Funding and M&A Roundup: RayGen Resources Raises A$27 Million for Solar-Plus-Storage

Alternus Energy Group acquires a majority interest in Netherlands-based Unisun Energy

June 14, 2021

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RayGen Resources, an Australian deep-technology originator and developer of innovative solar-plus-storage projects, has secured A$27 million (~$20 million) funding as part of a Series C Capital Raise. The private funding includes strategic investments by AGL, Photon Energy, and Chevron, alongside new and existing investors. The private funding has been supported with A$15 million (~11 million) of non-dilutive, recoupable grant funding by the Australian Renewable Energy Agency. Series C funding will be used to build, commission, and operate the RayGen Power Plant Carwarp, which will add 4MW of solar and 3MW / 50MWh (17 hours) of storage to the West Murray grid.

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