Lyten, a lithium-sulfur battery developer, announced the acquisition of a lithium-metal battery manufacturing facility and cell-making equipment in San Leandro, California, from Cuberg, a battery manufacturer owned by Northvolt. Lyten will lease Cuberg’s 119,000-square-foot facility, which includes manufacturing, office, and warehouse space. It will also acquire battery cell development and manufacturing equipment and make additional equipment investments to expand the facility’s capacity.
Sympower, a provider of electrical grid monitoring management software solutions, has raised €21.3 million (~$23 million) in oversubscribed Series B1 funding. The funding round was led by A&G Energy Transition Tech Fund, an independent financial services group based in Spain with direct investment from the European Investment Fund. With this funding, the company plans to roll out solutions for grid stability for battery energy storage systems.
Ion Storage Systems (ION), a manufacturer of high energy density and solid-state lithium metal batteries, secured $10 million in debt funding from Leonid Capital Partners, an investment firm that provides non-dilutive, debt-based investments. The company will use this funding to expand its solid-state battery technology.
Bord Gáis Energy, an Ireland-based energy supplier and services provider, announced the acquisition of Swyft Energy, a solar photovoltaic installer in Ireland. The financial details of the transaction were not disclosed. The transaction is subject to approval by the Competition and Consumer Protection Commission. This acquisition enables Bord Gáis Energy to cater to residential, business, and farming customers as it transitions to a green energy business.
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.
