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Lyten, a lithium-sulfur battery developer, <a href="https://cms.mercomindia.com/lyten-acquires-battery-manufacturing-assets-from-cuberg/" target="_blank" rel="noopener">announced</a> the acquisition of a lithium-metal battery manufacturing facility and cell-making equipment in San Leandro, California, from Cuberg, a battery manufacturer owned by Northvolt. Lyten will lease Cuberg’s 119,000-square-foot facility, which includes manufacturing, office, and warehouse space. It will also acquire battery cell development and manufacturing equipment and make additional equipment investments to expand the facility’s capacity.
Sympower, a provider of electrical grid monitoring management software solutions, has <a href="https://cms.mercomindia.com/sympower-raises-23-million-in-series-b1-funding/" target="_blank" rel="noopener">raised</a> €21.3 million (~$23 million) in oversubscribed Series B1 funding. The funding round was led by A&amp;G Energy Transition Tech Fund, an independent financial services group based in Spain with direct investment from the European Investment Fund. With this funding, the company plans to roll out solutions for grid stability for battery energy storage systems.
Ion Storage Systems (ION), a manufacturer of high energy density and solid-state lithium metal batteries, <a href="https://cms.mercomindia.com/ion-storage-systems-secures-10-million-debt-financing/" target="_blank" rel="noopener">secured</a> $10 million in debt funding from Leonid Capital Partners, an investment firm that provides non-dilutive, debt-based investments. The company will use this funding to expand its solid-state battery technology.
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 financial details of the transaction were not disclosed. The transaction is subject to approval by the Competition and Consumer Protection Commission. This acquisition enables Bord Gáis Energy to cater to residential, business, and farming customers as it transitions to a green energy business.
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-glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Lyten Acquires Battery Manufacturing Assets from Cuberg

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-lyten-acquires-battery-manufacturing-assets-from-cuberg/" target="_blank" rel="noopener">Mercom Capital Group</a>
Lyten, a lithium-sulfur battery developer, <a href="https://mercomcapital.com/lyten-acquires-battery-manufacturing-assets-from-cuberg/" target="_blank" rel="noopener">announced</a> the acquisition of a lithium-metal battery manufacturing facility and cell-making equipment in San Leandro, California, from Cuberg, a battery manufacturer owned by Northvolt. Lyten will lease Cuberg’s 119,000-square-foot facility, which includes manufacturing, office, and warehouse space. It will also acquire battery cell development and manufacturing equipment and make additional equipment investments to expand the facility’s capacity.
Sympower, a provider of electrical grid monitoring management software solutions, has <a href="https://mercomcapital.com/sympower-raises-23-million-in-series-b1-funding/" target="_blank" rel="noopener">raised</a> €21.3 million (~$23 million) in oversubscribed Series B1 funding. The funding round was led by A&amp;G Energy Transition Tech Fund, an independent financial services group based in Spain with direct investment from the European Investment Fund. With this funding, the company plans to roll out solutions for grid stability for battery energy storage systems.
Ion Storage Systems (ION), a manufacturer of high energy density and solid-state lithium metal batteries, <a href="https://mercomcapital.com/ion-storage-systems-secures-10-million-debt-financing/" target="_blank" rel="noopener">secured</a> $10 million in debt funding from Leonid Capital Partners, an investment firm that provides non-dilutive, debt-based investments. The company will use this funding to expand its solid-state battery technology.
Bord Gáis Energy, an Ireland-based energy supplier and services provider, <a href="https://mercomcapital.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 financial details of the transaction were not disclosed. The transaction is subject to approval by the Competition and Consumer Protection Commission. This acquisition enables Bord Gáis Energy to cater to residential, business, and farming customers as it transitions to a green energy business.
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’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">roundup</a>.

<a href="https://sympower.net/" target="_blank" rel="noopener">Sympower</a>, a provider of electrical grid monitoring management software solutions, has raised €21.3 million (~$23 million) in oversubscribed Series B1 funding. The funding round was led by A&amp;G Energy Transition Tech Fund (A&amp;G ETTF), an independent financial services group based in Spain with direct investment from the European Investment Fund (EIF).
Existing investors such as Activate Capital, Rubio Impact Ventures, PDENH, and Expon Capital participated in the funding round. The company also announced the extension of its Supervisory Board by welcoming Jesús Lozano Lopez from A&amp;G and Tim Healy, the former Chairman and CEO of energy intelligence and demand response leader EnerNOC.
With this funding, the company plans to roll out solutions for grid stability for battery energy storage systems. Part of the funding will also be used for future mergers and acquisitions, European expansion, and scaling of operations.
“I’m grateful for the continuous support of our investors and delighted to see new ones putting their trust in us. Completing an oversubscribed funding round shows our investors’ confidence in our vision, team, and execution capabilities. This new funding will be key in expanding our operations and enabling us to deliver a sophisticated and mature offering for battery energy storage systems.” said Simon Bushell, Founder and CEO of Sympower.
In 2022, the company <a href="https://cms.mercomindia.com/sympower-raised-22-4-million/" target="_blank" rel="noopener">raised</a> €22 million (~$22.4 million) in an oversubscribed funding round led by Silicon Valley-based Activate Capital, Expon Capital, with previous investors Rubio Impact Ventures, PDENH, and Rockstart.
According to Mercom’s 9M and Q3 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid/" target="_blank" rel="noopener">report</a> for Energy Storage and Smart Grid, VC funding across all Smart Grid companies in 9M 2024 totaled $1.4 billion in 43 deals, 13% higher year-over-year than the $1.2 billion raised in 37 deals in 9M 2023.

Sympower Raises $23 Million in Series B1 Funding

<a href="https://sympower.net/" target="_blank" rel="noopener">Sympower</a>, a company developing solutions to balance the electricity grid, has raised €22 million (~$22.4 million) in an oversubscribed funding round led by Silicon Valley-based Activate Capital, Expon Capital, with previous investors Rubio Impact Ventures, PDENH and Rockstart also participating.
The company plans to use the new funds to serve more industrial and commercial customers across Europe, including demand-side loads, renewable energy production, electric vehicle charging, and battery storage facilities.
“Given the current uncertainty in both the financial and energy markets, we are delighted to have secured further VC investment and we welcome aboard the experienced teams of Activate and Expon. The ongoing trust and support of our current investors is also invaluable as we accelerate the expansion of our services across Europe. This will help enable the transition to a clean energy system and assist in solving short-term problems during the current EU energy crisis,” said Simon Bushell, Founder and CEO of Sympower.
Founded in 2015, Sympower operates in 9 countries, with over 750 MW of flexible distributed energy sources under management across a portfolio of more than 200 industrial and commercial customers. The company’s software solutions stabilize the grid through demand response and other flexibility services.
“Recent events in Europe highlight the importance of energy independence in an increasingly volatile market. Sympower’s elegant software solution ties distributed energy resources into complex grid operations enabling a reliable and efficient transition of Europe’s energy infrastructure. We are excited to back Simon and the team as they continue to build a pan-European offering,” said Anup Jacob, Managing Partner at Activate Capital.
According to Mercom’s 1H and Q2 2022 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2022-funding-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">Report</a> for Storage, Grid &amp; Efficiency, in Q2 2022, VC funding for Smart Grid companies increased to $419 million in eight deals compared to $312 million in 12 deals in Q1 2022. Funding amounts were 138% higher YoY compared to $176 million raised in seven deals in Q2 2021.
Singularity Energy, a SaaS platform that reports on carbon emissions for the electricity grid, recently <a href="https://cms.mercomindia.com/singularity-energy-raise-seed-funding/" target="_blank" rel="noopener">raised</a> $4.5 million in a seed funding round. Spero Ventures and Energy Impact Partners led the round with existing investors, Third Sphere, J Ventures, and other individual investors.

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