NTPC Floats O&M Tender for 25 MW Floating Solar Project

MNRE Clarifies ALMM List II Rules for Solar Cell Compliance

IEX’s Electricity Trading Volume Rises 7.7% YoY in July

Distribution Business, Renewables Boost Torrent’s Revenue 3% in Q1 FY 2027

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

<a href="https://www.myenergi.com/" target="_blank" rel="noopener">myenergi</a>, a manufacturer of eco-smart home technology in the UK, secured a £30 million (~$36.49 million) investment from Energy Impact Partners (EIP). The investment will help the company’s growth and internationalization plans. The company had raised another debt financing earlier this year from HSBC.
“As we transition to a net zero future, it’s vital for consumers to be given easy and convenient ways to make the shift away from fossil fuels towards clean, green, renewable energy. We are really excited by the investment from EIP, which will help to bring our eco-smart products into more households, enabling our customers to monitor, manage and maximize their home energy, as well as reducing their emissions, streamlining their energy bills, and ultimately empowering them to become more energy independent,” commented Founder Jordan Brompton.
Lee Sutton and Jordan Brompton founded UK-based Myenergi in 2016 with the purpose of removing the barriers to a greener future, including the technological, behavioral, and financial challenges relating to the fast adoption of smart energy products, setting the company on a mission to pioneer a simple transition to renewable energy.
“The investment will help to deliver our next generation of product development and innovation, including our planned growth in grid services – such as demand side response, allowing us to better support our customers in undertaking their own home energy transition. We will also be investing in service excellence to ensure that our customers benefit from the best frontline support,” said founder Lee Sutton.
Jefferies, a leading global full-service investment banking and capital markets firm, acted as Sole Financial Advisor to myenergi.
According to Mercom’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, VC funding in Smart Grid companies in 1H 2023 was 32% higher, with $986 million compared to the $746 million raised in 1H 2022.

Smart Home Company myenergi Gets $36 Million

General Motors (GM) said its venture capital arm GM Ventures, would <a href="https://cms.mercomindia.com/energyx-receives-50-million-to-boost-lithium-supply-for-ev-batteries/">lead</a> a $50 million Series B financing round for EnergyX, a Texas-based startup developing a more efficient method to extract and process lithium from salt flats. EnergyX plans to use the new funding to construct five larger demonstration plants in North America and South America. General Motors will also help develop, refine, and deploy EnergyX’s technology.
Myenergi, a manufacturer of eco-smart home technology in the UK, has <a href="https://cms.mercomindia.com/myenergi-raises-34-million-in-funding-to-develop-smart-home-energy-products/" target="_blank" rel="noopener">secured</a> a £30 million (~$34 million) funding package from HSBC UK to support developing and producing its smart home energy products. The funding will expand the company’s operations, enhance its production capabilities, and invest in research and development to develop new products. The company aims to create solutions that help consumers manage their energy usage and costs more efficiently while reducing their carbon emissions and energy consumption.
ChargeLab, an electric vehicle charging software company, has <a href="https://cms.mercomindia.com/ev-charging-software-startup-chargelab-raises-15-million-in-series-a-funding/" target="_blank" rel="noopener">announced</a> the addition of $15 million in new financing to their Series A funding round, doubling funds previously raised and bringing the round’s total to $30 million. This expansion includes $10 million in new equity financing at an increased valuation and $5 million in venture debt. Silver Comet, an intelligent power management company, and Eaton, a global leader in power management technologies, provided the funding.
Allotrope Energy, a startup developing ultra-fast charging batteries, <a href="https://cms.mercomindia.com/biomaterial-battery-startup-allotrope-energy/" target="_blank" rel="noopener">announced</a> that it had received $6.7 million in funding from Suzano Ventures, the corporate venture capital fund of Suzano, a leading hardwood pulp producer. The investment will help Allotrope Energy accelerate the development and commercialization of its battery technology that can charge in minutes and use carbon extracted from a renewable biomaterial.
Haven Energy, a home battery installation startup, <a href="https://cms.mercomindia.com/home-battery-installer-haven-energy-raises-4-2-million-in-funding/">raised</a> $4.2 million in seed funding led by Lerer Hippeau and Giant Ventures, with participation from Quantum Innovation Fund and Raven One Ventures. The company plans to use the new capital to accelerate consumer adoption of its home battery systems in Southern California. Haven Energy plans to expand throughout California and to additional U.S. markets, targeting 100,000 installations by 2028.
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-and-ma-roundup-ryse-energy/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: EnergyX Receives $50 Million to Boost Lithium Supply

<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/2023/04/amazon_polly_52801.mp3?version=1765354633">
			</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-energyx-receives-50-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
General Motors (GM) said its venture capital arm GM Ventures, would <a href="https://mercomcapital.com/energyx-receives-50-million-to-boost-lithium-supply-for-ev-batteries/">lead</a> a $50 million Series B financing round for EnergyX, a Texas-based startup developing a more efficient method to extract and process lithium from salt flats. EnergyX plans to use the new funding to construct five larger demonstration plants in North America and South America. General Motors will also help develop, refine, and deploy EnergyX’s technology.
Myenergi, a manufacturer of eco-smart home technology in the UK, has <a href="https://mercomcapital.com/myenergi-raises-34-million-in-funding-to-develop-smart-home-energy-products/" target="_blank" rel="noopener">secured</a> a £30 million (~$34 million) funding package from HSBC UK to support developing and producing its smart home energy products. The funding will expand the company’s operations, enhance its production capabilities, and invest in research and development to develop new products. The company aims to create solutions that help consumers manage their energy usage and costs more efficiently while reducing their carbon emissions and energy consumption.
ChargeLab, an electric vehicle charging software company, has <a href="https://mercomcapital.com/ev-charging-software-startup-chargelab-raises-15-million-in-series-a-funding/" target="_blank" rel="noopener">announced</a> the addition of $15 million in new financing to their Series A funding round, doubling funds previously raised and bringing the round’s total to $30 million. This expansion includes $10 million in new equity financing at an increased valuation and $5 million in venture debt. Silver Comet, an intelligent power management company, and Eaton, a global leader in power management technologies, provided the funding.
Allotrope Energy, a startup developing ultra-fast charging batteries, <a href="https://mercomcapital.com/biomaterial-battery-startup-allotrope-energy/" target="_blank" rel="noopener">announced</a> that it had received $6.7 million in funding from Suzano Ventures, the corporate venture capital fund of Suzano, a leading hardwood pulp producer. The investment will help Allotrope Energy accelerate the development and commercialization of its battery technology that can charge in minutes and use carbon extracted from a renewable biomaterial.
Haven Energy, a home battery installation startup, <a href="https://mercomcapital.com/home-battery-installer-haven-energy-raises-4-2-million-in-funding/">raised</a> $4.2 million in seed funding led by Lerer Hippeau and Giant Ventures, with participation from Quantum Innovation Fund and Raven One Ventures. The company plans to use the new capital to accelerate consumer adoption of its home battery systems in Southern California. Haven Energy plans to expand throughout California and to additional U.S. markets, targeting 100,000 installations by 2028.
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://mercomcapital.com/funding-and-ma-roundup-ryse-energy/" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.myenergi.com/" target="_blank" rel="noopener">Myenergi</a>, a manufacturer of eco-smart home technology in the UK, has secured a £30 million (~$34 million) funding package from HSBC UK to support its development and production of smart home energy products.
The funding will help the company to expand its operations, enhance its production capabilities, and invest in research and development. The company aims to create solutions that help consumers manage their energy usage and costs more efficiently while reducing their carbon emissions and energy consumption.
Founded in 2016, myenergi offers two flagship products, the zappi electric vehicle charger, which is fairly self-explanatory, and the eddi solar power diverter, a device and system that allows users to manage their self-produced energy (PV or wind systems). Rather than exporting excess power generation back to the grid as is fairly common in any standard PV systems, the eddi power diverter allows users to divert extra power back to their heating systems, for example, and thus heating water on 100% self-generated green energy.
The company reported annual sales of over £50 million last year, employs close to 450 individuals, and has a yearly turnover rate of more than 180% over the past three years.
Frances Howell, Midlands Head of Corporate Banking at HSBC UK, said: “myenergi is a great example of a British business that is leading the way in developing smart home technology, helping people make the transition to renewable energy in their homes. This deal will allow the development of new green technologies, optimizing renewable energy usage to create eco-smart homes while putting British manufacturing back on the world stage.”
According to Mercom’s  Q1 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/q1-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage and Smart Grid. Corporate funding in Smart Grid came to $1.1 billion in 18 deals in Q1 2023, a 42% decrease compared to $1.9 billion in 23 deals in Q4 2022. In a YoY comparison, funding in Q1 2023 increased by 230% compared to $331 million in Q1 2022. Recently, Veloce Energy, a provider of hardware and software infrastructure solutions for EV charging and storage, <a href="https://cms.mercomindia.com/ev-charging-service-provider-veloce-raises-series-a-funding/" target="_blank" rel="noopener">announced</a> the closing of its initial Series A funding round. Itochu and Ecliptic Capital led the investment round.

myenergi

Get the most relevant India solar and clean energy news.

RECENT POSTS