EVOS, an electric vehicle (EV) charging solutions provider, secured $5 million from its existing investors. The investment will enable the company to bring to market new technologies for some EV charging use cases to address challenges experienced by EV fleet operators, EV homeowners/renters, strata companies, and others. The company initially raised $1.7 million to help it expand its team and commercialize its technology.
U.S.-based solar modules manufacturer First Solar has secured a five-year revolving credit and guarantee facility worth $1 billion. The facility includes up to $250 million for issuing letters of credit. The revolving credit facility is expected to provide the company with the necessary financial leeway and flexibility while balancing its ability to grow in response to the demand for its technology.
Spain-based independent power producer Iberdrola has issued ten-year green bonds raising about €850 million (~$930.64 million). The proceeds from the bond issuance will be allocated to green-eligible assets, as defined in Iberdrola’s Green Financing Framework. The bond issuance witnessed demand exceeding €2 billion (~$ 2.1 billion).
Gurugram-based Battery Smart, a battery-swapping stations network for electric two and three-wheelers, has raised $33 million by closing a pre-series B funding round. The company said that the capital raised would be used to add 100,000 new customers to its network in the next three years and also help the company expand its operations and services globally.
Indian electric-two-wheeler manufacturing startup Vegh has secured $5 million in a strategic pre-series investment round from an undisclosed investor. The funds will be used to support Vegh’s working capital needs, including creating a robust sales and distribution network and expanding its manufacturing capabilities for EV parts.
NEU Battery Materials, a lithium-ion battery recycling startup, raised $3.7 million in an oversubscribed Seed Funding Round led by SGInnovate, a Singapore government-backed Deep Tech investor and ecosystem builder. ComfortDelGro Ventures, Shift4Good, Paragon Ventures I, and other angel investors joined the round.
Go Eve, an EV Charging solutions provider, secured £3 million (~$3.9 million) in its first funding round, valuing the business at £12.6 million (~$16.2 million). The first funding round was led by The Pearl Family Office, a multi-family office that invests in sustainable and innovative businesses along with other investors. Go Eve plans to use the funds to secure its supply chains, ramp up production, and install its DockChain system on sites across Europe and the US over the summer. The company aims to ensure volume availability in both markets before the end of the year and expand its presence in other regions.
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.