JET Charge, an EV charging solutions provider, has secured A$72 million (~$45 million) in funding. The funding was led by Mirova, an affiliate of Natixis Investment Managers, through its Mirova Energy Transition Fund 6 (MET6), along with existing shareholders, including Clean Energy Finance Corporation (managed by Virescent Ventures), RACV, and Kilara Capital.
Solar module manufacturer SWELECT Energy Systems has proposed raising ₹1.38 billion (~$16.22 million) by issuing 1,385 non-convertible debentures (NCDs) with a face value of ₹1 million (~$11,757) each through private placement. These secured, unlisted, rated, redeemable, non-cumulative, taxable NCDs will have a tenure of 12.5 years and a 9.5% average interest rate. The funds will strengthen the company’s finances.
Jolt Energy Storage, a company specializing in organic energy storage materials, has raised $4 million in Series A funding. The investors who participated in the round were not disclosed. The funding will help the company speed up its prototype development, including field testing, design, and manufacturing processes, leading to the commercial scalability of its organic flow battery design. The company plans to complete its 3 kW, four-hour prototype by December 2025.
SustVest, a sustainable investment platform, raised $1.7 million in a pre-series A round led by Inflection Point Ventures and Antler. This round also saw participation from WEH ventures, Venture Catalysts, Soonicorn Ventures, and FAAD Network. SustVest aims to use these funds to acquire solar projects, cover marketing expenses with the launch of the company’s regulated platform, manage operations, and cover legal costs.
Aqua Metals, a lithium battery material recycling company, announced the closing of a $1.5 million bridge loan to fund its lithium battery recycling operations. Over 50% of the bridge loan was funded by management and members of the Board of Directors. The financing provides additional capital to advance Aqua Metals’ efforts to secure a definitive agreement on its long-term financing. The funding will be used to support the buildout of the Sierra ARC commercial facility and the future growth of the company.
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.
