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Li-Cycle, a lithium-ion battery recycling company, <a href="https://cms.mercomindia.com/li-cycle-secures-strategic-investment-from-glencore/" target="_blank" rel="noopener">entered</a> into an agreement to issue a senior secured convertible note in an aggregate principal amount of $75 million from an affiliate of Glencore, a producer, recycler, and marketer of nickel and cobalt for the production of lithium-ion batteries. The funding secured from Glencore’s affiliate is expected to strengthen the company’s position and bolster its strategic partnership with Glencore.
India-based battery materials producer LOHUM has <a href="https://www.mercomindia.com/lohum-secures-series-b-funding" target="_blank" rel="noopener">raised</a> ₹4.5 billion (~$54 million) in a series B funding from Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East, amongst other new and existing venture firms. The company will channel these funds to expand its market and scale up its battery materials recycling operations across India. The company will also expand to new energy transition materials markets in North America, the EU, the Middle East, Africa, and Asia.
Florida-based Sunergy Renewables, a residential solar and storage firm, <a href="https://www.mercomindia.com/sunergy-lists-on-nasdaq-spac-deal" target="_blank" rel="noopener">announced</a> it will begin trading on the Nasdaq Stock Exchange after merging with ESGEN Acquisition Corp, a special purpose acquisition company. The merged company, now called Zeo Energy Corp, will trade its shares and warrants under the ticker “ZEO” and “ZEOWW” and will be led by Sunergy’s senior management. The deal values the combined company at an implied $475 million enterprise value. The transaction raised approximately $18 million to fund its operations and growth strategy.
Pure Lithium, a Boston-based lithium metal battery technology company, has recently <a href="https://cms.mercomindia.com/pure-lithium-raises-15-million-in-series-a-funding/" target="_blank" rel="noopener">secured</a> $15 million in Series A funding from Oxy Low Carbon Ventures, an Occidental (Oxy) subsidiary dedicated to advancing innovative, low-carbon technologies and business solutions.  The funding will be used to accelerate the development and commercialization of Pure Lithium’s technology. The company also plans to tap into the electrochemical processing expertise that Oxy’s chemical business provides.
M4E Lithium, a lithium exploration company, has <a href="https://cms.mercomindia.com/lithium-exploration-company-m4e-lithium-secures-7-5m-to-10m-in-financing/" target="_blank" rel="noopener">secured</a> a $7.5 million to $10 million funding deal with Lithium Royalty Corp and the Electrification and Decarbonization fund managed by Waratah Capital Advisors. The funding is expected to propel exploration efforts across M4E&#8217;s extensive 91k hectares of mining rights in Brazil&#8217;s Lithium Valley and Borborema regions. The financing package includes an equity investment, a royalty purchase, and an option for a strategic offtake agreement (with a buyback option).
Carbon emissions management platform Sprih recently <a href="https://www.mercomindia.com/sprih-3-million-funding-global-expansion" target="_blank" rel="noopener">raised</a> $3 million in a seed funding round led by Leo Capital. The funds will be used to fuel the company’s sales and marketing activities and expansion. The company, which has created an artificial intelligence platform designed to assist companies in streamlining their sustainability goals, will use the funds to expand its presence in the U.S., Europe, and other key global markets, as well as its existing customer base in India.
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-energy-storage-firm-phelas-secures-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Li-Cycle Secures $75 Million Strategic Investment

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-li-cycle-secures-strategic-investment/" target="_blank" rel="noopener">Mercom Capital Group</a>
Li-Cycle, a lithium-ion battery recycling company, <a href="https://mercomcapital.com/li-cycle-secures-strategic-investment-from-glencore/" target="_blank" rel="noopener">entered</a> into an agreement to issue a senior secured convertible note in an aggregate principal amount of $75 million from an affiliate of Glencore, a producer, recycler, and marketer of nickel and cobalt for the production of lithium-ion batteries. The funding secured from Glencore’s affiliate is expected to strengthen the company’s position and bolster its strategic partnership with Glencore.
India-based battery materials producer LOHUM has <a href="https://www.mercomindia.com/lohum-secures-series-b-funding" target="_blank" rel="noopener">raised</a> ₹4.5 billion (~$54 million) in a series B funding from Singularity Growth, Baring Private Equity, Cactus Venture Partners, and Venture East, amongst other new and existing venture firms. The company will channel these funds to expand its market and scale up its battery materials recycling operations across India. The company will also expand to new energy transition materials markets in North America, the EU, the Middle East, Africa, and Asia.
Florida-based Sunergy Renewables, a residential solar and storage firm, <a href="https://www.mercomindia.com/sunergy-lists-on-nasdaq-spac-deal" target="_blank" rel="noopener">announced</a> it will begin trading on the Nasdaq Stock Exchange after merging with ESGEN Acquisition Corp, a special purpose acquisition company. The merged company, now called Zeo Energy Corp, will trade its shares and warrants under the ticker “ZEO” and “ZEOWW” and will be led by Sunergy’s senior management. The deal values the combined company at an implied $475 million enterprise value. The transaction raised approximately $18 million to fund its operations and growth strategy.
Pure Lithium, a Boston-based lithium metal battery technology company, has recently <a href="https://mercomcapital.com/pure-lithium-raises-15-million-in-series-a-funding/" target="_blank" rel="noopener">secured</a> $15 million in Series A funding from Oxy Low Carbon Ventures, an Occidental (Oxy) subsidiary dedicated to advancing innovative, low-carbon technologies and business solutions.  The funding will be used to accelerate the development and commercialization of Pure Lithium’s technology. The company also plans to tap into the electrochemical processing expertise that Oxy’s chemical business provides.
M4E Lithium, a lithium exploration company, has <a href="https://mercomcapital.com/lithium-exploration-company-m4e-lithium-secures-7-5m-to-10m-in-financing/" target="_blank" rel="noopener">secured</a> a $7.5 million to $10 million funding deal with Lithium Royalty Corp and the Electrification and Decarbonization fund managed by Waratah Capital Advisors. The funding is expected to propel exploration efforts across M4E&#8217;s extensive 91k hectares of mining rights in Brazil&#8217;s Lithium Valley and Borborema regions. The financing package includes an equity investment, a royalty purchase, and an option for a strategic offtake agreement (with a buyback option).
Carbon emissions management platform Sprih recently <a href="https://www.mercomindia.com/sprih-3-million-funding-global-expansion" target="_blank" rel="noopener">raised</a> $3 million in a seed funding round led by Leo Capital. The funds will be used to fuel the company’s sales and marketing activities and expansion. The company, which has created an artificial intelligence platform designed to assist companies in streamlining their sustainability goals, will use the funds to expand its presence in the U.S., Europe, and other key global markets, as well as its existing customer base in India.
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-phelas-secures-4-5-million-funding" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.purelithium.io/" target="_blank" rel="noopener">Pure Lithium</a>, a Boston-based lithium metal battery technology company, secured an investment of $15 million in Series A funding from Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental (Oxy) dedicated to advancing cutting-edge, low-carbon technologies and business solutions.
OLCV acted as the lead investor in Pure Lithium&#8217;s Series A equity financing, which may raise up to an additional $15 million for a proposed total funding amount of $30 million.
Pure Lithium specializes in the development of battery-ready pure lithium metal electrodes crafted from a range of readily available lithium salts. The technology claims to eliminate 90% of the costs involved with traditional lithium metal foil production and produces a protected battery-ready electrode.
&#8220;At Pure Lithium, our mission is to commercialize the lithium metal battery via vertical integration across the entire value chain, from resource to battery. Our breakthrough Brine to Battery™ lithium metal extraction technology produces battery-ready lithium metal anodes in one step from aqueous lithium sources. Our resulting lithium metal batteries have achieved over 800 charge and discharge cycles while retaining 97% capacity, proving the performance of our Pure Lithium metal anode. We are thrilled to have OLCV join our journey as a value-adding shareholder. Their strategic vision is well aligned with Pure Lithium.&#8221; said Emilie Bodoin, Founder and CEO of Pure Lithium.
The funding will be used to accelerate the development and commercialization of Pure Lithium&#8217;s technology. The company also plans to tap into the electrochemical processing expertise that Oxy&#8217;s chemical business provides.
&#8220;We are excited to invest in Pure Lithium and support their revolutionary technology, which has the potential to sustainably transform lithium brine into battery-ready materials,&#8221; said Dr. Robert L. Zeller III, Vice President of Technology for OLCV, who recently joined Pure Lithium&#8217;s Scientific Advisory Board. &#8220;OLCV looks to accelerate Pure Lithium&#8217;s ambitions by leveraging our scale-up experience and operating discipline earned from over a century of chlor-alkali and chemical manufacturing, business acumen, and innovation, and our new TerraLithium business.&#8221;
According to Mercom&#8217;s 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.

Pure Lithium Raises $15 Million in Series A Funding

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