24M, a manufacturer of proprietary semisolid battery cells, closed a $87 million Series H funding round, bringing its total amount raised to over $500 million. This funding will help speed up the commercialization and mass production of the company’s offerings. This Series H preferred stock financing was led by the company’s strategic partner and licensee, Nuovo+. Other strategic investors, including Kyocera Corporation, ASAHI Kasei, Dai Nippon Printing Company (DNP), Lucas TVS, and Mitsui O.S.K. Lines, also participated in this round.
6K, a materials producer for energy storage and additive manufacturing powders, closed $82 million in a Series E funding round. This funding represents the first close of Series E, with the second close expected in late fall 2024. With this funding, the company will scale up its battery cathode active materials (CAM) production and expand its additive manufacturing of metal powders. The round involved existing investors in the company, including Anzu Partners, Energy Impact Partners, Launch Capital, Material Impact, and Volta Energy Technologies.
Original Clean Energy, a solar energy and storage system developer (a subsidiary of Clean Royalties), has acquired Williston, Vermont-based iSun and its companies SunCommon and Liberty Electric months after declaring bankruptcy. The acquisition and leadership transition is part of the company’s restructuring strategy to ensure financial stability and growth in the solar energy sector throughout New England and New York. iSun will soon rebrand as Legacy Power.
Upgrade Energy Philippines (UGEP), a solar energy and energy efficiency project developer, announced an investment from Clime Capital, a Singapore-based venture capital group focused on green energy transition, through the South East Clean Energy Fund II (SEACEF II). UGEP expects to receive up to $10 million from this fund. The capital injection is intended to support UGEP in expediting the deployment of solar energy infrastructure.
AMS Renewable Energy, a distributed solar and storage EPC (Engineering, Procurement, and Construction) company, has announced the acquisition of Collective Solar, a distributed generation solar construction firm. With the acquisition of Collective and its construction platform, AMS will have in-house resources to scale design, engineering, logistics, procurement, and construction services for its developer and independent power producer clients. It also aims to explore growth opportunities nationwide.
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.
