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Vulcan Energy, a material exploration company specializing in lithium production, has <a href="https://cms.mercomindia.com/vulcan-energy-secures-290-million-financing-from-eib/" target="_blank" rel="noopener">secured</a> €250 million (~$290 million) in financing from the European Investment Bank (EIB). The funding will be used to develop its €2 billion (~$2.3 billion) Phase One Lionheart lithium project in Germany’s Upper Rhine Valley. The project is designed to produce 24,000 tons of lithium hydroxide monohydrate (LHM) per year, accounting for around 12% of Europe’s expected lithium hydroxide demand in 2030.
Blue Current, a company that develops silicon solid-state batteries, <a href="https://cms.mercomindia.com/solid-state-battery-startup-blue-current-closes-more-than-80-million/" target="_blank" rel="noopener">announced</a> more than $80 million in its Series D extension round. The funding round was led by Amazon, with participation from Koch Disruptive Technologies, Piedmont Capital, Rusheen Capital Partners, and Allen &amp; Company. The funding is expected to accelerate the commercialization phase of the company’s silicon composite battery platform to cater to the mobility and stationary energy storage sectors.
AMPYR Distributed Energy, an investor in renewable energy solutions and part of the AGP Group, <a href="https://cms.mercomindia.com/ampyr-distributed-energy-raises-67-million-mezzanine-financing/" target="_blank" rel="noopener">raised</a> a £50 million (~$67 million) mezzanine finance facility from Franklin Templeton, a global asset manager. The facility will support the company’s expanding pipeline of business acquisitions and project funding. The facility can be drawn upon for the development, construction, and operation of assets across both solar and battery energy storage systems.
AMPIN Energy Transition, an independent power producer, has <a href="https://www.mercomindia.com/ampin-energy-secures-50-million-from-dutch-development-bank-fmo" target="_blank" rel="noopener">secured</a> a $50 million long-term investment from FMO, a Dutch entrepreneurial development bank. The funding will be utilized to support the development of greenfield renewable energy projects. AMPIN Energy has a total portfolio of 5 GW of renewable energy projects across 23 states in India.  Its projects comprise a blend of solar, wind, and storage, catering to utility, commercial, and industrial customers.
ZincFive, a nickel-zinc battery-based solutions company, has <a href="https://cms.mercomindia.com/zincfive-secures-30-million-in-oversubscribed-series-f-funding/" target="_blank" rel="noopener">raised</a> an oversubscribed $30 million Series F funding round, bringing the company’s total investment to $254 million to date. With this funding, the company plans to expand its commercial footprint and manufacturing capacity to meet the accelerating demand for AI data center power solutions.
ABB, a Switzerland-based industrial conglomerate specializing in electrification and automation, has <a href="https://cms.mercomindia.com/abb-acquires-power-electronics-business-of-gamesa-electric/" target="_blank" rel="noopener">announced</a> the acquisition of Gamesa Electric’s power electronics business in Spain from renewable energy developer Siemens Gamesa. The acquisition was initially announced on December 18, 2024, and the financial terms were not disclosed. The business reported annual revenues of approximately €145 million (~$170 million) for the fiscal year ended September 30, 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-ma-roundup-residential-solar-company-sunpower-acquires-ambia-solar/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Vulcan Energy Secures $290 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-vulcan-energy-secures-290-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Vulcan Energy, a material exploration company specializing in lithium production, has <a href="https://mercomcapital.com/vulcan-energy-secures-290-million-financing-from-eib/" target="_blank" rel="noopener">secured</a> €250 million (~$290 million) in financing from the European Investment Bank (EIB). The funding will be used to develop its €2 billion (~$2.3 billion) Phase One Lionheart lithium project in Germany’s Upper Rhine Valley. The project is designed to produce 24,000 tons of lithium hydroxide monohydrate (LHM) per year, accounting for around 12% of Europe’s expected lithium hydroxide demand in 2030.
Blue Current, a company that develops silicon solid-state batteries, <a href="https://mercomcapital.com/solid-state-battery-startup-blue-current-closes-more-than-80-million/" target="_blank" rel="noopener">announced</a> more than $80 million in its Series D extension round. The funding round was led by Amazon, with participation from Koch Disruptive Technologies, Piedmont Capital, Rusheen Capital Partners, and Allen &amp; Company. The funding is expected to accelerate the commercialization phase of the company’s silicon composite battery platform to cater to the mobility and stationary energy storage sectors.
AMPYR Distributed Energy, an investor in renewable energy solutions and part of the AGP Group, <a href="https://mercomcapital.com/ampyr-distributed-energy-raises-67-million-mezzanine-financing/" target="_blank" rel="noopener">raised</a> a £50 million (~$67 million) mezzanine finance facility from Franklin Templeton, a global asset manager. The facility will support the company’s expanding pipeline of business acquisitions and project funding. The facility can be drawn upon for the development, construction, and operation of assets across both solar and battery energy storage systems.
AMPIN Energy Transition, an independent power producer, has <a href="https://www.mercomindia.com/ampin-energy-secures-50-million-from-dutch-development-bank-fmo" target="_blank" rel="noopener">secured</a> a $50 million long-term investment from FMO, a Dutch entrepreneurial development bank. The funding will be utilized to support the development of greenfield renewable energy projects. AMPIN Energy has a total portfolio of 5 GW of renewable energy projects across 23 states in India.  Its projects comprise a blend of solar, wind, and storage, catering to utility, commercial, and industrial customers.
ZincFive, a nickel-zinc battery-based solutions company, has <a href="https://mercomcapital.com/zincfive-secures-30-million-in-oversubscribed-series-f-funding/" target="_blank" rel="noopener">raised</a> an oversubscribed $30 million Series F funding round, bringing the company’s total investment to $254 million to date. With this funding, the company plans to expand its commercial footprint and manufacturing capacity to meet the accelerating demand for AI data center power solutions.
ABB, a Switzerland-based industrial conglomerate specializing in electrification and automation, has <a href="https://mercomcapital.com/abb-acquires-power-electronics-business-of-gamesa-electric/" target="_blank" rel="noopener">announced</a> the acquisition of Gamesa Electric’s power electronics business in Spain from renewable energy developer Siemens Gamesa. The acquisition was initially announced on December 18, 2024, and the financial terms were not disclosed. The business reported annual revenues of approximately €145 million (~$170 million) for the fiscal year ended September 30, 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’s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-sunpower-acquires-ambia-solar" target="_blank" rel="noopener">roundup</a>.

<a href="https://v-er.eu/" target="_blank" rel="noopener">Vulcan Energy</a>, a material exploration company specializing in lithium production, has secured €250 million (~$290 million) in financing from the European Investment Bank (EIB).
The funding will be used to develop its €2 billion (~$2.3 billion) Phase One Lionheart lithium project in Germany&#8217;s Upper Rhine Valley.
The EIB&#8217;s support for the project is part of its Critical Raw Materials Strategic Initiative, which focuses on projects that can provide secure, responsible supplies of key materials for Europe&#8217;s energy, digital, and defense sectors, and is backed by the EIB&#8217;s TechEU initiative.
The project is designed to produce 24,000 tons of lithium hydroxide monohydrate (LHM) per year, accounting for around 12% of Europe&#8217;s expected lithium hydroxide demand in 2030. EIB states these figures will significantly decrease the European industry&#8217;s dependence on imports and directly support the objectives of the EU&#8217;s Critical Raw Materials Act.
&#8220;The EIB&#8217;s participation underlines the significance of developing a European, sustainable lithium supply chain while supporting local innovation, employment, and a carbon-neutral future,&#8221; said Vulcan Energy&#8217;s Managing Director and CEO, Cris Moreno.
Last year, the company <a href="https://cms.mercomindia.com/vulcan-energy-resources-secures-44-million-investment/" target="_blank" rel="noopener">secured</a> €40 million (~$44 million) through strategic investments to support early-stage validation of the Engineering, Procurement, and Construction Management (EPCM) contract for Vulcan&#8217;s Phase One lithium plant.
In addition, the project has also secured additional equity backing from the German Federal Government&#8217;s raw materials fund, managed by KfW. Siemens, Hochtief, and Demeter&#8217;s Climate Infrastructure Fund have likewise contributed equity to the project.
According to Mercom&#8217;s 9M and Q3 2025 Funding and M&amp;A for Energy Storage <a href="https://cms.mercomindia.com/product/9m-and-q3-2025-funding-and-ma-report-for-storage/" target="_blank" rel="noopener">report</a>, announced debt and public market financing for Energy Storage technology companies decreased 44% YoY, with $8.4 billion in 29 deals in 9M 2025, compared to $15 billion raised in 22 deals in 9M 2024.
In October, 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.

Vulcan Energy Secures $290 Million Financing from EIB

<a href="https://v-er.eu/" target="_blank" rel="noopener">Vulcan Energy Resources</a>, a material exploration company, secured €40 million (~$44 million) through strategic investments. The breakdown of this funding includes €25 million (~$27 million) from CIMIC Group for 10 million shares, €12.5 million (~$13.6 million) from Hancock Prospecting Pty Ltd for 5 million shares, and €2.5 million (~$2.7 million) from Victor Smorgon Group for 1 million shares, all through private placements.
The funds raised will facilitate the early validation processes for the Engineering Procurement and Construction Management (EPCM) contract related to Vulcan&#8217;s Phase One lithium plant. This includes various tasks such as engineering and advanced ordering of critical components. Sedgman, a subsidiary of CIMIC, along with HOCHTIEF, will oversee the EPCM validation.
The investment was made at a price of €2.50 (~$2.72) per share, representing a 9% discount from Vulcan&#8217;s 30-day volume-weighted average price on the ASX prior to the date of the announcement.
MD and CEO Cris Moreno stated, &#8220;Today&#8217;s investments into Vulcan by CIMIC Group and Hancock Prospecting come at a particularly exciting time for Vulcan as we make significant headway towards developing Phase One of our flagship integrated renewable energy and ZERO CARBON LITHIUMTM Project. The substantial investments by both parties will enable the early commencement of important validation works ahead of the formal EPCM contract, maintaining momentum on the project timeline and optimizing the overall execution program as we move towards final funding and construction.&#8221;
According to Mercom&#8217;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, Corporate funding in Energy Storage came to $11.7 billion in 29 deals in Q1 2024, an increase of 432% year-over-year (YoY) compared to $2.2 billion in 27 deals in Q1 2023. In a quarter-over-quarter (QoQ) comparison, funding increased 216% compared to the $3.7 billion raised in 26 deals in Q4 2023.
Li-Cycle, a lithium-ion battery recycling company, recently <a href="https://cms.mercomindia.com/li-cycle-raises-50-million-common-share-offering/" target="_blank" rel="noopener">completed</a> a $50 million aggregate investment in common shares from LG Energy Solutions (LGES) and LG Chem (LGC). Following the investment, LGES and LGC collectively hold 5,300,352 Common Shares, representing approximately 3% of the issued and outstanding Common Shares in the company&#8217;s capit

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