Over $774M was raised in June by cleantech companies 1KOMMA5°, Eavor Technologies, Granite Source Power, CubicPV and Sunly

The top 5 cleantech investments in June 2023?German Cleantech Unicorn 1KOMMA5° Secures Almost $550M to Advance IoT Energy Solutions and Expand Reach in Europe

1KOMMA5°, a German-based cleantech startup, has secured almost $550 million in a Series B funding round, reaching a $1.3 billion valuation in just 23 months and joining Germany's select group of unicorns. This funding round was led by California-based (USA) VC firm G2VP, exceeding the startup's target by $83 million. G2VP Partner, Ben Kortlang has been appointed as Vice-Chairman of the 1KOMMA5° board.

The company plans to use the funding to enhance the vertical integration of its energy management technology and further its expansion into more European markets. Its key product, an IoT system called Heartbeat, connects homeowners' solar systems with electricity storage, heat pumps, and wallboxes to optimise energy consumption and reduce costs. With this new funding, 1KOMMA5° aims to make Heartbeat compatible with existing energy devices, broadening its impact.

1KOMMA5° was established in 2021 by a team including ex-Tesla country director Philipp Schr?der, who serves as the company's CEO. Its investors include Porsche Ventures, Norrsken Foundation, Schürfeld Group, Blue Elephant Capital, and eCapital. The company is committed to providing sustainable energy solutions to meet the UN's sustainable development goals, following the Paris Agreement's global target to limit temperature rise to 1.5°C. https://bit.ly/3D0scvM

Eavor Technologies Secures $43.2M in Series B Funding for Scalable Geothermal Technology Deployment

Canadian-based Eavor Technologies Inc., a leader in scalable geothermal closed-loop technology, has secured the first close of a Series B equity funding round, raising $43.2 million. OMV AG led the round and entered into a commercial agreement with Eavor to deploy Eavor's Eavor-Loop? technology on a large scale in Europe and beyond. Follow-on investments came from existing partners, including bp Ventures, Eversource Energy, and Vickers Venture Partners. Alongside the funding, Chubu Electric Power converted its debenture.

Eavor, guided by President, CEO, and Co-Founder John Redfern, plans to initiate drilling operations this summer at the Eavor-Europe? site in Geretsried, Bavaria, Germany. This marks the first commercial implementation of an Eavor-Loop?, demonstrating next-gen geothermal technology's zero-emission heat and power production capabilities. https://bit.ly/44un7Y5

Battery Storage Developer Granite Source Power Gains $40M Investment from New Energy Capital for Renewable Projects

Granite Source Power (GSP), a utility-scale energy development company, and New Energy Capital (NEC) have closed an equity partnership, securing $40 million in strategic growth capital to fund further renewable and battery storage development in GSP's key markets.?

GSP, founded in 2022, uses an owner-operator approach to address foundational project development and operational risks. The team, composed of industry experts with a significant history in renewable energy and battery storage projects, has developed a 3 GW greenfield development pipeline. In collaboration with Marathon Capital, LLC, GSP is marketing a diversified 2 GW stand-alone battery storage portfolio. https://prn.to/46AdngP

CubicPV Receives $103M Investment for US Silicon Wafer Manufacturing and Perovskite Research

US-based solar manufacturer CubicPV has secured $103 million in equity financing to develop a US silicon wafer production base and to support its research into perovskite-silicon tandem technology. The funding was led by SCG Cleanergy, a subsidiary of SCG, along with contributions from Hunt Energy Enterprises and Breakthrough Energy Ventures. The investment will release the first portion of $33 million immediately, and the remaining $70 million will be released upon achieving certain project milestones.

The funding supports CubicPV's plans to build a 10GW mono silicon wafer factory. The company is finalising the site selection and completing detailed designs. CubicPV and Korean-owned Qcells are among the few major players focusing on upstream domestic manufacturing in the US. https://bit.ly/3NALmgE

Sunly Secures $38.1M Investment from EBRD for Green Energy Development in the Baltic States and Poland

Sunly, a Pan-Baltic & Polish independent power producer, has welcomed the European Bank for Reconstruction and Development (EBRD) as a new minority investor with an equity commitment of around $38.1 million. The investment concludes Sunly's capital raise initiated in 2022, totalling approximately $292.1 million in capital injection.?

EBRD's funding will allow Sunly to expand its renewable energy capacity in the Baltics and Poland, a critical step in achieving significant greenhouse gas emissions savings and promoting regional energy security. https://bit.ly/3NYu0eT

Featured Innovator: The Footprint Project

In collaboration with Schneider Electric and Microsoft, the Footprint Project offers portable microgrids to supply electricity for various needs in areas affected by natural disasters like floods, hurricanes, and earthquakes. These microgrids have assisted in providing essentials such as food, water, medical services, and communication infrastructure in disaster-struck regions, including Louisiana, Kentucky, and Puerto Rico.?

With the help of cloud-connected inverters, the Footprint Project can manage microgrid fleets remotely and more efficiently, allowing for increased scalability. According to Will Heegaard, the founder and operations director, these microgrids reduce humanitarian relief's carbon footprint by providing cleaner energy to crisis-affected communities.

Find out more about this innovative portable microgrid at Time and Footprint Project.

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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.