CrossBoundary Energy, a renewable energy developer, secured a $140 million senior debt commitment from the Standard Bank of South Africa on a fully underwritten basis. The funding is being undertaken as a first tranche within a broader mandate with the Standard Bank of South Africa, which has been appointed to lead and arrange up to $300 million in senior debt. With this funding, the company plans to scale up its renewable energy portfolio and serve commercial and industrial (C&I) clients across Africa.
AMPECO, a software platform for electric vehicle (EV) charging solution providers, raised $26 million in a Series B funding round led by Revaia, along with existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures. The latest round brings the company’s total funding to $42 million. The funding will be used to fuel the company’s growth plans while accelerating product enhancements and expanding into key markets like Western Europe, the Nordics, the UK, North America, and Southeast Asia.
India-based Rajesh Power Service, a renewable and non-renewable energy solutions provider, has gone public with its Initial Public Offering (IPO) on the BSE SME platform. The IPO received an overwhelming response, with the issue being subscribed 59 times when it closed on November 27, 2024, and raised ₹1.6 billion (~$18.8 million). The company’s shares were listed at a substantial 90% premium over the IPO price on December 2, 2024, opening at ₹636.50 (~$7.51) per share compared to the issue price of ₹335 (~$3.95).
FPR Energy, a venture from CSIRO, Australia’s national science agency, has secured A$15 million (~$10 million) in seed funding to commercialize next-generation solar thermal technology. The company was launched in collaboration with advisory and funds management firm RFC Ambrian and electric utility Osaka Gas. FPR Energy aims to cut emissions in heavy industries such as minerals refining, steel, cement, and chemical production using CSIRO’s particle-based Concentrated Solar Thermal (CST) technology.
Reefilla, a startup that provides mobile and predictive charging delivery service for electric vehicles, has secured €4.5 million (~$4.8 million) in funding. CDP Venture Capital led the round through the Green Transition-PNRR Fund, financed with NextGeneration EU resources. The company states that this funding will be used for R&D to transform end-of-life batteries into second-life batteries, which can be used in energy storage and mobile charging.
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.
