Moment Energy secures $15 million in funding and M&A roundup
A recent development in the clean energy sector saw Moment Energy, a company specializing in repurposing electric vehicle (EV) batteries, secure $15 million in Series A funding. This latest investment brought the company’s total funding to $52 million and was co-led by the Amazon Climate Pledge Fund and Voyager Ventures. Moment Energy focuses on providing second-life battery energy storage systems by repurposing EV batteries.
In a separate funding announcement, responsAbility, an impact asset manager based in Switzerland, disclosed an investment of up to $20 million in Euler Motors, an electric commercial vehicles manufacturer based in New Delhi. This investment is part of responsAbility’s $500 million climate investment strategy aimed at reducing CO2 emissions in Asia through supporting e-mobility solutions.
The lithium-ion battery recycling company Li-Cycle successfully closed a previously announced underwritten public offering, raising approximately $15 million in gross proceeds. The company plans to utilize the net proceeds towards working capital and general corporate purposes. Ecozen, a Pune-based clean energy solutions company, secured over $23 million in debt funding from investors including responsAbility Investments, Northern Arc Capital, and Maanaveeya Development & Finance. The funds will be used to scale current businesses and expand operations within India and internationally.
Bolt.Earth, a provider of electric vehicle charging solutions, raised $5 million in a series A+ funding round led by Version One Ventures along with returning investors USV and Prime Venture Partners. The company plans to use the funds to enhance operational capacity across India and develop fast charging stations for various vehicles. Additionally, Hydro, a renewable energy company, agreed to acquire the remaining shares of battery recycling and raw materials company Hydrovolt from battery manufacturer Northvolt for NOK 78 million (~$7 million). Through this transaction, Hydro will increase its ownership in Hydrovolt from 72% to 100%.
These recent funding developments highlight the growing interest and investment opportunities in the clean energy sector, particularly in companies focusing on electric mobility, battery recycling, and energy storage. The investments from various stakeholders underscore the importance of sustainable and eco-friendly solutions in reducing carbon emissions and promoting renewable energy alternatives. For further updates on funding and M&A transactions in solar, energy storage, and smart grid sectors, interested parties can refer to relevant reports and trackers.
