dcbel, a smart home energy company, raised over $50 million in a Series B funding round, with participation from existing investors Volvo Cars, Coatue, Kevin Mahaffey, Real Ventures, and new investors Idealist Capital and Investissement Québec. The funding is expected to enable the company to accelerate the delivery of its home energy solutions. Pierre Larochelle, Co-Managing Partner of Idealist Capital, will be appointed to the dcbel Board of Directors.
PosiGen, a residential solar and energy efficiency solutions provider, secured a $12 million loan. ImpactAssets partnered with Connecticut Green Bank and Inclusive Prosperity Capital to provide the loan, which is expected to help unlock tax credits for the company under the new federal Investment Tax Credit adders.
Rondo Energy, a thermal energy storage company, raised $60 million in a new funding round from Breakthrough Energy Ventures, Energy Impact Partners, SCG, TITAN, Microsoft’s Climate Innovation Fund, Rio Tinto, SABIC, Aramco Ventures, and climate investors SDCL Energy Efficiency Income Trust (SEEIT) and John Doerr.
Clearway Energy Group, a developer and operator of clean energy projects in the U.S., has secured corporate credit facilities totaling $821.5 million. The corporate sustainability-linked credit facilities consist of a $300 million revolving credit facility, a $171.5 million green term loan, and a $350 million letter of credit facility. The financing is expected to help Clearway execute renewable energy projects of over 30 GW of capacity across 28 states.
Mitra Future Technologies, a lithium-ion battery materials manufacturer, completed a $40 million first close of a $60 million Series B funding round which is expected to help the company develop and commercialize iron-based cathode materials. The Series B funding round was led by General Motors, along with Social Capital, Fontinalis Partners, Earthshot Ventures, The Keffi Group, Boutique Venture Partners, and new investors such as GS Futures, Bricks Capital Management, Zeon Ventures, Scribble VC, WovenEarth Ventures, Bonds Investment Group, and others.
Click here for reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors.
Read last week’s funding roundup.