Over $659 million was raised in January by cleantech companies Electra, INERATEC, Instagrid, Sion Power Corporation and Soly

The top 5 cleantech investments in January 2024?

Electra Secures Over $328 Million to Expand Fast-Charging Network in Europe

Electra, a France-based fast-charging network for electric vehicles, has announced a significant fundraising of $328.32 million, marking a record in the sector, led by Dutch pension fund service provider PGGM and supported by Bpifrance through its Large Venture fund. This round, which is the largest in France and second largest in Europe in the charging sector, also saw participation from historical investors, including Eurazeo, RIVE Private Investment, SNCF group through 574 Invest, and Serena, bringing Electra's total raised capital to nearly $648 million over three years.?

This investment aims to support the deployment of 2,200 stations with 15,000 charging points across Europe by 2030, with Electra already present in eight countries and nearly 1,000 charging points deployed. The company, which focuses entirely on fast charging with 100% proprietary technology, has formed strategic partnerships with notable entities such as Indigo, VINCI Autoroutes, and Stellantis, among others, to enhance its network and services, aiming to make electric vehicle charging as user-friendly as refuelling with gasoline. https://bit.ly/3HM15Xx

INERATEC Secures $129 Million for Sustainable e-Fuel Development

INERATEC, a Germany-based e-fuel company, has raised over $129 million in its Series B funding round to propel the next era of sustainable mobility. The round was led by Piva Capital, with significant contributions from HG Ventures, TDK Ventures, Copec WIND Ventures, RockCreek, Emerald, and Samsung Ventures. The investment also included increased support from existing investors, notably ENGIE New Ventures, Safran Corporate Ventures, Honda, Planet A Ventures, MPC, High-Tech Gründerfonds, and FO Holding.?

This investment marks a significant milestone for INERATEC, as noted by CEO Tim Boeltken, in transitioning from fossil fuels to sustainable e-fuels, with plans to transform 1GW of renewable energy into 125 million gallons of sustainable e-fuel by 2030.

INERATEC’s patented technology focuses on producing ‘drop-in’ e-fuels, crucial for hard-to-abate sectors like aviation, shipping, and the chemical industry. The company converts CO2 and hydrogen into synthesis gas, which is then transformed into liquid and solid hydrocarbons. https://bit.ly/47G7sWU

Instagrid Secures $95 Million in Series C Funding for North American Expansion

Instagrid, a Germany-based company specialising in portable battery systems, has raised $95 million in Series C funding, led by Teachers’ Venture Growth (TVG) and Morgan Stanley Investment Management’s 1GT climate private equity strategy. With a total funding of over $145 million, Instagrid plans to use this investment to expand into the North American market, enhancing production and diversifying its mobile power solutions.?

The company, co-founded by Dr Sebastian Berning and Dr Andreas Sedlmayr , has shipped nearly 30,000 units across 29 countries, demonstrating its success in replacing fossil fuel generators in construction and events. Existing investors include Energy Impact Partners, SET Ventures, blueworld.group , High-Tech Gründerfonds, Segnalita Ventures, Wille Finance AG, and advisory board chair Pierre-Pascal Urbon also participated in this funding round. https://bit.ly/42fWdDA

Sion Power Corporation Secures $75 Million for EV Battery Innovation

Sion Power Corporation, a US-based developer of next-generation batteries for electric vehicles, has successfully raised $75 million in Series A funding, led by LG Energy Solution through LG Technology Ventures and Bricks Capital Management, with additional investments from Jim Simons' Euclidean Capital and Eric Schmidt’s Hillspire LLC. This funding will support commercialising its proprietary Licerion technology, which promises enhanced safety, lifetime, and recharging rates for lithium metal batteries, offering up to twice the energy of conventional lithium-ion batteries.?

With this capital, Sion Power aims to validate its technology in the market, planning to establish a fully automated manufacturing line for high-quality, large-format lithium-metal cells. The investment underscores Sion Power's strong intellectual property portfolio and the industry's anticipation of its technology to significantly improve electric vehicle performance and drive broader adoption by extending driving ranges and reducing costs. https://bit.ly/49ggpIh

Soly Secures $32.7 Million in Funding to Expand Solar Energy Services Internationally

Soly, a Netherlands-based solar energy company, has successfully raised $32.7 million in funding. This financial boost was led by ArcTern Ventures and US-based Fifth Wall, with additional contributions from Shell Ventures and the pension fund ABP.?

Established in 2013 by Patrick and Milan van der Meulen, the company plans to use this investment to broaden its reach into Italy, Spain, France, and Scandinavia. Currently operating in the Netherlands, Belgium, Germany, South Africa, and Italy, Soly offers solar energy systems, batteries, and charging stations for sale and lease. As a certified B Corporation, their goal is to provide over 500,000 households and businesses with renewable energy by 2030.? https://bit.ly/491SKKU

Featured Innovator: All-Electric Tugboat, The ZEEtug

Navtek Naval Technologies, a Turkish company, is addressing the environmental impact of international maritime transport, which accounts for 3% of global greenhouse gas emissions, by introducing the ZEEtug. This innovative vessel is the world's first all-electric, zero-emission, rechargeable harbour tugboat operated by Turkey’s Gisas Shipbuilding. Capable of running up to three hours on a single charge, the ZEEtug not only offers savings on fuel costs but also significantly reduces heat emissions and noise pollution, thereby lessening the disturbance to marine life.

Learn more about the ZEEtug from Time and ZEEtug .

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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 .