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Scout Clean Energy, a Colorado-based renewable energy developer, owner, and operator, <a href="https://cms.mercomindia.com/scout-clean-energy-secures-loan/" target="_blank" rel="noopener">announced</a> the closing of a $100 million equipment supply loan with Rabobank. The facility will be used to fund Scout equipment down payments. The company intends to upsize the facility to $200 million and bring in additional banks later in the year to secure equipment supply for Scout’s near-term advanced-stage pipeline of wind, solar, and storage projects.
EnviroSpark, a provider of electric vehicle (EV) charging solutions, <a href="https://cms.mercomindia.com/ev-charging-firm-envirospark-secures-funding/" target="_blank" rel="noopener">secured</a> a $50 million investment from funds that will help the company expand its EV charging landscape, which is owned and operated across the U.S. The funding round was advised by Basalt Infrastructure Partners, a U.S.-based equity investment firm focusing on investments in Europe and North America.
Independent power producer AMPIN Energy Transition has <a href="https://www.mercomindia.com/ampin-energy-secures-to-fund-expansion-plans" target="_blank" rel="noopener">secured</a> funding of up to $35 million from responsAbility, an investor focusing on private markets, to help AMPIN expand its clean energy projects across India. The investment is part of responsAbility’s $500 million plan to fight climate change in Asia and is the company’s biggest climate investment yet and will. This aligns with the responsAbility’s investor goal of funding solutions that benefit both society and the environment in developing countries.
Charge Zone, an India-based EV charging network firm, has <a href="https://www.mercomindia.com/charge-zone-secures-19-million" target="_blank" rel="noopener">secured</a> a commitment of $19 million from British International Investment (BII), the United Kingdom’s development finance institution, to accelerate the expansion of EV charging infrastructure in India. This is BII’s second investment in India’s EV market since 2022 when the impact investor invested $250 million in Mahindra &amp; Mahindra’s passenger EV venture.
LiNova Energy, a developer of polymer cathode-based batteries, <a href="https://cms.mercomindia.com/polymer-battery-maker-linova-energy-raises-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $15.8 million in a Series A funding round led by Catalus Capital. Saft, a subsidiary of Total Energies, Chevron Technology Ventures, and a syndicate of investors, also participated in the round. This funding will help accelerate the company in research, development, and expansion of its high-energy polymer cathode battery technology.
Lithium battery startup PointO has <a href="https://www.mercomindia.com/pointo-raises-62-million-lithium-battery-ecosystem" target="_blank" rel="noopener">secured</a> ₹62 million (~$743,236) in seed funding, with Equirus InnovateX Fund (EIF) leading the round with an investment of ₹50 million ($599,364). The funds are expected to enable the company to build a full-stack lithium battery ecosystem, including manufacturing, financing, and servicing lithium batteries. Led by IIT-Guwahati alumni, PointO plans to expand its physical centers to more than ten cities in the next 12 months.
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-pine-gate-renewables-secures-650-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Scout Clean Energy Secures $100 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-pine-gate-renewables-secures-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Scout Clean Energy, a Colorado-based renewable energy developer, owner, and operator, <a href="https://mercomcapital.com/scout-clean-energy-secures-loan/" target="_blank" rel="noopener">announced</a> the closing of a $100 million equipment supply loan with Rabobank. The facility will be used to fund Scout equipment down payments. The company intends to upsize the facility to $200 million and bring in additional banks later in the year to secure equipment supply for Scout’s near-term advanced-stage pipeline of wind, solar, and storage projects.
EnviroSpark, a provider of electric vehicle (EV) charging solutions, <a href="https://mercomcapital.com/ev-charging-firm-envirospark-secures-funding/" target="_blank" rel="noopener">secured</a> a $50 million investment from funds that will help the company expand its EV charging landscape, which is owned and operated across the U.S. The funding round was advised by Basalt Infrastructure Partners, a U.S.-based equity investment firm focusing on investments in Europe and North America.
Independent power producer AMPIN Energy Transition has <a href="https://www.mercomindia.com/ampin-energy-secures-to-fund-expansion-plans" target="_blank" rel="noopener">secured</a> funding of up to $35 million from responsAbility, an investor focusing on private markets, to help AMPIN expand its clean energy projects across India. The investment is part of responsAbility’s $500 million plan to fight climate change in Asia and is the company’s biggest climate investment yet and will. This aligns with the responsAbility’s investor goal of funding solutions that benefit both society and the environment in developing countries.
Charge Zone, an India-based EV charging network firm, has <a href="https://www.mercomindia.com/charge-zone-secures-19-million" target="_blank" rel="noopener">secured</a> a commitment of $19 million from British International Investment (BII), the United Kingdom’s development finance institution, to accelerate the expansion of EV charging infrastructure in India. This is BII’s second investment in India’s EV market since 2022 when the impact investor invested $250 million in Mahindra &amp; Mahindra’s passenger EV venture.
LiNova Energy, a developer of polymer cathode-based batteries, <a href="https://mercomcapital.com/polymer-battery-maker-linova-energy-raises-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $15.8 million in a Series A funding round led by Catalus Capital. Saft, a subsidiary of Total Energies, Chevron Technology Ventures, and a syndicate of investors, also participated in the round. This funding will help accelerate the company in research, development, and expansion of its high-energy polymer cathode battery technology.
Lithium battery startup PointO has <a href="https://www.mercomindia.com/pointo-raises-62-million-lithium-battery-ecosystem" target="_blank" rel="noopener">secured</a> ₹62 million (~$743,236) in seed funding, with Equirus InnovateX Fund (EIF) leading the round with an investment of ₹50 million ($599,364). The funds are expected to enable the company to build a full-stack lithium battery ecosystem, including manufacturing, financing, and servicing lithium batteries. Led by IIT-Guwahati alumni, PointO plans to expand its physical centers to more than ten cities in the next 12 months.
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-pine-gate-renewables-secures-650-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.linovaenergy.com/" target="_blank" rel="noopener">LiNova Energy</a>, a developer of polymer cathode-based batteries, raised $15.8 million in a Series A funding round led by Catalus Capital. Saft, a subsidiary of Total Energies, Chevron Technology Ventures, and a syndicate of investors, also participated in the round.
This funding will help accelerate the company in research, development, and expansion of its high-energy polymer cathode battery technology.
&#8220;We are grateful for the support and confidence of our investors; This funding is a testament to the potential of our technology and the impact it will have on delivering a more sustainable battery for the world&#8217;s energy storage needs. With this investment, we are well-positioned to advance our mission and bring our innovative polymer cathode batteries to market,&#8221; said Michael Nagus, CEO of LiNova Energy.
The company stated that it has developed a high-energy polymer battery technology that is designed to allow material replacement of the traditional cathode containing cobalt, nickel, and other critical materials.
LiNova also announced that it has entered into a joint development agreement with Saft, pursuant to which LiNova and Saft will work together to develop the battery technology for commercialization in Saft&#8217;s key markets.
&#8220;This is the latest investment from our $300 million Future Energy Fund II, which focuses on industrial decarbonization, emerging mobility, energy decentralization, and the growing circular economy. We welcome LiNova Energy to the portfolio,&#8221; said Jim Gable, Vice President of Innovation and President of Technology Ventures at Chevron.
According to Mercom&#8217;s recently released 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, VC funding for Energy Storage companies increased by 9% YoY, with $1.2 billion in 23 deals in Q1 2024 compared to $1.1 billion raised in 19 deals in Q1 2023.
Anthro Energy, a provider of lithium-based battery solutions, <a href="https://cms.mercomindia.com/battery-startup-anthro-energy-raises-series-a-funding/" target="_blank" rel="noopener">recently</a> announced the closing of an over-subscribed $20 million Series A funding round. Collaborative Fund led the financing, with significant participation from existing investors. The funds gathered will be used to establish a Bay Area-based pilot production facility to commercialize and scale their battery technologies.

Polymer Battery Maker LiNova Energy Raises $15.8 Million in Series A Funding

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