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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-voya-energy-raises-35-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Voya Energy, a company that develops aluminum-based metal-fuel energy systems, has </strong><a href="https://mercomcapital.com/voya-energy-raises-35-million-to-scale-aluminum-based-energy-system/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $35 million in a Series A funding</strong> round to support the commercial deployment of its energy system. Energy Impact Partners led the round, with participation from John Doerr, Mantis VC, StepStone, Founders Fund, Overmatch, Seven Stars, and other institutional investors. The company plans to use the funding for technology development, initial deployments in 2027, and manufacturing scale-up in 2028.</p>
<p><strong>Certain Energy, a U.K. long-duration energy storage company developing manganese flow batteries, has </strong><a href="https://mercomcapital.com/certain-energy-raises-14-million-to-scale-manganese-flow-batteries/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> £10 million (~$13.63 million) in a Series A funding round</strong> to commercialize its technology and prepare for grid deployments. The British Business Bank led the round, with participation from Centrica, Ceres Power Holdings, and Temasek Trust’s Catalytic Capital for Climate and Health. Certain Energy plans to use the funding to scale its technology, develop a grid-connected megawatt-hour-scale energy storage system in India, expand its U.K. research facility, and establish a supply chain for future projects.</p>
<p><strong>Teragen Energy, a developer of modular solid-oxide fuel cell power systems for data centers, industrial sites, and utilities, has </strong><a href="https://mercomcapital.com/fuel-cell-developer-teragen-energy-raises-6-million-in-pre-seed-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $6 million</strong> in an oversubscribed pre-seed funding round. BEVC and Energy Capital Ventures co-led the round. AP Ventures, AIC Ventures, the Massachusetts Clean Energy Center, and UntroD Capital Asia also participated. Teragen is developing onsite power generation systems that use solid oxide fuel cell technology.</p>
<p><strong>Expion Energy (formerly Expion360), a provider of lithium-ion battery power storage solutions, has </strong><a href="https://mercomcapital.com/expion-energy-raises-9-million-through-convertible-debenture-placement/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $9 million through a private placement of convertible debentures with accredited investors</strong>. Expion issued $9 million in aggregate principal amount of 8% convertible debentures and warrants to purchase up to 2,117,219 shares of its common stock. The warrants have an initial exercise price of $4.25 per share, subject to adjustment. The company received approximately $8.2 million in net proceeds after placement agent fees and estimated offering expenses.</p>
<p><strong>MARS Energy Group, a diversified energy and infrastructure company, has </strong><a href="https://mercomcapital.com/mars-energy-group-acquires-citadel-roofing-solar-in-california/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> Northern California residential roofing and solar contractor Citadel Roofing &amp; Solar,</strong> marking its 11th acquisition<strong>. </strong>The companies did not disclose the transaction value or the financial terms of the acquisition. The acquisition expands MARS’ presence in California and its residential roofing and solar operations. Citadel serves homebuilders and homeowners in Northern California through new construction roofing and solar, reroofing, and retrofit solar installations.</p>
<p><strong>Hero MotoCorp has approved an investment of up to ₹17.58 billion (~$175.8 million) to </strong><a href="https://www.mercomindia.com/hero-motocorp-to-raise-equity-stake-in-ather-by-2-92" target="_blank" rel="noopener"><strong>acquire</strong></a><strong> additional equity shares in electric two-wheeler (e-2Ws) manufacturer Ather Energy</strong>, increasing its fully diluted shareholding by up to 2.92%. Hero will purchase the additional shares for cash from an existing Ather shareholder. The company held a 29.88% stake in Ather on a fully diluted basis as of August 25, 2026. Following the transaction, its shareholding will increase to up to 32.8% on a fully diluted basis.</p>
<p><strong>Electric motorcycle and energy storage solutions company Matter has </strong><a href="https://www.mercomindia.com/matter-raises-%E2%82%B92-4-billion-to-expand-electric-motorcycle-production" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹2.4 billion (~$25 million</strong>) in fresh growth capital from existing investors to expand production capacity, retail footprint, and electric motorcycle portfolio. The latest funding takes Matter’s total capital raised to approximately ₹10 billion (~$104.17 million). More than ₹7.5 billion (~$78.13 million) of this funding has been deployed toward research and development, product development, manufacturing, and market expansion.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-ma-roundup-abren-secures-1-6billion-from-mufg" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Voya Energy Raises $35 Million


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					</table><p><a href="https://www.certainenergy.co.uk/" target="_blank" rel="noopener">Certain Energy</a>, a UK long-duration energy storage company developing manganese flow batteries, has raised £10 million (~$13.63 million) in a Series A funding round to commercialize its technology and prepare for grid deployments.</p>
<p>The British Business Bank led the round, with participation from Centrica, Ceres Power Holdings, and Temasek Trust’s Catalytic Capital for Climate and Health.</p>
<p>Certain Energy plans to use the funding to scale its technology for volume production, develop a grid-connected megawatt-hour-scale energy storage system in India, expand its UK research facility, and establish a supply chain for future projects.</p>
<p>“The renewable power market is held back by its vulnerability to external factors,” said Executive Chair Mark Selby. “Last year, the UK Government spent around £1.5 billion (~$2 billion) asking renewable energy providers to shut off their operations during peak production, and left unaddressed, the grid operator expects that to climb towards £8 billion (~$11 billion) a year by 2030. The answer is long-duration energy storage, and Certain Energy has the technology and now the funding to deliver highly efficient, affordable batteries, based on abundant materials, to make this a reality.”</p>
<p>Previously known as RFC Power, Certain Energy was founded in 2017 as a spin-off from Imperial College London. Certain Energy’s flow battery uses manganese as a primary material. The system can increase its discharge duration by expanding the size of its electrolyte tanks. This configuration allows the technology to provide energy storage for periods ranging from hours to days.</p>
<p>The company said its technology has a round-trip efficiency of more than 75% and is designed to provide grid services, reserve capacity, and longer-duration electricity storage.</p>
<p>Certain Energy said its patented electrolyte is designed for a 20-year operating life with limited capacity degradation. The company claims its design and materials could reduce marginal storage costs to about one-tenth of those associated with comparable vanadium flow batteries and could also lower costs compared with lithium-ion energy storage systems.</p>
<p>According to Mercom’s recently released 1H 2026 Funding and M&amp;A for Energy Storage <a href="https://mercomcapital.com/product/1h-2026-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a>, venture capital funding for energy storage companies in 1H 2026 totaled $1.6 billion across 51 deals, representing a 6% YoY decline compared to the $1.7 billion raised across 36 deals in 1H 2025.</p>
<p>In May, CMBlu Energy, an organic solid flow battery technology developer, <a href="https://mercomcapital.com/flow-battery-company-cmblu-closes-59-million-series-c-funding/" target="_blank" rel="noopener">announced</a> the completion of a €50 million (~$58.5 million) initial close of its Series C funding round, bringing the company’s valuation to over a €1 billion (~$1.17 billion). The round included participation from Samsung Ventures, alongside existing investors, including STRABAG SE.</p>


Certain Energy Raises $14 Million to Scale Manganese Flow Batteries

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