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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-return-raises-348-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Energy Storage Solutions Provider Return has <a href="https://mercomcapital.com/return-raises-348-million-from-apg-to-scale-energy-storage-capacity/" target="_blank" rel="noopener">secured</a> €300 million (~$348 million) in growth equity from APG, on behalf of its pension fund client ABP, acquiring a minority stake through the transaction</strong>. The new capital will accelerate the expansion of Return’s battery energy storage platform across Europe. As part of the deal, the two companies have established a long-term strategic partnership designed to provide customers with reliable and flexible energy solutions for portfolio balancing, to manage renewable flows, and to ease grid congestion across Europe.</p>
<p><strong>enspired, an optimizer for battery energy storage systems, has </strong><a href="https://mercomcapital.com/enspired-extends-series-b-funding-to-over-47-million/" target="_blank" rel="noopener"><strong>extended</strong></a><strong> its Series B funding over €40 million (~$47 million)</strong>, with participation from new investor Future Energy Ventures. The round also includes renewed commitments from Zouk Capital, EnBW New Ventures, Banpu NEXT, PUSH VC, and 360 Capital. This funding extension follows the company’s €25.5 million (~$27.5 million) Series B round announced in May 2024.</p>
<p><strong>Allye Energy, a U.K.-based clean-tech company focused on delivering intelligent, modular, and sustainable battery energy storage solutions, </strong><a href="https://mercomcapital.com/allye-energy-raises-2-5-million-in-seed-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $2.5 million in seed funding</strong>, led by returning investors Elbow Beach and Alpha Future Funds, to accelerate the rollout of its smart battery energy storage technology. The strategic funding round includes both equity and debt financing, offering Allye Energy the flexibility to scale up manufacturing and delivery of its energy storage systems.</p>
<p><strong>The Advanced Carbons Company (TACC), a part of LNJ Bhilwara Group, has </strong><a href="https://www.mercomindia.com/tacc-secures-sbi-for-active-anode-material-plant" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a credit facility of ₹12.3 billion (~$139.93 billion) from the State Bank of India</strong> to finance its upcoming lithium-ion battery-grade graphite anode material manufacturing plant in Dewas, Madhya Pradesh. In its first phase, TACC plans to produce 20,000 metric tons (MT) of active anode materials annually, with a planned scale-up to 100,000 MT. The company is also advancing the commercial production of graphene and its derivatives, targeting over 4,000 MT annually.</p>
<p><strong>The board of directors of Refex Green Power, a wholly-owned subsidiary company of Refex Renewables and Infrastructure, has </strong><a href="https://www.mercomindia.com/refex-green-divest-stake-flaunt-solar-energy" target="_blank" rel="noopener"><strong>approved</strong></a><strong> the sale of its entire 74% equity stake in Flaunt Solar Energy</strong>, a step-down subsidiary. The stake will be sold at face value equal to cost for ₹74,000 (~$837), payable in cash, translating to ₹10 (~$0.11) per share based on a valuation that places the equity fair value in negative territory, according to a bourse filing.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-base-power-raises-1-billion" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Return Raises $348 Million


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					</table><p><a href="https://www.allye.com/" target="_blank" rel="noopener">Allye Energy</a>, a U.K.-based clean-tech company focused on delivering intelligent, modular, and sustainable battery energy storage solutions, raised $2.5 million in seed funding, led by returning investors Elbow Beach and Alpha Future Funds, to accelerate the rollout of its smart battery energy storage technology.</p>
<p>The strategic funding round includes both equity and debt financing, offering Allye Energy the flexibility to scale up manufacturing and delivery of its energy storage systems. This capital will support deployment across grid-connected and off-grid environments, particularly in areas lacking reliable or sufficient power infrastructure.</p>
<p>The company&#8217;s technology platform integrates battery systems that can operate both behind-the-meter and entirely off-grid.</p>
<p>The seed funding will help the commercialization of the Allye MAX series of battery systems, including the MegaMAX range of 1 MWh and 1.5 MWh units. It will also support the expansion of Allye&#8217;s engineering team, enabling the development of advanced power control innovations and next-generation battery storage technologies.</p>
<p>Currently active in the U.K. and Ireland, Allye plans to expand across Europe over the next 12 to 18 months through new technical and commercial partnerships.</p>
<p>&#8220;This funding represents validation of our vision to eliminate energy constraints through intelligent battery storage. Whether it&#8217;s strengthening vulnerable grids for DC fast charging electric vehicles or replacing diesel generators at remote construction sites, our technology provides immediate solutions where traditional infrastructure falls short. The strong commercial response we&#8217;re experiencing -reflected in our $2.7 million confirmed order book and $10.7 million pipeline across diverse sectors &#8211; demonstrates that the market is ready for these solutions,&#8221; said Jonathan Carrier, Founder and CEO of Allye Energy.</p>
<p>According to Mercom&#8217;s 1H and Q2 2025 Funding and M&amp;A for Energy Storage <a href="https://cms.mercomindia.com/product/1h-2025-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a>, VC funding in the sector totaled $1.7 billion across 36 deals, down 29% compared to the previous year.  Energy Storage Downstream companies received the most VC funding in 1H 2025.</p>
<p>In September, Terra One, a startup specializing in grid-connected battery energy storage systems, announced that it had <a href="https://cms.mercomindia.com/energy-storage-startup-terra-one-secures-176-million/" target="_blank" rel="noopener">secured</a> up to €150 million (~$176 million) in mezzanine financing from Aviva Investors, an asset management company.</p>
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Allye Energy Raises $2.5 Million in Seed Funding

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