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Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar <a href="https://cms.mercomindia.com/recurrent-energy-secures-1-4-billion-credit-facility-to-expand-solar-and-storage-projects/" target="_blank" rel="noopener">secured</a> a multi-currency revolving credit facility valued at up to €1.3 billion (~$1.4 billion) with ten banks. Recurrent Energy and the participating financial institutions signed the agreement in Seville, Spain. The company will use the funding to develop solar and energy storage projects in European countries including Spain, Italy, the United Kingdom, the Netherlands, France, and Germany.
Verkor, a manufacturer of lithium-based battery cells and modules, <a href="https://cms.mercomindia.com/battery-manufacturer-verkor-secures-1-4-billion-green-loan/" target="_blank" rel="noopener">secured</a> over €1.3 billion (~$1.41 billion) in green financing supported by 16 commercial banks and three public banks. These funds will be directly allocated to the construction and financing of Verkor’s first gigafactory located in Dunkirk, France, with an initial production capacity of 16 GWh/year. Following this recent deal, Verkor has so far secured over €3 billion (~$3.2 billion) in funding for its first gigafactory and the Verkor Innovation Centre.
Verse, a clean energy management platform, <a href="https://cms.mercomindia.com/clean-energy-management-platform-verse-secures-20-5-million-series-a-funding/" target="_blank" rel="noopener">raised</a> $20.5 million in a Series A funding round led by GV (Google Ventures) with participation from Coatue, CIV, and MCJ Collective. With the latest round of funding, Verse is expected to scale commercial operations and develop new product capabilities to help organizations reduce emissions and lower electricity costs. The company’s technology leverages generative AI to help companies define clean energy goals and plan, procure, and manage optimal portfolios of clean energy assets at the least cost.
Engineering, procurement, and construction firm Soleos Solar Energy has <a href="https://www.mercomindia.com/soleos-solar-energy-secures-6-5-million" target="_blank" rel="noopener">raised</a> ₹485 million (~$6.5 million) in equity funding to drive expansion in India and abroad. The investment round was led by Swastika Investmart, along with Beeline Capital Advisors serving as co-advisors. Soleos said the funding round included India Ahead Venture Fund and several high-net-worth individuals. The company said that the fresh capital will bolster Soleos’ working capital and support its global expansion plans.
Bengaluru-based technology startup NoPo Nanotechnologies <a href="https://www.mercomindia.com/carbon-nanotube-maker-production-and-market-reach" target="_blank" rel="noopener">raised</a> $3 million in a pre-Series A funding round by Axilor’s Micelio Fund and Inflexor Ventures. The funds will be used to scale production, improve engineering capabilities, and implement a global market strategy. NoPo said it has developed innovative technology to produce high-quality single-walled carbon nanotubes, which have been in development for the past decade.
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-origis-energy-funding-from-kkr/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Recurrent Energy Secures $1.4 Billion Credit Facility

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-recurrent-energy-secures-1-4-billion/" target="_blank" rel="noopener">Mercom Capital Group</a>
Recurrent Energy, a solar project developer and a wholly owned subsidiary of Canadian Solar <a href="https://mercomcapital.com/recurrent-energy-secures-1-4-billion-credit-facility-to-expand-solar-and-storage-projects/" target="_blank" rel="noopener">secured</a> a multi-currency revolving credit facility valued at up to €1.3 billion (~$1.4 billion) with ten banks. Recurrent Energy and the participating financial institutions signed the agreement in Seville, Spain. The company will use the funding to develop solar and energy storage projects in European countries including Spain, Italy, the United Kingdom, the Netherlands, France, and Germany.
Verkor, a manufacturer of lithium-based battery cells and modules, <a href="https://mercomcapital.com/battery-manufacturer-verkor-secures-1-4-billion-green-loan/" target="_blank" rel="noopener">secured</a> over €1.3 billion (~$1.41 billion) in green financing supported by 16 commercial banks and three public banks. These funds will be directly allocated to the construction and financing of Verkor’s first gigafactory located in Dunkirk, France, with an initial production capacity of 16 GWh/year. Following this recent deal, Verkor has so far secured over €3 billion (~$3.2 billion) in funding for its first gigafactory and the Verkor Innovation Centre.
Verse, a clean energy management platform, <a href="https://mercomcapital.com/clean-energy-management-platform-verse-secures-20-5-million-series-a-funding/" target="_blank" rel="noopener">raised</a> $20.5 million in a Series A funding round led by GV (Google Ventures) with participation from Coatue, CIV, and MCJ Collective. With the latest round of funding, Verse is expected to scale commercial operations and develop new product capabilities to help organizations reduce emissions and lower electricity costs. The company’s technology leverages generative AI to help companies define clean energy goals and plan, procure, and manage optimal portfolios of clean energy assets at the least cost.
Engineering, procurement, and construction firm Soleos Solar Energy has <a href="https://www.mercomindia.com/soleos-solar-energy-secures-6-5-million" target="_blank" rel="noopener">raised</a> ₹485 million (~$6.5 million) in equity funding to drive expansion in India and abroad. The investment round was led by Swastika Investmart, along with Beeline Capital Advisors serving as co-advisors. Soleos said the funding round included India Ahead Venture Fund and several high-net-worth individuals. The company said that the fresh capital will bolster Soleos’ working capital and support its global expansion plans.
Bengaluru-based technology startup NoPo Nanotechnologies <a href="https://www.mercomindia.com/carbon-nanotube-maker-production-and-market-reach" target="_blank" rel="noopener">raised</a> $3 million in a pre-Series A funding round by Axilor’s Micelio Fund and Inflexor Ventures. The funds will be used to scale production, improve engineering capabilities, and implement a global market strategy. NoPo said it has developed innovative technology to produce high-quality single-walled carbon nanotubes, which have been in development for the past decade.
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-origis-energy-funding-kkr" target="_blank" rel="noopener">roundup</a>.

<a href="https://verse.inc/" target="_blank" rel="noopener">Verse</a>, a clean energy management platform, raised $20.5 million in a Series A funding round led by GV (Google Ventures) with participation from Coatue, CIV, and MCJ Collective.
According to Verse, the combination of escalating costs, increased demand, stringent regulations, and expensive procedures is creating a sense of urgency and introducing new challenges that existing solutions and corporate buyers of clean energy are struggling to address.
The company plans to tackle these issues with the AI-enabled software platform, Aria, which is stated to leverage generative AI to help companies define clean energy goals and plan, procure, and manage optimal portfolios of clean energy assets at the least cost.
With the latest round of funding, Verse is expected to scale commercial operations and develop new product capabilities to help organizations reduce emissions and lower electricity costs.
&#8220;Commercial and industrial electricity use is a significant contributor to global emissions. We need to make clean energy the most economical option for large electricity consumers, but existing solutions don&#8217;t scale,&#8221; said Seyed Madaeni, CEO of Verse. &#8220;Our latest fundraising round, backed by an impressive roster of investors, will fuel Verse&#8217;s growth and enhance our software product suite, enabling more businesses to reduce both the cost and emissions of their electricity.&#8221;
According to Mercom’s Q1 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Storage &amp; Smart Grid, Smart Grid VC funding increased 134% in Q1 2024, with $656 million raised in 12 deals compared to $280 million in 14 deals in Q1 2023. In a QoQ comparison, funding in Q1 2024 was 197% higher compared to Q4 2023, when $221 million was raised in 10 deals.
Last year, Amperon Holdings, a provider of energy analytics solutions, <a href="https://cms.mercomindia.com/energy-analytics-platform-amperon-holdings-raises/" target="_blank" rel="noopener">secured</a> $20 Million in a Series B funding round led by Energize Capital. Other participants in this round include the D. E. Shaw group, Veriten, and existing investor HSBC Asset Management.

Clean Energy Management Platform Verse Secures $20.5 Million Series A Funding

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