment procedures for a multi-MWh demonstration plant in the Mediterranean Sea. Sizable Energy plans to initiate commercial project development by 2026.
&#8220;Ocean depth is a practically unlimited resource, and Sizable Energy is leveraging it to deliver long-duration energy storage at a fraction of the cost of batteries. Their gravity-based approach is the clear path to enabling energy abundance,&#8221; said Bruce Leak, general partner at Playground Global and board member of Sizable Energy.
According to Mercom&#8217;s 1H and Q2 2025 Funding and M&amp;A for Energy Storage <a href="https://cms.mercomindia.com/product/1h-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a>, VC funding in the sector totaled $1.7 billion across 36 deals, down 29% compared to the previous year.  Energy Storage Downstream companies received the most VC funding in 1H 2025. Other top-funded categories included Materials and Components, Energy Storage Systems, Sodium-based batteries, and Thermal Energy Storage companies.

Offshore Pumped Hydro Storage Startup Sizable Energy Raises $8 Million

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