Over $1 billion in transactions as Redwood Materials secures their Series D funding & other news from cleantech firms

Redwood Materials Secures Over $1B in Series D Funding to Strengthen US Battery Supply Chain

Redwood, a U.S.-based company, has completed a Series D funding round, raising over $1 billion. The funding was co-led by Goldman Sachs Asset Management, Capricorn's Technology Impact Fund, and T. Rowe Price Associates. Redwood will use funds to grow its capacity and offer domestic battery materials for the first time to enhance the USA battery supply chain.

Redwood's core strategy revolves around amassing end-of-life batteries, amplifying its refining capabilities, and leveraging these resources to produce sustainable battery materials. The company has now amassed nearly $2 billion in equity capital and a $2 billion loan commitment from the Department of Energy.

Prominent investors from the recent round include OMERS, Caterpillar Venture Capital, Microsoft’s Climate Innovation Fund, and Deepwater Asset Management. Redwood aims to create a closed-loop battery materials supply chain to support a sustainable future. https://bit.ly/45YNqGP

UrbanVolt Secures Over $28M Investment from Verdane for European Solar Expansion

UrbanVolt, an Ireland-based leader in the Solar-as-a-Service sector, has announced a significant $28.08 million investment from Verdane, a major European growth investor. This funding boosts UrbanVolt's total funds raised to over $216 million in debt and equity, propelling their solar energy expansion endeavours in Ireland, the UK, and broader European markets.

UrbanVolt’s unique offering helps businesses shift to clean energy cost-effectively. Their business model includes financing, installing, and maintaining solar panels, allowing customers to purchase solar-generated electricity at rates about 40% lower than traditional electricity providers.?

This partnership with Verdane arrives at a pivotal time, as Europe's solar panel capacity is projected to double by 2030 and increase by over four times by 2050. UrbanVolt, already a market leader, has secured agreements with over 150 businesses, including Heineken, Pfizer, Zimmer Biomet, and Syncreon.

Kevin Maughan, UrbanVolt’s CEO, emphasised the company's commitment to providing eco-friendly energy solutions that benefit both the environment and the consumer.? https://bit.ly/47X3niu

Laki Power Raises $3M for Power Line Surveillance Expansion Led by Eyrir V?xtur

Laki Power, an Iceland-based company specialising in surveillance stations for monitoring high-voltage lines, has secured $3 million in funding. The financing round was led by Eyrir V?xtur, with contributions from Brunnur Ventures and existing shareholders. These funds will strengthen product development, team expansion, and facilitate growth in international markets.

High-voltage power lines often encounter operational challenges due to severe weather conditions, which can induce power outages or necessitate real-time surveillance, especially in remote regions. Laki Power’s advanced surveillance stations, equipped with cameras and various sensors, allow energy corporations to monitor line status closely.

While traditional surveillance tools depend on less eco-friendly power sources like fossil fuels or solar cells, Laki Power's patented technology harnesses the electromagnetic field of high-voltage lines. In addition to surveillance stations, they are pioneering drone charging stations, simplifying the process for energy firms to power drones for maintenance and observation. https://bit.ly/45zvanj

Novatron Fusion Group Secures $5.4M in Seed Funding to Advance Commercial Fusion Power

Novatron, a Sweden-based company pioneering fusion energy production, has successfully closed its seed funding round, raising $5.4 million. Climentum Capital led the round and included Industrifonden, Santander InnoEnergy Climate Fund, KTH Holding, and EIT InnoEnergy participation.

Fusion energy provides an innovative solution that produces unlimited, clean, reliable, and affordable power to address the rising global energy demand and the urgency to shift away from fossil fuels. Novatron's novel approach, the NOVATRON concept, focuses on the magnetic stabilisation of superheated plasma, a current challenge in the commercialisation of fusion reactors. The Novatron Lab, located at the KTH Royal Institute of Technology in Sweden, is advancing the technology inspired by Swedish inventor Jan J?derberg.

With the newly secured funding, Novatron aims to build pre-commercial prototypes in the 2030s, focusing on enhancing the reliability and cost-effectiveness of its fusion reactors compared to existing alternatives.

The company has previously formed strategic partnerships with KTH Royal Institute of Technology and EIT InnoEnergy to advocate for the acceptance and global shift toward fusion energy.? https://bit.ly/3R6cjfe

Big Navajo Energy Receives Funding from Brown Venture Group to Promote Clean Energy in Tribal Areas

Big Navajo Energy, a U.S.-based Navajo-owned and operated company dedicated to the development and deployment of renewable energy solutions for tribal and rural communities, has received significant funding from Brown Venture Group LLC. This Black-owned venture capital firm was established to financially back technology entrepreneurs from Indigenous, Black, and Latinx backgrounds. Big Navajo Energy, established in 2012, is enhancing its capability to harness and produce hydrogen from sustainable resources within native territories. The tribal land inhabitants and other rural communities will receive this hydrogen as an alternative clean fuel.

Dory Peters, the CEO of Big Navajo Energy, remarked on their decade-long dedication to offering clean energy to North American tribal communities and expressed gratitude for Brown Venture Group's investment. This funding aims to foster a self-reliant ecosystem addressing energy challenges in tribal and broader rural areas. https://bit.ly/44BGlee

If you have any questions please reach out. We’d also love to expand our network, so please share this email with anyone in your network who may enjoy it.

Best Regards,

The Endow Capital Team

Endow Capital meets the most pressing global development issues by matching innovative companies with impact capital, achieved by its corporate finance advisory and strategic consulting services.?Find out more about our work .