Cornish Lithium, a U.K.-based mineral exploration and development company, raised £35 million (~$47 million) in equity funding from its existing institutional investors. The round, led by the National Wealth Fund with an investment of up to £31 million (~$41.7 million), also includes a £4 million (~$5.4 million) contribution from TechMet. The funds, combined with proceeds from an upcoming crowdfunding campaign, will be directed toward advancing two projects: the Trelavour Lithium Project and the Cross Lanes Geothermal Lithium Project.
sun.store, a B2B digital marketplace specializing in solar and energy storage components, raised €6 million (~$7 million) in seed funding. The investment was co-led by Contrarian Ventures, Market One Capital, and Movens Capital, with additional backing from FJ Labs, Push Ventures, and Aidiom. sun.store facilitates the buying and selling of photovoltaic components across Europe, aiming to streamline access to essential solar and storage solutions for businesses. The capital infusion will enable the company to fast-track product development.
SunPower, a solar technology, services, and installation company, closed a strategic acquisition of Sunder Energy, a residential solar sales company. SunPower CEO T.J. Rodgers stated that the acquisition of Sunder Energy is expected to boost SunPower’s revenue back to its pre-ITC levels. This revenue increase will come from Sunder’s 893-person 1099 (dealer) sales force, overseen by 20 Sunder W-2 (permanent) employees who have already transitioned to SunPower.
Battery manufacturer Xbattery has raised $2.3 million (~₹203.95 million) in seed funding from Bipin Patel Family Office, with participation from Jhaveri Credits. The fresh infusion of capital will accelerate research and development in battery management systems and battery energy storage systems development, and sourcing of specialized hardware and components. It will also be used to expand the engineering and production teams and scale prototype production to meet rapidly growing consumer demand.
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.
