Aegeus Technologies’ Initial Public Offering Oversubscribed 24 Times

Cabinet Approves ₹237 Billion National Compressed Biogas Program

Solar Landscape Secures $150 Million for Distributed Solar Pipeline

BESCOM Invites Bids for 500 MW Distributed Solar Projects

India Can Build a Domestic Long-Duration Energy Storage Industry: Interview

Higher Energy Storage System Sales Boost Sunrun’s Q2 Revenue by 53% YoY

Ore Energy Raises $43 Million to Scale Iron-Air Battery Manufacturing

Tamil Nadu Announces PM Surya Ghar Rooftop Solar Subsidy of Up to ₹100,000

SECI Seeks PMU for 100 MW Solar/120 MWh Battery Storage Project

GE Vernova to Supply 163 MW Turbines for Enfinity’s Wind Farm

Group14 Technologies, a silicon battery materials maker, <a href="https://cms.mercomindia.com/battery-company-group14-technologies-secures-funding/" target="_blank" rel="noopener">secured</a> $34.3 million from ShawKwei &amp; Partners, an Asian private equity investor. Group14 Technologies uses silicon for the battery anode material rather than the commonly used graphite, which the company claims provides higher energy density as well as faster charging times.
Vena Energy, a renewable energy company, <a href="https://www.venaenergy.com/news/vena-energy-secures-us550m-multicurrency-unfunded-green-letter-of-credit-facility/" target="_blank" rel="noopener">secured</a> a five-year $550 million multicurrency unfunded Green Letter of Credit Facility to help enhance the company’s financial flexibility and corporate liquidity. BNP Paribas, Crédit Agricole Corporate and Investment Bank Singapore Branch, DBS Bank, ING Bank Singapore Branch, Intesa Sanpaolo Hong Kong Branch, MUFG Bank. Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore Branch participated in the Facility as Mandated Lead Arrangers, with MUFG Bank Singapore Branch acting as the Facility Agent. Credit Agricole Corporate and Investment Bank Singapore Branch and MUFG Bank Singapore Branch also acted as the Original Issuing Bank.
FLO, an EV charging solutions provider, <a href="https://cms.mercomindia.com/ev-charging-solutions-provider-flo-secures-credit-facility/" target="_blank" rel="noopener">secured</a> a C$60 million (~$44.5 million) revolving credit facility from the National Bank of Canada via its Technology and Innovation Banking Group, enabling FLO to accelerate the growth of its North American electric vehicle charging network as it continues expansion across Canada and the United States. The credit facility represents an increase from the $20 million facility secured in 2021.
Atlas Materials, a producer of battery-grade nickel, <a href="https://cms.mercomindia.com/battery-material-startup-atlas-materials-raises/" target="_blank" rel="noopener">secured</a> $27 million in a Series A funding round supported by climate technology investors, including the Grantham Environmental Trust and Voyager Ventures. The proceeds will be used to complete the design and engineering work of the company&#8217;s first commercial-scale plant- Electra- in North America, which is expected to enter production in 2027.
Oorja, a tech startup <a href="https://www.mercomindia.com/startup-oorja-secures-funding" target="_blank" rel="noopener">specializing</a> in predictive modeling for clean mobility solutions, has secured $1.5 million in funding to support product development, facilitate market expansion, and make inroads in the European and North American markets. The funding round was led by Micelio Fund and Capital-A. Java Capital, Anicut Capital, and Lead Angels also participated in the round. Oorja has been supported by the Indian Science Technology Engineering Facilities Map program.
Raptee, an electric motorcycle startup, <a href="https://www.mercomindia.com/raptee-raises-3-million-pre-series-a-round" target="_blank" rel="noopener">secured</a> $3 million in its Pre-Series A funding round led by Bluehill Capital, a deep-tech venture capital firm. Notable industry figures, including Eugene Mayne, Founder and CEO of Tristar Global; Lakshmi Narayanan, Former CEO of Cognizant; Ramesh Kannan, Managing Director at Kaynes Technology; and Chandu Nair, Director at Shankara Building Products, along with other high-net-worth individuals from India and the UAE, also participated in this all-equity funding round. The funds raised will be invested in expanding the company’s manufacturing facility, acquiring machinery and tooling for the upcoming motorcycle launch, and growing the workforce.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-morrow-batteries-raises-74-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Group14 Technologies Secures $34 Million Funding

<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/2023/10/amazon_polly_59188.mp3?version=1696395037">
			</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-and-ma-roundup-group14-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Group14 Technologies, a silicon battery materials maker, <a href="https://mercomcapital.com/battery-company-group14-technologies-secures-funding/" target="_blank" rel="noopener">secured</a> $34.3 million from ShawKwei &amp; Partners, an Asian private equity investor. Group14 Technologies uses silicon for the battery anode material rather than the commonly used graphite, which the company claims provides higher energy density as well as faster charging times.
Vena Energy, a renewable energy company, <a href="https://www.venaenergy.com/news/vena-energy-secures-us550m-multicurrency-unfunded-green-letter-of-credit-facility/" target="_blank" rel="noopener">secured</a> a five-year $550 million multicurrency unfunded Green Letter of Credit Facility to help enhance the company’s financial flexibility and corporate liquidity. BNP Paribas, Crédit Agricole Corporate and Investment Bank Singapore Branch, DBS Bank, ING Bank Singapore Branch, Intesa Sanpaolo Hong Kong Branch, MUFG Bank. Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore Branch participated in the Facility as Mandated Lead Arrangers, with MUFG Bank Singapore Branch acting as the Facility Agent. Credit Agricole Corporate and Investment Bank Singapore Branch and MUFG Bank Singapore Branch also acted as the Original Issuing Bank.
FLO, an EV charging solutions provider, <a href="https://mercomcapital.com/ev-charging-solutions-provider-flo-secures-credit-facility/" target="_blank" rel="noopener">secured</a> a C$60 million (~$44.5 million) revolving credit facility from the National Bank of Canada via its Technology and Innovation Banking Group, enabling FLO to accelerate the growth of its North American electric vehicle charging network as it continues expansion across Canada and the United States. The credit facility represents an increase from the $20 million facility secured in 2021.
Atlas Materials, a producer of battery-grade nickel, <a href="https://mercomcapital.com/battery-material-startup-atlas-materials-raises/" target="_blank" rel="noopener">secured</a> $27 million in a Series A funding round supported by climate technology investors, including the Grantham Environmental Trust and Voyager Ventures. The proceeds will be used to complete the design and engineering work of the company’s first commercial-scale plant- Electra- in North America, which is expected to enter production in 2027.
Oorja, a tech startup <a href="https://www.mercomindia.com/startup-oorja-secures-funding" target="_blank" rel="noopener">specializing</a> in predictive modeling for clean mobility solutions, has secured $1.5 million in funding to support product development, facilitate market expansion, and make inroads in the European and North American markets. The funding round was led by Micelio Fund and Capital-A. Java Capital, Anicut Capital, and Lead Angels also participated in the round. Oorja has been supported by the Indian Science Technology Engineering Facilities Map program.
Raptee, an electric motorcycle startup, <a href="https://www.mercomindia.com/raptee-raises-3-million-pre-series-a-round" target="_blank" rel="noopener">secured</a> $3 million in its Pre-Series A funding round led by Bluehill Capital, a deep-tech venture capital firm. Notable industry figures, including Eugene Mayne, Founder and CEO of Tristar Global; Lakshmi Narayanan, Former CEO of Cognizant; Ramesh Kannan, Managing Director at Kaynes Technology; and Chandu Nair, Director at Shankara Building Products, along with other high-net-worth individuals from India and the UAE, also participated in this all-equity funding round. The funds raised will be invested in expanding the company’s manufacturing facility, acquiring machinery and tooling for the upcoming motorcycle launch, and growing the workforce.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/" target="_blank" rel="noopener">here</a>.
Read last week’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-morrow-batteries-raises-74-million/" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.flo.com/" target="_blank" rel="noopener">FLO</a>, a EV charging solutions provider, secured a C$60 million (~$44.5 million) revolving credit facility from the National Bank of Canada via its Technology and Innovation Banking Group, enabling FLO to accelerate the growth of its North American EV charging network as it continues expansion across Canada and the United States. The credit facility represents an increase from a $20 million facility secured in 2021.
&#8220;This arrangement is another endorsement of FLO&#8217;s successful business strategy and recognition of our growth as we continue to witness incredible momentum in our industry,&#8221; said Louis Tremblay, FLO President and CEO. &#8220;Our renewed and long-standing business relationship with the National Bank of Canada positions FLO to continue its ambitious strategy, support sustainable development and cement its role in ushering in a zero-emissions transportation future&#8221;.
The company recently <a href="https://www.flo.com/news/flo-develops-technology-for-the-future-of-ev-charging-including-wireless-charging-and-plug-charge/" target="_blank" rel="noopener">announced</a> that they are working with WiTricity and Hubject, to test and advance both wireless charging and Plug &amp; Charge technology. FLO is testing options for FLO stations to charge vehicles without cables using the WiTricity Halo EV charging system.
&#8220;For over twenty-five years, our Group has partnered with some of the greatest Canadian success stories, and we believe FLO will be among them, said Tuyen Vo, Head of Technology and Innovation Banking. At National Bank, we are dedicated in supporting a smooth and inclusive energy transition to a low-carbon economy.  We believe in FLO&#8217;s business plan and its products. This additional credit facility is a testament to the FLO team and all the work they have done to expand reliable EV charging infrastructure in North America.&#8221;
According to Mercom&#8217;s 1H And Q2 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid, announced debt and public market financing for Smart Grid companies came to $839 million in seven deals in 1H 2023 compared to $307 million in four deals in 1H 2022.

EV Charging Solutions Provider FLO Secures $44.5 Million Credit Facility

flo

Get the most relevant India solar and clean energy news.

RECENT POSTS