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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://zincfive.com/" target="_blank" rel="noopener">ZincFive</a>, a nickel-zinc battery-based solutions company, has raised an oversubscribed $30 million Series F funding round, bringing the company&#8217;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.
“The AI infrastructure buildout represents one of the largest technology investment cycles in history, and power systems are emerging as a critical bottleneck,” said Hannah-Mei Andrews, Investment Director at Climate Investment (CI).
To meet this emerging demand for AI, the company recently announced the launch of its BC 2 AI, a nickel-zinc UPS battery cabinet engineered to meet the power needs of AI data centers, offering AI load support, a claimed zero thermal runaway risk, and a 96 percent recyclable design.
ZincFive has stated that it has deployed or contracted nearly 2 GW of nickel-zinc battery backup cabinets and is scaling production to execute on its growing commercial pipeline.
Since 2016, the company has been backed by a consortium of climate and industrial investors, including Helios Climate Ventures, Climate Investment (CI), Japan Energy Fund, General Ventures, and Clear Creek Investments, among others.
In 2022, the company <a href="https://cms.mercomindia.com/battery-storage-company-zincfive-raises-54-million/" target="_blank" rel="noopener">raised</a> $54 million in Series D funding. Helios Climate Ventures led the funding round with participation from Senator Investment Group, Standard Investments, OGCI Climate Investments and the Japan Energy Fund, among others.
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>, VC funding in the sector totaled $2.8 billion across 56 deals, a 4% YoY increase from $2.7 billion across 61 deals in 9M 2024.
Last year, Enzinc, an advanced zinc battery developer, <a href="https://cms.mercomindia.com/zinc-battery-developer-enzinc-secures-8-million/" target="_blank" rel="noopener">raised</a> $8 million in a Series A funding round led by TO VC, with participation from American Century Investments (ACI), which led Enzinc’s seed round.

ZincFive Secures $30 Million in Oversubscribed Series F Funding

<a href="https://zincfive.com" target="_blank" rel="noopener">ZincFive</a>, a nickel-zinc battery-based solutions company, has raised $54 million in Series D funding, bringing the company&#8217;s total investment to $139 million to date.
The company will use the funds to expand its presence in the existing markets, including critical applications in data centers, intelligent transportation, and industrial engine starting. It also plans to increase the annual production capacity and provide the growth capital to enter new high-power energy segments and geographies.
“It is great to see our current investors returning in the Series D round as well as to welcome new investors who recognize the current commercial success and substantial future company growth,” said ZincFive Co-founder and CEO Tim Hysell. “We are grateful to the investor community for their fervent support of ZincFive’s mission and global expansion. We look forward to continuing to bring innovative nickel-zinc technology to the market.”
Helios Climate Ventures led the funding round with additional participation from existing investors Senator Investment Group and Standard Investments. New investors who participated in the round include OGCI Climate Investments and Japan Energy Fund, among others.
“ZincFive’s nickel-zinc battery energy storage solutions are powerful, reliable, safe, and highly sustainable, having significantly lower end-to-end climate impact than alternative battery chemistries. As a result, the market is responding with commercial demand spiking and the customer roster rapidly expanding.” Says Jesse Johnson, Managing Director at Helios Climate Ventures.
Earlier this year, ZincFive <a href="https://zincfive.com/news/kaizen-clean-energy-and-zincfive-develop-industry-first-microgrid-solution-for-ev-charging-hydrogen-fueling-and-mission-critical-backup-power/" target="_blank" rel="noopener">partnered</a> with Kaizen Clean Energy (KCE) to develop a microgrid solution for EV charging, hydrogen fuelling, and backup power for the grid and critical assets, including data centers, where the company’s nickel-zinc batteries along with KCE’s hydrogen generators and fuel cells from PowerCell will be used for stationary and mobile applications offering customers modular, scalable, sustainable, and economic fuelling as a service.
According to Mercom’s 9M And Q3 2022 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2022-funding-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">Report</a> for Storage, Grid &amp; Efficiency. VC funding in Energy Storage in 9M 2022 fell by over 44%, with $4 billion in 73 deals compared to $7.2 billion in 60 deals in 9M 2021.

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