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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

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					</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://ethical-power.com/" target="_blank" rel="noopener">Ethical Power Group</a>, a solar and energy storage project developer, announced that quant investor Greg Skinner acquired 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. Skinner is an investor who co-founded the U.K.-based quantitative hedge fund Quadrature Capital Limited in 2010.
Ethical Power specializes in solar PV and battery energy storage systems, providing solutions across the value chain &#8211; from design and development through construction and grid connections to maintenance and asset management.
The new investment is expected to enhance Ethical Power’s position as an independent power producer.
Commenting on his investment in Ethical Power Group, Skinner said: “I am excited about Ethical Power’s mission and the work that they are doing to decarbonize the grid. Our values and ambitions are closely aligned – I deeply care about mitigating the impact of the climate emergency and supporting sustainable growth. Given their strong leadership and impressive pace of expansion in recent years, they are well set up for further growth, and I am excited to be a part of the journey with Tom and the team.”
According to Mercom’s 9M and Q3 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, 62 solar M&amp;A transactions were executed in 9M 2024 compared to 75 in 9M 2023.
In November, Bord Gáis Energy, an Ireland-based energy supplier and services provider, <a href="https://cms.mercomindia.com/bord-gais-energy-acquires-solar-pv-installer/" target="_blank" rel="noopener">announced</a> the acquisition of Swyft Energy, a solar photovoltaic installer in Ireland. The transaction’s financial details, which are subject to approval by the Competition and Consumer Protection Commission, remained undisclosed.

Investor Greg Skinner Acquires 50% Stake in Ethical Power Group

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