SECI Seeks Trading Partner to Sell Renewable Energy

PM Surya Ghar Powers 5 Million Homes, Total Capacity Hits 15 GW

Nextpower Raises Guidance for FY 2027 on Strong Q1 Performance

Avantus Closes $1 Billion Credit Facility to Expand Project Portfolio

Tandem PV Acquires nexTC to Bring Thin-Film Coating Technology In-House

Base Power Raises $1 Billion in Series D Funding Round

TotalEnergies Acquires Shell’s 4 GW European Renewables Portfolio

CERC Rescinds Revocation of Renewable Projects’ Grid Connectivity

Month in a Minute: Top Headlines from the Indian Renewable Sector in July 2026

Solar Module Capacity Under ALMM Grows to 215.5 GW

Lilac Solutions, a lithium extraction technology provider, <a href="https://cms.mercomindia.com/lilac-solutions-secures-145-million-series-c-funding/" target="_blank" rel="noopener">raised</a> $145 million in Series C funding, bringing Lilac’s total capital raised to $315 million. The financing was led by Mercuria, Lowercarbon Capital, and Breakthrough Energy Ventures. The funding will be used to support Lilac’s growth plans as the company ramps up the manufacturing capacity of its propriety ion-exchange material and commercial deployment at projects around the world.
HDFC Bank has <a href="https://www.mercomindia.com/hdfc-300-million-bond-issue" target="_blank" rel="noopener">raised</a> $300 million through its first-ever sustainable bond issue, with the proceeds to be used to finance electric vehicles and green loans. The bond, which has a three-year tenure with 95 basis points over the U.S. treasury, is part of an overall raise of $750 million through Regulation S bonds. The bank said the remaining $450 million has been raised for a tenure of five years with over 108 basis points over the U.S. Treasury.
Amperesand, a grid infrastructure solutions provider, <a href="https://cms.mercomindia.com/grid-infrastructure-company-amperesand-secures-12-million/" target="_blank" rel="noopener">announced</a> its $12.45 million Seed financing co-led by Xora Innovation, an early-stage investment platform of Temasek, and Material Impact. They are joined by TDK Ventures, the venture arm of TDK Corporation, and Foothill Ventures. The company specializes in solid-state transformers for applications in multi-megawatt DC fast charging for electric vehicles, microgrids, and data centers.
Solar engineering and consulting firm Gensol Engineering <a href="https://www.mercomindia.com/solar-epc-firm-equity-to-strengthen-its-finances" target="_blank" rel="noopener">raised</a> ₹9 billion (~$108 million) in equity capital through warrants convertible into equity shares on a preferential basis. The equity funding saw participation from international and domestic participants, including the Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund. This capital raise is subject to the shareholders’ approval at the company’s extraordinary general meeting, which will be held on March 2, 2024.
Swell Energy, an energy management and grid solutions provider, <a href="https://cms.mercomindia.com/swell-energy-acquires-renu-energy-solutions/" target="_blank" rel="noopener">announced</a> the acquisition of Renu Energy Solutions, a company that offers customized residential and commercial solar and energy storage solutions. The combination would bring together a complementary set of operational and technological capabilities as well as a bi-coastal presence to enable the deployment of virtual power plants in key energy markets. The acquisition includes Renu’s solar and storage maintenance subsidiary, Sun Service Specialists.
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-manufacturer-northvolt-secures-loan/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Lithium Extraction Firm Lilac Solutions Secures $145 Million

<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/2024/02/amazon_polly_63282.mp3?version=1707885213">
			</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-lithium-extraction-firm-lilac-solutions-secures/" target="_blank" rel="noopener">Mercom Capital Group</a>
Lilac Solutions, a lithium extraction technology provider, <a href="https://mercomcapital.com/lilac-solutions-secures-145-million-series-c-funding/" target="_blank" rel="noopener">raised</a> $145 million in Series C funding, bringing Lilac’s total capital raised to $315 million. The financing was led by Mercuria, Lowercarbon Capital, and Breakthrough Energy Ventures. The funding will be used to support Lilac’s growth plans as the company ramps up the manufacturing capacity of its propriety ion-exchange material and commercial deployment at projects around the world.
HDFC Bank has <a href="https://www.mercomindia.com/hdfc-300-million-bond-issue" target="_blank" rel="noopener">raised</a> $300 million through its first-ever sustainable bond issue, with the proceeds to be used to finance electric vehicles and green loans. The bond, which has a three-year tenure with 95 basis points over the U.S. treasury, is part of an overall raise of $750 million through Regulation S bonds. The bank said the remaining $450 million has been raised for a tenure of five years with over 108 basis points over the U.S. Treasury.
Amperesand, a grid infrastructure solutions provider, <a href="https://mercomcapital.com/grid-infrastructure-company-amperesand-secures-12-million/" target="_blank" rel="noopener">announced</a> its $12.45 million Seed financing co-led by Xora Innovation, an early-stage investment platform of Temasek, and Material Impact. They are joined by TDK Ventures, the venture arm of TDK Corporation, and Foothill Ventures. The company specializes in solid-state transformers for applications in multi-megawatt DC fast charging for electric vehicles, microgrids, and data centers. 
Solar engineering and consulting firm Gensol Engineering <a href="https://www.mercomindia.com/solar-epc-firm-equity-to-strengthen-its-finances" target="_blank" rel="noopener">raised</a> ₹9 billion (~$108 million) in equity capital through warrants convertible into equity shares on a preferential basis. The equity funding saw participation from international and domestic participants, including the Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund. This capital raise is subject to the shareholders’ approval at the company’s extraordinary general meeting, which will be held on March 2, 2024.
Swell Energy, an energy management and grid solutions provider, <a href="https://mercomcapital.com/swell-energy-acquires-renu-energy-solutions/" target="_blank" rel="noopener">announced</a> the acquisition of Renu Energy Solutions, a company that offers customized residential and commercial solar and energy storage solutions. The combination would bring together a complementary set of operational and technological capabilities as well as a bi-coastal presence to enable the deployment of virtual power plants in key energy markets. The acquisition includes Renu’s solar and storage maintenance subsidiary, Sun Service Specialists.
<span lang="EN-US" style="color: black; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">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><span lang="EN-US" style="color: black; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">.
<span lang="EN-US" style="color: black; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-volvo-group-acquires-battery-business" target="_blank" rel="noopener">roundup</a><span lang="EN-US" style="color: #2d2d42; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">.

<a href="https://lilacsolutions.com/" target="_blank" rel="noopener">Lilac Solutions</a>, a lithium extraction technology provider, raised $145 million in Series C funding, bringing Lilac’s total capital raised to $315 million. The financing was led by Mercuria, Lowercarbon Capital, and Breakthrough Energy Ventures, with participation from all major shareholders, including T. Rowe Price Association, Inc., Engine Ventures, Aventurine, Presidio Ventures (a Sumitomo Corporation Group Company), and BMW i Ventures amongst others, along with Mitsubishi Corporation and The Nature Conservancy as new investors.
The funding will be used to support Lilac’s growth plans as the company ramps up the manufacturing capacity of its propriety ion-exchange (IX) material and commercial deployment at projects around the world.
Lilac engages with lithium resource developers around the world to support project development and operations. The company has developed a lithium extraction technology based on IX, which is commonly used in metals separation and water treatment. Every IX technology is based on an ion exchange media (IXM) that is selective for certain metals.
The company is said to have constructed IXM based on ceramic materials. However, most ceramics that can recover lithium break down fast in harsh chemical conditions and need to be changed often. Lilac has claimed to improve cycle life to more than 3,000 cycles and counting using patented materials developed in-house.
“Lilac is unique in offering a DLE technology which eliminates both the evaporation ponds and high freshwater consumption that have historically plagued new lithium brine development.” said Dave Snydacker, CEO of Lilac Solutions. “Our ion exchange process can be deployed across a wide variety of brine chemistries with high recoveries and low costs. The technology has been extensively tested, scaled up, and is ready for commercial deployment at sites around the world.”
The EV industry requires massive lithium supply growth, with annual new volumes at the end of this decade approaching the equivalent of current total global lithium production.
According to Mercom’s recently released Annual and Q4 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report </a>for Storage &amp; Smart Grid, Venture capital (VC/PE) funding in Energy Storage in 2023 was the highest ever recorded, increasing 59% year-over-year (YoY), with $9.2 billion in 86 deals compared to the $5.8 billion raised in 96 deals in 2022.

Lilac Solutions Secures $145 Million Series C Funding

lilac-solutions

Get the most relevant India solar and clean energy news.

RECENT POSTS