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Liontown Resources, a battery minerals producer, <a href="https://cms.mercomindia.com/liontown-resources-secures-250-million-lg-energy-solution/" target="_blank" rel="noopener">secured</a> a $250 million investment and a 10-year offtake extension from foundational partner LG Energy Solution, a manufacturer of lithium-ion batteries. The companies have executed agreements for five-year $250 million convertible notes, a 10-year offtake extension, and a downstream collaboration agreement to investigate the feasibility of establishing an Inflation Reduction Act (IRA)-compliant conversion plant to process LG Energy Solution offtake material and potential additional tons from any future 4 Mtpa expansion.
Altarea, a French-based real estate company, has <a href="https://cms.mercomindia.com/altarea-acquires-rooftop-solar-developer-prejeance-industrial/" target="_blank" rel="noopener">acquired</a> Prejeance Industrial, a rooftop solar development company, from the Spanish group Repsol. This acquisition will help expand the photovoltaic installation development platform in France that the Group implemented in 2023 as part of the new activities segment of its strategic roadmap. The investment amount is approximately €140 (~$151) million. The company specializes in the development of small to medium-sized rooftop photovoltaic projects (between 100 and 500 kW), mainly on agricultural sheds.
ACME Solar, an India-based renewable energy developer, has <a href="https://www.mercomindia.com/acme-solar-files-%e2%82%b930-billion-ipo" target="_blank" rel="noopener">filed</a> its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering (IPO) worth ₹30 billion (~$360 million) at ₹2 (~$0.024) per share. The proposed IPO consists of a fresh issue of shares up to ₹20 billion (~$240 million) and an offer for sale of up to ₹10 billion (~$ 12 million). The company may also consider a pre-IPO placement of up to ₹4 billion (~$48 million), which would reduce the size of the fresh issue. ACME Solar plans to use ₹15 billion (~$180 million) from the net proceeds to repay or prepay certain outstanding borrowings of its subsidiaries.
Eneida, a provider of smart grid analytics solutions, <a href="https://cms.mercomindia.com/eneida-secures-11-4-million-in-series-b-funding/" target="_blank" rel="noopener">secured</a> €10.5 million (~$11.4 million) in a Series B funding round. The funding will allow Eneida to extend R&amp;D activity to further develop its technology for grid operators and the new energy players and continue to scale its business and its operational analytics platform. The company attracted two new prominent investors: Junction Growth Investors, who led the round, and Santander Alternative Investments. Additionally, Korys, a long-standing Eneida investor, increased its stake, alongside participation from current investor HCapital, and the company’s Founders.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-battery-materials-company-sila-raises-375-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Liontown Resources Secures $250 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-liontown-resources-secures-250-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Liontown Resources, a battery minerals producer, <a href="https://mercomcapital.com/liontown-resources-secures-250-million-lg-energy-solution/" target="_blank" rel="noopener">secured</a> a $250 million investment and a 10-year offtake extension from foundational partner LG Energy Solution, a manufacturer of lithium-ion batteries. The companies have executed agreements for five-year $250 million convertible notes, a 10-year offtake extension, and a downstream collaboration agreement to investigate the feasibility of establishing an Inflation Reduction Act (IRA)-compliant conversion plant to process LG Energy Solution offtake material and potential additional tons from any future 4 Mtpa expansion.
Altarea, a French-based real estate company, has <a href="https://mercomcapital.com/altarea-acquires-rooftop-solar-developer-prejeance-industrial/" target="_blank" rel="noopener">acquired</a> Prejeance Industrial, a rooftop solar development company, from the Spanish group Repsol. This acquisition will help expand the photovoltaic installation development platform in France that the Group implemented in 2023 as part of the new activities segment of its strategic roadmap. The investment amount is approximately €140 (~$151) million. The company specializes in the development of small to medium-sized rooftop photovoltaic projects (between 100 and 500 kW), mainly on agricultural sheds.
ACME Solar, an India-based renewable energy developer, has <a href="https://www.mercomindia.com/acme-solar-files-%e2%82%b930-billion-ipo" target="_blank" rel="noopener">filed</a> its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering (IPO) worth ₹30 billion (~$360 million) at ₹2 (~$0.024) per share. The proposed IPO consists of a fresh issue of shares up to ₹20 billion (~$240 million) and an offer for sale of up to ₹10 billion (~$ 12 million). The company may also consider a pre-IPO placement of up to ₹4 billion (~$48 million), which would reduce the size of the fresh issue. ACME Solar plans to use ₹15 billion (~$180 million) from the net proceeds to repay or prepay certain outstanding borrowings of its subsidiaries.
Eneida, a provider of smart grid analytics solutions, <a href="https://mercomcapital.com/eneida-secures-11-4-million-in-series-b-funding/" target="_blank" rel="noopener">secured</a> €10.5 million (~$11.4 million) in a Series B funding round. The funding will allow Eneida to extend R&amp;D activity to further develop its technology for grid operators and the new energy players, and continue to scale its business and its operational analytics platform. The company attracted two new prominent investors: Junction Growth Investors, who led the round, and Santander Alternative Investments. Additionally, Korys, a long-standing Eneida investor, increased its stake, alongside participation from current investor HCapital, and the company’s founders.
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>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-sila-raises-375-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://eneida.io/" target="_blank" rel="noopener">Eneida</a>, a provider of smart grid solutions, secured €10.5 million (~$11.4 million) in a Series B funding round.
The funding was provided by Junction Growth Investors (who also led the round) and Santander Alternative Investments. Existing investor Korys increased its stake, alongside participation from current investor HCapital and the company’s founders.
“The International Energy Agency (IEA) states that grid investment needs to nearly double by 2030, with emphasis on digitalizing and modernizing distribution grids, in order to meet national renewable energy targets,” said Dirk Dewals, Managing Partner at Junction Growth Investors.
Eneida will use the funds raised to extend to new markets and accelerate R&amp;D efforts to develop its technology further.
“As a committed investor in energy transition, Korys recognizes the pivotal role that smart grid technologies play in enabling a sustainable future. Eneida’s innovative solutions align perfectly with our mission to accelerate the transition toward cleaner, more efficient energy systems. Having accompanied Eneida for a few years already, we are excited to renew our support to fuel further Eneida’s growth and contribute to the realization of Zero Emission Neighbourhoods (ZEN)”, emphasizes Brieuc de Hults, Investment Director at Korys.
The company provides its operational analytics platform for grid operators and companies to detect events and anomalies and optimize and control the low-voltage grid with cost-effective infrastructure upgrades.
According to Mercom’s Q1 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Storage &amp; Smart Grid, Smart Grid VC funding increased 134% in Q1 2024, with $656 million raised in 12 deals compared to $280 million in 14 deals in Q1 2023. In a QoQ comparison, funding in Q1 2024 was 197% higher compared to Q4 2023, when $221 million was raised in 10 deals.
Gorilla, a clean energy provider of data-driven solutions, has recently <a href="https://cms.mercomindia.com/energy-data-startup-gorilla-raises-25-million-in-series-b-funding/" target="_blank" rel="noopener">closed</a> €23 million (~$25 million) in a Series B funding round led by global venture capital firm Headline, with existing investors including Beringea and the Flemish investment company PMV.

Eneida Secures $11.4 Million in Series B Funding

eneida

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