Funding and M&A Roundup: Battery Materials Company Sila Raises $375 Million

From: Mercom Capital Group

Sila, a battery materials company, has secured $375 million in a Series G funding round led by Sutter Hill Ventures, an existing investor, and funds and accounts advised by T. Rowe Price Associates. The round saw participation from new and existing investors, including Bessemer Venture Partners, Coatue, Perry Creek Capital, and others. Ardea Partners LP served as the exclusive financial advisor to Sila for its Series G round.

Brookfield, an investment firm, has signed a share purchase agreement to acquire approximately 53.12% of the shares of Neoen, an independent renewable energy power producer, at a price of €39.85 per share (~$42.71 per share). Brookfield signed the agreement with French investment company Impala, Fonds Strategique de Participations, managed by ISALT, Cartusia, Xavier Barbaro, and other shareholders.

e-Zinc, a developer of zinc-air-based long-duration energy storage solutions, raised an additional $31 million in Series A2 financing. This oversubscribed Series A2 round was led by Evok Innovations, with additional investments from Mitsubishi Heavy Industries, Export Development Canada , and Ultratech Capital Partners. This funding will be used to accelerate the development of e-Zinc’s manufacturing base, with plans to enable the commercialization of its long-duration energy storage solution.

Be.EV, an EV charging provider, secured £55 million (~$70 million) in debt financing from NatWest and the German KfW IPEX-Bank. The funding was also supported by existing investor Octopus Energy, a renewable energy group specializing in sustainable energy, which invested £110 million (~$128 million) last year. This deal will help the company expand and achieve its goal of operating over 1,000 rapid and ultra-rapid charge points across the UK by the end of 2024, making public EV chargers more accessible.

Ameresco, a company that develops and operates clean energy assets, has secured a $100 million second lien debt financing from Nuveen Energy Infrastructure Credit, with Oppenheimer & Co. acting as the lead arranger for the transaction. This funding will solidify the company’s commitment to growing its business and provide a stable balance sheet on attractive terms.

For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.

Read last week’s funding roundup.


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