Redoxblox, a thermochemical energy storage company, raised an additional $30 million in Series A funding. The funding round was led by Prelude Ventures and joined by Imperative Ventures, New System Ventures, and existing investors Breakthrough Energy Ventures and Khosla Ventures. The company was also awarded $8.9 million from the California Energy Commission and $6.7 million from the U.S. Department of Energy this year.
eSmart Systems, an inspection and asset information management solutions provider for utilities, raised €30 million (~$32 million) in new capital funding, bringing its total to €63 million (~$65 million) in the past two years. The funding round was led by TiLT Capital Partners, a French growth capital impact fund, along with Quanta Services, a U.S.-based energy infrastructure solutions company, which joined as a strategic investor.
Jupiter Power, a utility-scale energy storage project developer, secured a $225 million corporate credit facility that includes up to $175 million in letters of credit and $50 million in revolving loans. This transaction was led by Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation on the lender side, serving as coordinating lead arrangers. Kirkland & Ellis acted as the borrower’s counsel, and Latham & Watkins as the lenders’ counsel.
Birch Creek Energy, a utility-scale solar and energy storage project developer, has secured a $150 million credit facility provided by KKR’s high-grade asset-based finance strategy via insurance accounts managed by KKR. This funding will extend and upsize its previous $100 million facility, and the company’s development expenses and equipment will be used for solar farms in its development portfolio.
S4 Energy, a Dutch-based grid-scale energy storage developer, announced the acquisition of LC Energy Grid Service, a high-voltage battery storage platform and subsidiary of LC Energy. S4 Energy is majority-owned by Castleton Commodities International. With this acquisition, S4 Energy will be able to continue developing its existing portfolio of projects, which includes four 10 MW medium-voltage, 4-hour duration systems in the Netherlands, all of which are scheduled to become operational in 2025.
For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.
Read last week’s funding roundup.
