TRENDE, a provider of renewable energy solutions in Japan, announced the completion of a JPY1.07 billion (~$7.2 million) funding round through third-party allocation. The investment round was led by four new shareholders: Tokyo Century Corporation, National Federation of Agricultural Cooperative Associations, Zen-Noh Energy Corporation, and Toshiba Infrastructure Systems & Solutions Corporation.
Green transition-focused non-banking finance company Ecofy Finance has secured a $12.5 million (~₹1.07 billion) long-term loan from the Danish government’s Investment Fund for Developing Countries (IFU). Ecofy will utilize the funds to expand its loan portfolio for electric vehicles and rooftop solar systems. A portion of the financing will be directed towards aiding individuals and small and medium-sized enterprises who lack funding to become green consumers.
Capalo AI, a provider of battery energy storage-based virtual power plant solutions, has secured €3.8 million (~$4 million) in a seed funding round led by VentureFriends and PROfounders, with participation from existing investors Inventure and Innovestor. With this funding, the company plans to accelerate its European expansion and grow its client portfolio. With this funding, the company plans to accelerate its European expansion and grow its client portfolio.
Hero MotoCorp has announced an investment of ₹5.25 billion (~$61.06 million) in Euler Motors to expand into the electric three-wheeler market. The investment will be made in one or more tranches for Hero MotoCorp to acquire a 32.5% stake on a fully diluted basis. The investment will be made through a mix of primary and secondary acquisitions and is expected to be completed by April 30, 2025.
Indian Government-owned lender Indian Renewable Energy Development Agency (IREDA) has issued its first-ever perpetual bonds worth ₹12.47 billion (~$144.5 million) at an annual coupon rate of 8.4%. By issuing the bonds, IREDA targets enhancing its Tier-I capital for a stronger financial foundation. IREDA also received a fund of ₹244.8 million (~$2.6 million) from the Income Tax Department.
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.
