Scale Energy, a Berlin-based industrial battery storage systems developer, secured €2 million (~$2.1 million) in an oversubscribed seed funding round led by Climentum Capital, an early-stage climate tech investor, with participation from Vireo Ventures and existing shareholders Antler and P3A. The funding is expected to help Scale Energy increase its operational footprint across Germany. It aims to roll out 10 GW of decentralized storage projects over the next decade, stating that any organization with a grid connection exceeding 1,000 kW can use its services.
UbiQD, a developer and manufacturer of quantum dot technology for solar energy solutions, has announced the acquisition of all BlueDot Photonics’ assets, including its perovskite-based quantum cutting technology. The deal gives UbiQD exclusive rights to BlueDot’s associated intellectual property, originally developed at (and licensed from) the University of Washington. UbiQD’s acquisition marks a step in its expansion into the solar sector, with BlueDot’s business unit focused specifically on developing down-conversion products for the industry.
Rooftop solar financing company Credit Fair raised $5 million (₹415 million) from the $75 million (₹6.22 billion) ‘Green Basket Bond’ issued by Symbiotics Investments. Credit Fair intends to use the funds to finance 2,500 rooftop solar projects, targeting residential customers, micro, small, and medium enterprises, and housing societies in tier-2 and tier-3 cities. It also aims to utilize the funds to provide financing options to underserved communities and make renewable energy accessible.
Solar energy consultancy and engineering, procurement, and construction (EPC) solutions provider Gensol Engineering has signed a ₹3.5 billion (~$40.1 million) non-binding term sheet to sell its U.S. subsidiary, Scorpius Trackers, to an undisclosed renewable energy solution provider. Gensol aims to unlock the subsidiary’s capital for reinvestment into its core growth assets and strengthen its financial position.
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.
