Funding and M&A Roundup: Hydrogen Fuel Cell Company Bramble Energy Raises $47M


From: Mercom Capital Group

London-based hydrogen fuel cell company Bramble Energy raised £35m (~$47m) in a Series B funding round led by HydrogenOne Capital Growth. Other existing institutional investors, BGF, IP Group, Parkwalk Advisors and the UCL Technology Fund, joined the round. The funds will be used to expand the product line and implement hydrogen fuel cells. The additional funding is expected to help Bramble expand its team to more than 100 employees and provide a springboard for the commercial deployment of zero-emissions projects.

Sunvigo, a Cologne-based solar system installer, raised 15 million euros (~$17 million) in the last funding round. Sparta Capital and Eneco led the funding round along with Ecosummit, High-Tech Grunderfonds (HTGF) and Ubermorgen Ventures. Deutsche Kreditbank AG (DKB) provided an additional €5m (~$5.7m) in loan capital. Sunvigo offers owners an electricity contract, including a solar system. The company installs and operates the solar panels at the customers’ premises, while they only pay for the electricity. In addition to solar systems, Sunvigo also offers battery storage solutions and charging devices for electric vehicles.

Antora Energy, a California-based thermal energy storage developer, raised $50 million in funding. Breakthrough Energy Ventures and Lowercarbon Capital co-led the funding round with Shell Ventures, BHP Ventures, Grok Ventures, Trust Ventures, Overture VC, Impact Science Ventures and existing investor Fifty Years VC. The company plans to use the new funds to develop its first projects with its customers and accelerate hiring.

Shell Power Systems, a distributed utility company that provides mini-grids to rural communities and businesses entirely from renewable energy sources, announcement that he got ₹310 million (~$4.2m) in debt financing from the Indian Renewable Energy Development Agency (IREDA). IREDA is a state-owned non-banking financial institution under the administrative control of the Ministry of New and Renewable Energy that promotes, develops and expands financial support for renewable energy projects.

South Korean electric vehicle battery manufacturer LG Energy Solution (LGES) announcement that it had acquired NEC Energy Solutions, a US-based grid battery integrator LG Energy Solution has acquired 100% of the shares of NEC Energy Solutions from its parent company, NEC Corporation. With the acquisition, LGES will create a company under a new name, LG Energy Solution Vertech. Following the acquisition of NEC Energy Solutions technologies, LG Energy Solution will offer fully integrated AC and DC storage systems, all supported by modified operating services to meet customer needs; these services could include equipment installation, remote monitoring service and scheduled maintenance.

JET Charge, an Australian electric vehicle (EV) charging infrastructure and technology company, announced that it has raised over A$25 million (~$17.84 million) in a round of Series B financing. The Royal Automobile Club of Victoria (RACV) led the Series B funding round. The Clean Energy Finance Corporation (CEFC), through the Clean Energy Innovation Fund, and Claremont Capital, Greg Roebuck, founder of .au, and climate tech investor Simon Monk were the other attendees.

Above is a solar data and analytics company, secured a £2.4 million (~$3.2 million) investment from the Clean Growth Fund, a UK venture capital fund that invests in early-stage clean energy technology companies. Above, founded in 2016, works with solar energy companies to provide solar project data and analysis through its interactive web platform, SolarGain. The company’s technology digitizes solar assets, thereby optimizing the operational efficiency and performance of ground- and rooftop-mounted solar PV assets.

Brazilian communications equipment company Intelbras, known for its electronics and security products, announcement the acquisition of the company Santa Catarina Renovigi Energia Solar in a deal worth 334 million reais (~$64.8 million). The acquisition is part of Intelbras’ strategy to consolidate itself as a reference company in the solar energy market. The operations of the two companies, as well as the commercial and product policies, will remain independent.

German the Enercity electric utility is to acquire a 30% stake in the PV start-up based in Cologne to strengthen its capacities in the solar sector. Founded in 2019, Installion uses a digital platform to carry out assembly work for photovoltaic systems, electronic charging boxes and storage systems.

Berlinbased in Solar, the start-up Sunhero has raised $4 million in a seed funding round. Speedinvest led the funding round, with participation from All Iron Ventures. The funding will be used to expand the company’s future growth, primarily in sales, operations and leadership positions, while considering international expansion plans.

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

Read last week’s funding roundup.


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