Over $20 million in transactions as Renewvia secures a development loan & other news from cleantech firms

Renewvia Energy Corporation Secures $15M for Solar and Storage Projects

Renewvia Energy Corporation, a US-based global leader in solar development and installation, has secured a $15 million development loan from Treehouse Development Finance, an affiliate of Treehouse Investments. This funding will accelerate the development of a 2 GW solar and storage project pipeline, targeting 150 - 450 MW projects in the TVA, MISO, and SERC regions.?

Seth Stulgis , director of development at Renewvia, emphasised that this partnership with Treehouse Development Finance will expedite deploying solar projects across the U.S., aligning with Renewvia's mission of fostering a greener planet and supporting rural communities economically.

Renewvia Energy Corporation, with diverse business lines including utility-scale solar development, commercial and industrial solar projects in the U.S., a carbon blockchain-based trading platform, and microgrid solutions in Africa, promotes sustainable energy solutions worldwide. This new partnership with Treehouse Development Finance is a significant step towards achieving large-scale renewable energy projects, particularly in the southeast United States. https://bit.ly/3syTEz1

esVolta Partners with U.S. Bank for California Energy Storage Project

esVolta, a U.S.-based developer, owner, and operator of utility-scale battery storage projects, has announced a tax equity investment from U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank. This investment will finance esVolta's Santa Paula Energy Storage project, a 30 MW / 60 MWh battery project near Los Angeles. The project will be operational towards the end of 2023 and will contribute reliable electric capacity and ancillary services to the California electric grid. It includes long-term contracts with a major energy commodity firm and several California electric community choice aggregators.

Enabled by the Inflation Reduction Act of 2022, this partnership marks esVolta's first tax equity transaction. Randolph Mann , esVolta's president, expressed gratitude for the U.S. Bank's role in this significant financing. Additionally, Scott Jacobs , CEO and co-founder of Generate Capital, which acquired esVolta in July 2022, highlighted the importance of utility-scale storage in infrastructure transition. https://bit.ly/465Wl8U

Ventive Secures Approximately $1.1M Investment for Heat Pump Development

Ventive, a U.K.-based heat pump specialist, has secured an investment of around $1.1 million led by NetScientific Plc, a deep tech and life sciences venture capital investment group. This funding is part of Ventive's proposed $1.22 million to $1.83 million investment program, with additional funding expected before April 30, 2024. EMV Capital, a wholly-owned venture capital and corporate finance firm of NetScientific Plc, led and released the investment.

The investment will support Ventive in completing the design and testing phase and building the factory for its modular heat pumps. It will also enhance Ventive's passive air ventilation product range and boost marketing and sales efforts for its existing products. In addition, converting convertible loans has streamlined the company's balance sheet. https://bit.ly/3FUiixd

Coperniq Secures $4M in Seed Funding for Solar SaaS Solution

Coperniq, a U.S.-based SaaS startup, has raised $4 million in a seed funding round to improve project management for solar panel installers. The company, co-founded in 2021 by Abdullah Al Zandani and Max Kazakov, offers specialised software to streamline workflows for solar and energy contractors. This platform provides tools for monitoring project progress, managing workflows, and overseeing performance, all centralised in one dashboard.

The funding round was led by Initialized Capital, with participation from Y Combinator, which previously included Coperniq in its Winter 2023 batch, focusing on climate tech startups. The investment aims to support Coperniq's market growth and expansion and address solar installers' challenges, such as coordination, scheduling, and managing multiple projects.?

Coperniq's software is tailored for residential and commercial EPCs (Engineering, Procurement, and Construction), offering a solution connecting people, data, and systems for efficient energy asset deployment and maintenance. The company's emphasis on long-term recurring revenue positions it as a key partner for solar installers. https://bit.ly/3QXhkXl

Energy Selalu Baru Secures Funding for Volta EV Brand Expansion

Energy Selalu Baru (ESB), an Indonesia-based electric vehicle maker and owner of the Volta two-wheeler brand, has recently raised fresh funds. The investment round was led by Twin Towers Ventures (TTV), the investment arm of Petronas Ventures, and Rigel Star Fund LP, also known as Rigel Capital. Although the financial details were not disclosed, the funding is estimated to have exceeded the $35 million target.

Founded in 2017 and headquartered in Semarang, Central Java, Volta became part of ESB following its acquisition in 2021 by a joint venture between logistics company SiCepat and NFC Indonesia, a subsidiary of listed M Cash Integrasi subsidiary.

The fresh capital injection comes as Volta experiences substantial growth, reporting double-digit million revenue and nearing profitability. The company offers three electric scooter models, ranging from approximately $770 to $1 300, boasting over 40% locally sourced components. Their EVs feature Internet of Things capabilities, allowing users to monitor battery capacity in real-time. https://bit.ly/49Mhpob

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