Funding and M&A Roundup Group14 Technologies Raises $400 Million in Series C Funding

Group14 Technologies, a developer of materials that enhance the output of lithium-silicon batteries, raised $400 million in Series C funding. Porsche AG led the round with OMERS Capital Markets, Decarbonization Partners, Riverstone, Vsquared Ventures, Moore Strategic Ventures, and other institutional investors. Group14 said the new funds would enable the company to begin constructing its second plant in the U.S. According to the company, the materials it supplies help boost lithium-silicon batteries by 50% compared to traditional lithium-ion batteries. The company said that more automakers would be turning to lithium-silicon because it is compatible with existing manufacturing processes.

Anesco, UK-based energy efficiency and renewable energy firm, expanded into the German market with the launch of Anesco Germany and the acquisition of renewable energy firm Aeos Energy. Germany-based Aeos Energy has developed, constructed, and operated a solar and onshore wind project portfolio spread across 55 sites. Anesco Germany will offer a complete end-to-end solution for renewables investors, from site development, design, and construction to ongoing operation and maintenance services.

Amperon, a Texas-based technology company that builds AI-powered electricity analytics for energy market participants, raised $7 million in Series A funding, bringing the company’s total funding to date to $10 million. Through its new Climate Tech Venture Capital Fund, HSBC Asset Management led the funding. Other participants in the round included Riverstone Holdings, Muus Asset Management, Climate Capital, and Kiran Bhatraju, CEO of Arcadia.

Polarium, a commercial and industrial energy storage solutions provider, raised SEK 955 million (~$100 million) from Swedish pension company AMF at a $1 billion valuation. The company, which provides backup, hybrid, standalone storage, solar and storage EV charging, and microgrid solutions in the telecom, commercial and industrial segments, reported a CAGR of ~150 % between 2016-2021 and generated net sales of $111 million and an EBITDA of $8.43 million in 2021.

Glencore, a commodity trading and mining company, has entered into a deal with Li-Cycle, a lithium-ion battery recycling company, to supply manufacturing scrap and end-of-life lithium-ion batteries. As part of the deal, which is expected to close in Q3 2022, Glencore will invest $200 million in Toronto-based Li-Cycle. Li-Cycle’s CEO Ajay Kochhar said that the agreements would “further secure and diversify” its lithium-ion battery supply and feedstock sources and help improve its position in North America and Europe.

For reports and trackers on funding and M&A transactions in solar, energy storage, smart grid, and efficiency sectors, click here.

Read last week’s funding roundup.