US Lawmakers Urge Crackdown on Foreign-Made Blue Wafers Imports

China to Impose 2% Consumption Tax on Batteries and Solar Cells

Delhi Regulator Simplifies Net Metering Rules for Rooftop Solar Projects

Coal India Announces Winner of 750 MWh Energy Storage Consultancy Auction

Rajasthan Tenders 172 MW/688 MWh Battery Energy Storage Projects

SECI Seeks Bulk Power Buyers for Long-Term Renewable Energy Procurement

Ather Energy Approves ₹12 Billion Preferential Fundraise

Malaysia Launches 2.65 GW Solar Tender with 1.25 GW Battery Storage

Primo Chemicals to Procure Solar Power from TPCS’ 50 MW Project

Borosil’s Revenue Up 17% YoY in Q1, Advances 600 TPD Solar Glass Expansion

Ethical Power Group, a solar and energy storage project developer, announced that quant investor Greg Skinner <a href="https://cms.mercomindia.com/investor-greg-skinner-acquires-50-stake-in-ethical-power-group/" target="_blank" rel="noopener">acquired</a> a 50% stake in the company from Hive Energy. The founder and CEO, Thomas Kneen, maintains 50% of the business. The company announced providing an additional £15 million (~19 million) working capital loan to help with the continued expansion of the company’s operations. Greg Skinner will join the Ethical Power Group board upon the deal’s completion.
Electric motorcycle startup Oben Electric has <a href="https://www.mercomindia.com/oben-electric-secures-%E2%82%B9500-million-in-series-a-funding-round" target="_blank" rel="noopener">secured</a> ₹500 million (~$5.82 million) in a Series A funding round. This round included participation from Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical’s U.S.-based venture capital entity, Sanjeev Saraf (Polyplex) family office, Pravek Kalp family office, and other existing investors. The company plans to use the funding to expand its existing distribution network, and its Oben Care services to over 100 showrooms.
Flint, a company developing paper batteries, has <a href="https://cms.mercomindia.com/paper-battery-developer-flint-raises-2-million/" target="_blank" rel="noopener">raised</a> $2 million in seed funding. The round was led by a consortium of angel investors along with participation from AI-driven VC firm Hatcher+. Flint develops cellulose-based paper batteries, which use materials such as cellulose paper, zinc, and manganese. The funding is expected to support commercial expansion, pilot production, and intellectual property development.
Energy-tech startup EMO Energy has <a href="https://www.mercomindia.com/emo-energy-secures-series-a-funding-round" target="_blank" rel="noopener">raised</a> $6.2 million (₹530.65 million) in its Series A funding round. This round was led by Subhkam Ventures, with existing investor Transition VC also participating. The company plans to use the funding to scale its advanced battery solutions for electric vehicles (EVs) and energy storage systems, targeting an expansion of its urban energy ecosystem. The company aims to deploy its services across 100,000 two and three-wheeler vehicles over the next two years and roll out 1 GWh of energy storage systems.
Mining Startup KoBold Metals <a href="https://www.koboldmetals.com/news/mining-startup-kobold-metals-valued-at-2-96-bn-after-closing-537m-series-c/?aid=01" target="_blank" rel="noopener">raised</a> a $537 million Series C funding round to expand AI-powered critical mineral exploration. The round, which increased KoBold’s post money valuation to $2.96 billion, was co-led by new investor Durable Capital Partners LP and by a pair of T. Rowe Price funds not yet invested.  The funding included participation from existing KoBold investors Andreessen Horowitz Growth, BOND, Breakthrough Energy, Earthshot Ventures, Equinor, July Fund, Mitsubishi Corporation and Standard Investments as well as new investors StepStone Group and WCM Investment Management.
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-sunairio-raises-6-4-million-in-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Greg Skinner Acquires 50% Stake in Ethical Power Group

<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/01/amazon_polly_75115.mp3?version=1736310926">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-greg-skinner-acquires-50-stake-in-ethical-power-group/" target="_blank" rel="noopener">Mercom Capital Group</a>
Ethical Power Group, a solar and energy storage project developer, announced that quant investor Greg Skinner <a href="https://mercomcapital.com/investor-greg-skinner-acquires-50-stake-in-ethical-power-group/" target="_blank" rel="noopener">acquired</a> a 50% stake in the company from Hive Energy. The founder and CEO, Thomas Kneen, maintains 50% of the business. The company announced providing an additional £15 million (~19 million) working capital loan to help with the continued expansion of the company’s operations. Greg Skinner will join the Ethical Power Group board upon the deal’s completion.
Electric motorcycle startup Oben Electric has <a href="https://www.mercomindia.com/oben-electric-secures-%E2%82%B9500-million-in-series-a-funding-round" target="_blank" rel="noopener">secured</a> ₹500 million (~$5.82 million) in a Series A funding round. This round included participation from Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical’s U.S.-based venture capital entity, Sanjeev Saraf (Polyplex) family office, Pravek Kalp family office, and other existing investors. The company plans to use the funding to expand its existing distribution network, and its Oben Care services to over 100 showrooms.
Flint, a company developing paper batteries, has <a href="https://mercomcapital.com/paper-battery-developer-flint-raises-2-million/" target="_blank" rel="noopener">raised</a> $2 million in seed funding. The round was led by a consortium of angel investors along with participation from AI-driven VC firm Hatcher+. Flint develops cellulose-based paper batteries, which use materials such as cellulose paper, zinc, and manganese. The funding is expected to support commercial expansion, pilot production, and intellectual property development.
Energy-tech startup EMO Energy has <a href="https://www.mercomindia.com/emo-energy-secures-series-a-funding-round" target="_blank" rel="noopener">raised</a> $6.2 million (₹530.65 million) in its Series A funding round. This round was led by Subhkam Ventures, with existing investor Transition VC also participating. The company plans to use the funding to scale its advanced battery solutions for electric vehicles (EVs) and energy storage systems, targeting an expansion of its urban energy ecosystem. The company aims to deploy its services across 100,000 two and three-wheeler vehicles over the next two years and roll out 1 GWh of energy storage systems.
Mining Startup KoBold Metals <a href="https://www.koboldmetals.com/news/mining-startup-kobold-metals-valued-at-2-96-bn-after-closing-537m-series-c/?aid=01" target="_blank" rel="noopener">raised</a> a $537 million Series C funding round to expand AI-powered critical mineral exploration. The round, which increased KoBold’s post-money valuation to $2.96 billion, was co-led by new investor Durable Capital Partners LP and by a pair of T. Rowe Price funds not yet invested.  The funding included participation from existing KoBold investors Andreessen Horowitz Growth, BOND, Breakthrough Energy, Earthshot Ventures, Equinor, July Fund, Mitsubishi Corporation, and Standard Investments as well as new investors StepStone Group and WCM Investment Management.
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-sunairio-raises-6-4-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.madebyflint.co/index.html" target="_blank" rel="noopener">Flint</a>, a company developing paper batteries, has raised $2 million in seed funding. The round was led by a consortium of angel investors along with participation from AI-driven VC firm Hatcher+.
Flint develops cellulose-based paper batteries, which use materials such as cellulose paper, zinc, and manganese. The technology is expected to be fully compostable at the end of its lifecycle, making recycling easier.
“This funding milestone represents years of technical breakthroughs, and now, with real-world applications on the horizon, we are laser-focused on delivering our solutions to market. Our batteries are engineered to excel where traditional technologies fall short, and we believe they will transform industries that demand superior safety, sustainability, and flexibility,” said Mr. Carlo Charles, Founder and CEO of Flint.
The company aims to provide another option to legacy battery technologies like lithium-ion and lead-acid technology. The funding is expected to support commercial expansion, pilot production, and intellectual property development
“A lower production cost is at the core of creating demand, scaling quickly, and increasing adoption rates while ensuring profitability,” said Mr. Jeremy Wee, Co-Founder of Flint.
The company has attracted interest from over 20 companies across sectors, including Energy Storage Systems, Critical Power Supply, Electric Vehicles (EVs), Defense and Security, and others.
According to Mercom’s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">Report</a> for Energy Storage and Smart Grid, VC funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease year-over-year compared to $8.6 billion in 68 deals in 9M 2023.
In December 2024, Enzinc, an advanced zinc battery developer, <a href="https://cms.mercomindia.com/zinc-battery-developer-enzinc-secures-8-million/" target="_blank" rel="noopener">raised</a> $8 million in a Series A funding round led by TO VC, with participation from American Century Investments (ACI), which led Enzinc’s seed round.

Paper Battery Developer Flint Raises $2 Million

flint

Get the most relevant India solar and clean energy news.

RECENT POSTS