Funding and Mergers and Acquisitions Roundup: Arcadia, climate software and data startup raised $200 million in funding
Arcadia, a climate software and data startup, saw an increase of $200 million in a new funding round. Axium Infrastructure acquired Boston-based solar and energy storage developer BlueWave. Li-Cycle completed a $50 million aggregate investment from LG Energy Solutions and LG Chem.
Arcadia, a climate software and data startup focused on decarbonizing the electric grid, raised $200 million in a new funding round. The latest financing comes just a few months after the company closed a $100 million Series D round and brings its total funding to over $370 million.
Li-Cycle, a lithium-ion battery recycling company, completed a $50 million combined investment in common shares from LG Energy Solutions and LG Chem.
Princeton NuEnergy, a clean-tech startup company from Princeton University focused on directly recycling lithium-ion batteries from electric vehicles and consumer electronics, raised $7 million in a seed funding round.
Ambient Photonics, a low-light solar photovoltaic cells company, raised $31 million in Series A funding. The company plans on using the new funds to build the largest low-light solar cell production facility in the USA. The facility's fully automated production line and capacity for tens of millions of units per year will enable Ambient to scale its low-cost, high-power-density solar cells to mass market adoption.
Schneider Electric, a French multinational company providing energy and digital automation solutions for efficiency and sustainability, agreed to acquire AutoGrid, a supplier of artificial intelligence-powered optimization solutions for distributed energy resources.
Caterpillar, a construction-equipment manufacturing company, has acquired Tangent Energy Solutions, a distributed energy resources company that provides C&I customers with the technology, assets, and managed services needed to identify and capitalize on economic opportunities on the energy grid without disrupting normal operations. Common Energy, a community solar supplier, raised $16.5 million in funding from S2G Ventures, the direct investment team of Builders Vision.
Aker Horizons announced the completion of the sale of its remaining shares in Norway-based polysilicon and silicon gas producer REC Silicon to South Korea's Hanwha Group. In a bourse filing, Aker Horizons said it has sold all its 70.1 million shares in REC Silicon at a price of NOK 20 per share, which corresponds to a total payment of about NOK 1.4 billion. The buyers are Hanwha Solutions and Hanwha Corp, and following the transaction, Kristian Rokke has stepped down as the chairman of the board of REC Silicon.
Ecofin U.S. Renewables Infrastructure Trust announced its intention to raise new capital by placing new ordinary shares of $0.01 each in the capital of the company at a price of $1.015 per new ordinary share. The company has fully deployed its IPO proceeds and has drawn down $9.1 million under its revolving credit facility.