Funding and M&A Summary: Factorial Energy Raises $200M in Solid State Battery

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By: Mercom Capital Group

Factorial Energy, a manufacturer of solid state batteries, behaved $200 million in Series D funding round led by Mercedes-Benz (DAI) and Stellantis. The funding will be used to accelerate commercial production and deployment of Factorial’s solid state battery technology, which is safer and offers up to 50 percent greater range than current lithium-ion technology. Factorial is building a state-of-the-art pilot manufacturing facility in the New England area and construction is scheduled to begin in early 2022.

8minute Solar Energy, a developer of utility-scale PV power plants and energy storage projects, closed $400 million in funding from EIG, an institutional investor in the global energy and infrastructure sector. The financing agreement includes a portion of the growth capital and a letter of credit.

Amp Energy, a renewable energy developer, announced the closing of an innovative $350 million cross-border credit facility with a consortium of institutional investors including Brookfield Asset Management and Nomura Securities. Brookfield Asset Management and the sovereign wealth fund were the primary investors in this transaction. ECP will join the consortium upon completion.

OYA Solar, an independent power producer, has behaved additional capital, bringing corporate investment to $35 million. Proceeds from the expanded investment will be used to accelerate the development and construction of OYA’s 3+GW pipeline across the Northeast and Mid-Atlantic and to fund acquisitions.

Aigen, a solar-powered robotic platform for agriculture and soil regeneration, announced 4 million dollars Seed round led by NEA with participation from AgFunder, Global Founders Capital and ReGen Ventures.

Aker Horizons, an investment firm, announced that it had completed the transaction with Hanwha Solutions, a multinational energy services, petrochemical and real estate development company. As part of the transaction, Aker Horizons sold approximately 21.9 million shares of REC Silicon to Hanwha Solutions at NOK 20 (approx. USD 2.3) per share, raising approximately NOK 438 million (approx. USD 50). In addition, Hanwha Solutions acquired approximately 48.2 million new shares of REC Silicon in a private placement, raising approximately NOK 964 million (~US$110) in proceeds for REC Silicon.

Fifth Third Bancorp, a diversified financial services company, announced entered into a definitive agreement to acquire Dividend Finance, a fintech point-of-sale (POS) lender, which provides solar financing solutions for residential renewable energy and sustainability-focused home improvement. Fifth Third currently expects the transaction to close in the second quarter of 2022.

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Read last week’s funding overview.


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