Tyba, a company that provides an optimization platform for energy storage projects, secured $13.9 million in Series A funding, bringing its total funding raised to $18.15 million. Energize Capital led the funding round. With this funding, the company intends to expand its AI-enabled energy forecasting, trading, and optimization solution, assisting energy producers in maximizing revenue, supporting grid reliability, and expanding their portfolios.
Altus Power, an independent developer, owner, and operator of commercial-scale solar facilities, announced it has entered into a definitive agreement to be acquired by TPG, a global alternative asset management firm, through its TPG Rise Climate transition infrastructure strategy for $5 per share of its Class A common stock. The all-cash transaction values the company at approximately $2.2 billion, including its outstanding debt. Altus Power expects this partnership to help expand its operations.
ACT-ion Battery Technologies, a cathode active materials (CAM) manufacturer for lithium-ion batteries, has secured $7.5 million in a Pre-Series A funding round. This funding round was led by BASF Venture Capital with participation from Hunt Energy Enterprises, Mirae Asset Capital, Arosa Capital Management, and LG Technology Ventures. The company is expected to use this funding to accelerate its CAM production technology, with a goal of establishing an operational pilot facility by 2025, with validations from industry partners.
Epyr, a thermal energy storage (TES), has raised €3 million (~$3.1 million) in an oversubscribed pre-seed funding round. This funding round was co-led by AENU and Daphni. OVNI Capital, WEPA Ventures, and several other European angel investors joined in the round. Epyr plans to use the funding to standardize its TES technology, which includes hardware heat batteries and AI-driven heat optimization software.
Presto, a provider of EV charging solutions, raised $15 million in Seed funding. Union Square Ventures, Congruent Ventures, Powerhouse Ventures, and Jetstream provided the funding. The company intends to use the funds to onboard new fleets, integrate more chargers, and add new features.
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.
