Forge Nano, a provider of nanocoating technology for lithium-ion batteries, closed on $50 million in funding led by key investments from Hanwha Corporate Venture Capital. The funding brings the company’s total amount of capital raised to date to more than $95 million. The financing will enable Forge Nano to pursue its nanotechnology opportunities for battery material and develop a battery production line to meet the demand for full-scale, premium battery contracts.
Renewable energy company Brookfield Renewable is set to acquire Duke Energy’s unregulated utility-scale commercial renewables business in the U.S. for approximately $2.8 billion. The amount includes the assumption of debt and non-controlling tax equity interests. Duke Energy expects to receive around $1.1 billion in net proceeds from the transaction, which will be utilized to bolster its balance sheet and prevent the need for additional debt issuances by the holding company.
SK On, a battery technology company and a subsidiary of SK Innovation, has secured a significant long-term financial investment of up to $944 million to support the continuous growth of its battery business in the global market. The agreement involves SK Innovation, SK On, and the MBK Consortium, which comprises financial investors from the United States, the Middle East, and other regions.
Eolian, a U.S.-based investor in renewable energy projects and a portfolio company of Global Infrastructure Partners, has announced the closing of a $515 million renewable energy green loan. The company said the financing was secured by its diverse group of eligible green projects developed over the past two decades. The financing saw participation from Banco Santander, Mitsubishi UFJ Financial Group, National Australia Bank, Natixis Corporate and Investment Banking, and Sumitomo Mitsui Banking Corporation.
Amp Energy India, an integrated renewable energy power producer, has secured up to $250 million in funding. The financing round was led by the Sumitomo Mitsui Banking Corporation of Japan, the Intermediate Capital Group, and the Asian Infrastructure Investment Bank. The funding secured by Amp Energy India will enable the company to expand its operations further, accelerate its growth strategy, and leverage the increasing demand for renewable energy solutions across India.
Gujarat-based power company Torrent Power has raised ₹6 billion (~$72.7 million) through the issuance of non-convertible debentures on a private placement basis. The company has issued and allotted 60,000 Series 11 (series 11A- 11F) Secured, Rated, Listed, Taxable, Non-Cumulative, Redeemable, and Non-Convertible Debentures of ₹100,000 each (~$1,212).
About: Energy, a London-based battery technology company, raised £1.5 million (~$1.8 million) in seed funding to accelerate the development and commercialization of its software platform, ‘The Voltt.’ The platform enables battery designers to create virtual prototypes of their products, reducing the cost and time required for testing and validation.
ACCIONA Energía, a renewable energy company, in a joint venture with ACCIONA, announced the acquisition of a majority stake in Solideo, a provider of self-consumption and energy efficiency solutions for residential customers and small and medium-sized enterprises (SMEs) in Spain. Solideo also offers batteries for electric storage, charging points for electric vehicles, and aerothermal air conditioning systems. The integration of Solideo will allow ACCIONA Energía to access its business network, which has a high potential for growth in Spain.
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.