Fidra Energy Acquires 1 GW Battery Storage Project in the UK

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					</table><p><a href="https://fidraenergy.com/" target="_blank" rel="noopener">Fidra Energy</a>, a battery storage project developer backed by EIG and the National Wealth Fund, has acquired the 1,025 MW Enderby battery storage project in Leicestershire, U.K., from Innova, an independent developer of renewable energy projects and data centers.</p>
<p>Innova received planning consent for the project in May 2025. The regulator is expected to decide on the project’s application under the scheme in the summer of 2026. Fidra expects to make a final investment decision in 2027, with operations beginning in 2029.</p>
<p>According to Fidra, the project has also been confirmed as eligible for the first long-duration energy storage cap-and-floor scheme application.</p>
<p>The acquisition expands Fidra Energy’s U.K. battery storage pipeline to more than 4 GW. The company is also developing the Thorpe Marsh battery storage project in Yorkshire, where construction has begun. The project has a capacity of 1.4 GW/3.1 GWh.</p>
<p>Morris Van Looy, Chief Growth &amp; Strategy Officer of Fidra Energy, said, “The acquisition of the Enderby battery storage project marks another major milestone in the expansion of our U.K. portfolio and demonstrates our ambition to deliver large-scale battery storage infrastructure at pace to support the U.K. Government’s Clean Power 2030 Action Plan.  We are delighted to be working with Innova, leveraging their experience of working successfully with local stakeholders and communities to develop, build, and operate an exciting project that will help to strengthen the resilience of the U.K.’s electricity system.”</p>
<p>A total of 7.2 GW of energy storage projects were acquired in Q1 2026, a 227% increase compared to the 2.2 GW in Q1 2025, according to Mercom’s recently released Q1 2026 Energy Storage Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a>. A growing share of acquisitions included standalone battery storage and hybrid solar-plus-storage projects.</p>
<p>In May 2026, GridStor, a developer and operator of utility-scale battery energy storage projects, <a href="https://mercomcapital.com/gridstor-acquires-199-mw-colorado-battery-storage-project-from-accelergen/" target="_blank" rel="noopener">acquired</a> the 199 MW/796 MWh Birdseye battery storage project in Adams County, Colorado, from Accelergen.</p>



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					</table><p><a href="https://nyobolt.com/" target="_blank" rel="noopener">Nyobolt</a>, a U.K.-based fast-charging Li-ion battery solutions developer, has raised $60 million in a Series C funding round, bringing the company’s valuation to $1 billion.</p>
<p>The company plans to use the proceeds to expand its development pipeline and commercialize its battery solutions for autonomous machines and AI data center infrastructure.</p>
<p>Symbotic, an artificial intelligence-enabled robotics technology company for the supply chain, led the funding round. IQ Capital, Latitude (Phoenix Court), Scania Invest, and CBMM also participated.</p>
<p>Nyobolt said the investment follows a period of commercial growth, during which its revenue increased fivefold year-over-year. The company attributed the growth to rising demand from physical artificial intelligence applications and artificial intelligence data center infrastructure.</p>
<p>Sai Shivareddy, Co-founder and Chief Executive Officer, said, “Nyobolt is enabling the always-on, always-moving infrastructure that physical AI demands. The enterprises deploying autonomous systems at scale can’t afford downtime, swap time, or power flickers. Our technology delivers a powerful trifecta: improved performance, exceptional durability, and a more sustainable operation, enabling a new generation of machines to run harder and smarter.”</p>
<p>Founded in 2019, the company combines proprietary anode materials, advanced battery cell design, and integrated power electronics, which it claims will enable faster charging, increased power density, and better lifecycle performance.</p>
<p>Nyobolt is also expanding into India. It has signed a memorandum of understanding with the state of Rajasthan to develop more than 100 MW of off-grid artificial intelligence data centers and power management infrastructure. Nyobolt said the Rajasthan partnership could be the first step in a broader presence across multiple Indian states, with a focus on renewable energy integration and grid-independent energy storage.</p>
<p>In 2022, H.C. Starck Tungsten Powders, a manufacturer of tungsten powder, <a href="https://mercomcapital.com/h-c-starck-invests-nyobolt/" target="_blank" rel="noopener">announced</a> a £45 million (~$53 million) investment in Nyobolt to fund the construction of its anode manufacturing facilities and R&amp;D centers.</p>
<p>This is the second battery manufacturing company to reach a valuation of $1 billion in May 2026. Recently, CMBlu Energy, a developer of organic solid flow battery technology, <a href="https://mercomcapital.com/flow-battery-company-cmblu-closes-59-million-series-c-funding/" target="_blank" rel="noopener">announced</a> the completion of a €50 million (~$58.5 million) initial close of its Series C funding round, bringing the company’s valuation to over €1 billion (~$1.17 billion).</p>
<p>According to Mercom’s Annual and Q4 2025 Funding and M&amp;A Report for Energy Storage <a href="https://mercomcapital.com/product/annual-q4-2025-funding-ma-report-storage/" target="_blank" rel="noopener">report</a>, VC funding in the Energy Storage sector in 2025 increased 30% YoY to $4.8 billion across 75 deals, up from $3.7 billion across 84 deals in 2024.</p>


Nyobolt Raises $60 Million to Expand Fast-Charging Battery Technology


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					</table><p><a href="https://matrixrenewables.com/" target="_blank" rel="noopener">Matrix Renewables</a>, a renewable energy developer and independent power producer focused on solar and battery energy storage systems, has secured £245 million (~$332 million) in non-recourse financing.</p>
<p>The funding package was structured as an underwritten project finance facility, provided by CIBC (London Branch), MUFG Bank, and NatWest, with NatWest also acting as facility agent.</p>
<p>A&amp;O Shearman advised Matrix Renewables on the transaction, while Watson Farley &amp; Williams acted as legal advisor to the lenders. Enertis served as technical advisor, and Aurora provided market advisory services.</p>
<p>The financing will support the construction of a 500 MW/1,000 MWh battery energy storage system located in Eccles–Leitholm in southern Scotland.</p>
<p>Construction of the project began in November 2025, with commercial operations expected in the third quarter of 2027.</p>
<p>“This £245 million ($332 Million) financing, underwritten by CIBC, MUFG, and NatWest, reflects the strong and growing demand for high-quality battery storage assets and reinforces the strength of our UK platform. We are grateful for the continued support and partnership of our banking partners in bringing this project to a successful financial close”, said Nicolás Navas, CFO at Matrix Renewables.</p>
<p>Matrix Renewables, backed by TPG Rise, develops, owns, and operates renewable energy and storage assets globally. The company’s current portfolio comprises 15.5 GW of solar, storage, and green hydrogen projects in Europe, the United States, and Latin America.</p>
<p>Large-scale project funding increased by 73% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Energy Storage Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>. Deal activity also rose sharply, with a 71% increase YoY.</p>
<p>In 2025, Matrix Renewables <a href="https://mercomcapital.com/matrix-renewables-secures-41-million-financing-for-solar-project-portfolio/" target="_blank" rel="noopener">closed</a> €40 million (~$41.36 million) in non-recourse financing with UniCredit to support the construction and development of a solar project portfolio totaling 40 MW. The portfolio comprises six projects located across various regions of Italy.</p>


Matrix Renewables Secures $332 Million Non-Recourse Project Financing


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					</table><p>U.K.-based <a href="https://enviromena.com/" target="_blank" rel="noopener">Enviromena</a>, an independent power producer, has signed an £825 million (~$1.1 billion) senior portfolio financing package to support the expansion of its solar portfolio across the U.K.</p>
<p>The transaction is underwritten by a syndicate of lenders, including BBVA, Intesa Sanpaolo (IMI CIB), Lloyds, NatWest, and Société Générale.</p>
<p>The facility includes an initial committed tranche of £525 million (~$708 million), which will provide immediate capital to fund the development and construction of a 1 GW pipeline of solar projects. The remaining £300 million (~$405 million) is structured as an uncommitted accordion feature, allowing the facility to scale alongside the portfolio as projects progress from late-stage development through construction and into operation.</p>
<p>Chris Marsh, CEO at Enviromena, said, “This is a landmark transaction for our business and demonstrates strong momentum in our growth strategy. With this support, we are accelerating the transition from development to delivery, building a gigawatt-scale solar platform to supply homes, businesses, and support the UK’s energy transition.”</p>
<p>Perella Weinberg acted as exclusive financial advisor to Enviromena. Travers Smith served as borrower counsel, while Eversheds Sutherland acted as lender counsel.</p>
<p>Earlier this year, the company <a href="https://enviromena.com/financial-close-completed-on-rock-farm-solar-project-in-shropshire/" target="_blank" rel="noopener">reached</a> financial close on its Rock Farm solar project in Shropshire, securing construction financing from Close Brothers’ Energy team and enabling construction to proceed on the fully consented 40 MW project. Once operational, Rock Farm is expected to produce enough clean electricity each year to power more than 16,000 homes across the U.K.</p>
<p>Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.</p>
<p>In 2023, Enviromena <a href="https://mercomcapital.com/enviromena-secures-342-million-debt-facility/" target="_blank" rel="noopener">secured</a> £270 million (~$342 million) in funding to expand its solar portfolio. The company has agreed to a £200 million (~$253 million) debt and construction facility with Close Brothers, a UK-based merchant banking group, which also follows a £65 million (~$82 million) equity raise.</p>


Enviromena Secures $1.1 Billion to Fund Solar Portfolio Expansion


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					</table><p>UK-based <a href="https://www.exergy3.com/" target="_blank" rel="noopener">Exergy3</a>, a thermal energy storage startup, has raised £10 million (~$13.5 million) in a seed funding round, led by Axeleo Capital through its Article 9 Green Tech Industry I fund, with participation from Bayern Kapital and Kibo Invest.</p>
<p>Existing investors Scottish Enterprise, Zero Carbon Capital, and Old College Capital, the University of Edinburgh’s in-house venture investment fund, also participated in the round.</p>
<p>The company will use the funding to accelerate commercialization, including scaling its modular thermal energy storage systems and expanding its presence across industrial markets in Europe.</p>
<p>According to Exergy3, industrial heat accounts for a significant share of global energy demand and emissions but remains difficult to decarbonize because it relies on high, continuous temperatures across a wide range of processes.</p>
<p>The company aims to address this gap by linking excess renewable generation to industrial energy demand through modular thermal energy storage units that convert renewable electricity into high-temperature heat.</p>
<p>Exergy3 states that its technology is designed to deliver process heat ranging from 50°C to 1,200°C, allowing it to adapt to a wide range of industrial processes, from direct heat applications to steam generation, making it applicable across energy-intensive industries.</p>
<p>Markus Rondé, CEO at Exergy3, said: “These are two sides of the same problem. Industry needs reliable, high-temperature heat, while large amounts of renewable electricity are going to waste. Exergy3 brings them together, turning surplus renewable power into reliable, low-cost heat for industry. That means lower emissions, lower energy costs, and a more resilient energy system. This funding allows us to move rapidly from pilot to commercial deployment.</p>
<p>According to Mercom’s Annual and Q4 2025 Funding and M&amp;A Report for Energy Storage <a href="https://mercomcapital.com/product/annual-q4-2025-funding-ma-report-storage/" target="_blank" rel="noopener">report</a>, VC funding in the Energy Storage sector in 2025 increased 30% YoY, to $4.8 billion across 75 deals, up from $3.7 billion across 84 deals in 2024.</p>
<p>In March 2026,  MGA Thermal, a provider of thermal energy-based long-duration energy storage systems, <a href="https://mercomcapital.com/thermal-energy-storage-company-mga-thermal-secures-12-million/" target="_blank" rel="noopener">secured</a> A$17 million (~$12 million) in funding. The latest round brings the total capital raised to more than A$50 million (~$35 million).</p>


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