CrossBoundary Energy Raises $140 Million in Funding and M&A Roundup
CrossBoundary Energy, a renewable energy developer, recently secured a significant $140 million senior debt commitment from the Standard Bank of South Africa. This funding, which is just the first part of a larger $300 million plan, will help CrossBoundary Energy expand its renewable energy portfolio and provide services to commercial and industrial clients throughout Africa.
In another exciting development, AMPECO, a software platform for EV charging solution providers, successfully raised $26 million in a Series B funding round. This round was led by Revaia and included support from existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures. The total funding for AMPECO now stands at an impressive $42 million, which will be used to drive growth, enhance products, and enter key markets such as Western Europe, the Nordics, the UK, North America, and Southeast Asia.
On the home front, India-based Rajesh Power Service made waves with its Initial Public Offering (IPO) on the BSE SME platform. The IPO generated a lot of interest and was oversubscribed 59 times, raising approximately ₹1.6 billion (~$18.8 million). When the company’s shares were listed, they opened at a 90% premium over the IPO price, showing strong investor confidence in the company’s future.
FPR Energy, a new venture in Australia backed by CSIRO, the country’s national science agency, secured A$15 million (~$10 million) in seed funding. The focus of FPR Energy is on commercializing cutting-edge solar thermal technology to reduce emissions in heavy industries like minerals refining, steel, cement, and chemical production. By utilizing CSIRO’s particle-based Concentrated Solar Thermal (CST) technology, FPR Energy aims to make a significant impact on environmental sustainability.
Lastly, Reefilla, a startup specializing in mobile and predictive charging delivery service for electric vehicles, received €4.5 million (~$4.8 million) in funding. CDP Venture Capital led this round through the Green Transition-PNRR Fund, using NextGeneration EU resources. Reefilla plans to use this funding to further their research and development efforts to turn end-of-life batteries into second-life batteries for energy storage and mobile charging solutions.
These developments highlight the growing interest and investment in renewable energy, EV charging solutions, and cutting-edge technologies aimed at reducing emissions and promoting sustainability. As the world continues to focus on combatting climate change, these companies are at the forefront of innovation and are poised to make a real difference in the energy sector. For more updates on funding and M&A in the solar, energy storage, and smart grid industries, click here.
