Renewable energy project developer Green Genius has completed a €65 million (~$72.5 million) green bond issue to refinance existing subordinated construction loans. The bonds have a four-year maturity and carry a floating interest rate based on the three-month Euro Interbank Offered Rate (EURIBOR) plus 8% annually. They are expected to be admitted to trading on the Sustainable Bond List of Nasdaq Stockholm.
FluoRok, a U.K.-based company developing materials for applications including lithium-ion battery electrolytes, has raised $30 million in an oversubscribed Series A funding round to scale its manufacturing platform and expand fluorochemical production. Orano Venture Fund and Supernova Invest led the funding round, with participation from Bidra Innovation Ventures.
RadianX, a perovskite solar module manufacturer formerly known as California Perovskite Technology, has raised $9 million in combined venture and project financing to scale production of its certified perovskite solar modules. SOSV and Twynam co-led the seed funding round, with participation from One Small Planet, Sahsen Ventures, Avila VC, California Innovation Fund, quantumEDGE, Riceberg Ventures, and Alumni Ventures.
ARRAY Technologies, a provider of solar tracking technology, fixed-tilt products, and foundation solutions, and Shoals Technologies Group, a provider of electrical balance-of-system solutions for utility-scale solar and battery storage, have entered into a definitive agreement for a stock-for-stock merger. Under the merger agreement, ARRAY will be the legal acquirer and corporate parent of the combined company, and Shoals shareholders will receive 1.6931 ARRAY shares for each Shoals share they own.
SOLV Energy, a company that provides construction, operation, and maintenance services for large-scale solar and battery storage projects, has acquired Texas-based ASB Energy Services, a contractor specializing in substation foundations, civil construction, and battery energy storage infrastructure, for approximately $45 million. The transaction comprises $36 million in cash and $9 million in shares of SOLV Energy’s Class A common stock, excluding customary closing adjustments.
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.
