U.K.-based Exergy3, a thermal energy storage startup, raised £10 million (~$13.5 million) in a seed funding round, led by Axeleo Capital through its Article 9 Green Tech Industry I fund, with participation from Bayern Kapital and Kibo Invest. Existing investors Scottish Enterprise, Zero Carbon Capital, and Old College Capital, the University of Edinburgh’s in-house venture investment fund, also participated in the funding round.
Nexamp, a developer of solar and battery storage projects, secured a $200 million credit facility from Nuveen Energy Infrastructure Credit, acting as the sole lender. The facility is structured as a delayed-draw term loan, with an initial commitment of $125 million and the option to access an additional $75 million. The proceeds will be used to accelerate the deployment of Nexamp’s solar projects and expand its customer base amid rising electricity demand.
Finland-based TheStorage, a provider of industrial thermal energy storage solutions, raised €3.6 million (~$4.2 million) in a seed funding round to scale its technology and accelerate commercial deployment. To date, TheStorage has raised a total of €5.8 million (~$6.8 million) in funding. The latest round was led by Voima Ventures, with participation from existing investors Superhero Capital and 2C Ventures, as well as new investor Momentum Partners.
GreenYellow, an independent power producer, secured over €800 million (~$938 million) to refinance its existing corporate debt and support future growth. The financing is expected to increase the company’s resources by approximately 35%, enabling it to accelerate deployment and pursue targeted acquisitions. The company provides on-site solar generation, energy efficiency upgrades, battery energy storage systems, and smart energy management solutions.
U.S.-based Headwater Energy, a utility-scale solar and energy storage development firm, completed the acquisition of Arena Renewables, a distributed generation solar and battery energy storage system developer. The financial terms of the transaction were not disclosed. The acquisition combines Arena’s project development offerings with Headwater’s financing and operational platform, bringing a development pipeline of nearly 1 GW of solar and storage projects.
EMERAM, an investment manager, acquired a stake in Switzerland-based Solar Manager AG, a provider of home energy management solutions. The financial details of the transaction were not disclosed. Founded in 2018, Solar Manager develops home energy management systems designed to optimize energy flows in households. Its platform integrates and manages photovoltaics, battery storage, heat pumps, and electric mobility systems.
Rooftop solar solutions and products company, Fujiyama Power Systems, approved the acquisition of an additional 31% equity stake in Zayo Energy and Zayo Cables. Zayo Energy manufactures solar panel components, including ethylene vinyl acetate sheets, junction boxes, and backsheets. Zayo Cables manufactures electrical and electronic wires and cables, including insulated wires made of steel, copper, and aluminum.
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.
