Funding and M&A Roundup: Solar Subscriptions Firm Sunsave Raises $6.8 Million

Sunsave, a UK-based solar subscription service provider, has raised £5.4 million (~$6.79 million) in funding to support the launch of Sunsave Plus, a service that will allow homeowners to get a solar and battery system on a subscription without paying a one-off lump sum. The funding round was led by Norrsken, a European-based impact venture capital fund.

Sienna Bidco, wholly owned by funds advised by KKR, has agreed to acquire UK-based Smart Metering Systems (SMS), a smart energy infrastructure and services provider, in a deal that values the company at £1.3 billion (~$1.63 billion). The deal will see KKR take SMS private and delist it from the London Stock Exchange, where it has been trading since 2011. KKR will pay £0.955 (~$1.21) per share in cash, a 40.4% premium to SMS’s closing price on Wednesday.

UP Catalyst, a producer of sustainable carbon nanomaterials and graphite, closed a €4 million (~$4.31 million) seed investment round led by Berlin-based climate tech VC fund Extantia and supported by Estonia’s state fund SmartCap, along with existing investors Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures. The investment will be used to expand the company’s production capabilities.

Graphite India, a graphite electrode manufacturer, has entered into a definitive transaction to invest ₹500 million (~$6 million) in compulsory convertible preference shares of GODI India, a battery technology company. GODI India, backed by Blue Ashva Capital, specializes in advanced chemistry research and development to support the manufacturing of sustainable batteries for electric vehicles (EVs) and supercapacitor-based energy storage systems.

Uniqus Consultech has acquired Goodera’s global business that helps corporates manage their sustainability programs by automating the collection, maintenance, and approval of their ESG data. Uniqus, based in the U.S., India, and the Middle East, is a tech-enabled platform offering ESG accounting and reporting consulting. The acquisition, part of Uniqus’ strategy to integrate technology to address client needs, will strengthen its ESG practice and serve the $10 billion ESG market.

ACEN Renewables, a subsidiary of ACEN CORPORATION based in Singapore, signed a $100 million green term loan facility from MUFG Bank, part of global financial institution Mitsubishi UFJ Financial Group (MUFG). This investment will be directed toward the growth and development of ACEN’s renewable energy projects. MUFG acted as the sole arranger and green loan coordinator for this term loan, which operates under a five-year term.

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.