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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-ma-roundup-form-energy-raises-750million-funding/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Form Energy, an iron-air-based battery systems provider, has </strong><a href="https://mercomcapital.com/form-energy-raises-750-million-iron-air-battery-production/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $750 million in a Series G</strong> financing round, bringing Form Energy’s total equity funding to more than $2 billion. T. Rowe Price led the round, along with new investors Sequoia Capital, Janus Henderson, Franklin Templeton, and PEAK6 Investments. Morgan Stanley acted as the sole placement agent for the private placement.</p>
<p><strong>Hydrostor, a developer and operator of compressed air energy-based long-duration energy storage systems, has </strong><a href="https://mercomcapital.com/energy-storage-developer-hydrostor-secures-230-million/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> a $230 million equity</strong> investment from existing and new investors. The investment includes previously announced funding from a convertible note committed by Canada Growth Fund, Goldman Sachs Alternatives, and Canada Pension Plan Investment Board. Additional funding came through a strategic equity round involving Baker Hughes, Hatch, Realize Capital Partners, a Social Finance Fund wholesaler, and other investors.</p>
<p><strong>Motilal Oswal Group has <a href="https://www.mercomindia.com/inox-clean-raises-billion-motilal-oswal-group" target="_blank" rel="noopener">committed</a> ₹15 billion (~$157.20 million) to Inox Clean Energy, the integrated renewable energy platform of the INOXGFL Group.</strong> Of the amount, ₹10 billion (~$104.80 million) has already been invested through compulsorily convertible debentures. The fresh capital will be utilized to support Inox Clean’s growth trajectory and its inorganic growth initiatives. Inox Clean operates its renewable independent power producer (IPP) business through its subsidiary, Inox Neo Energies, and its solar manufacturing business through Inox Solar.</p>
<p><strong>Londian Wason, a manufacturer of electrolytic copper foil, has </strong><a href="https://mercomcapital.com/londian-wason-raises-94-3million-new-york-exchange-ipo/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $94.3 million</strong> through its initial public offering. The company is listed on the New York Stock Exchange under the ticker symbol FOIL. Londian Wason said it is the only copper foil manufacturer worldwide to have chosen a U.S. public listing. It has offered approximately 4.3 million American Depositary Shares at $22 per share.</p>
<p><strong>Electric mobility-as-a-service company Yulu has </strong><a href="https://www.mercomindia.com/yulu-raises-93-million-in-series-c-funding-eyes-200000-ev-fleet" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $93 million in a Series C funding</strong> round led by GEF Capital Partners. The funding comprises $63 million in equity and $30 million in debt. The Bengaluru-based company plans to use the proceeds to increase its active fleet fourfold to 200,000 electric vehicles over the next two years, expand its service hub network, and strengthen enterprise partnerships. Yulu also plans to launch Yulu Express, a full-sized, high-payload electric scooter designed for e-commerce logistics, bike taxis, and express parcel delivery services.</p>
<p><strong>SunScout Holding Limited, a clean-technology company developing autonomous solar-powered robotic mowers and related solar energy solutions, has </strong><a href="https://mercomcapital.com/sunscout-raises-15-5-million-in-initial-public-offering/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $15.5 million</strong> through its initial public offering. The company offered 3.1 million Class A ordinary shares at $5 per share. SunScout’s Class A ordinary shares began trading on the NYSE American and NYSE Texas under the ticker symbol ‘SNSC’ on August 12, 2026.</p>
<p><strong>Kinematics, a provider of motion control systems for solar, industrial, and satellite applications, has </strong><a href="https://mercomcapital.com/kinematics-acquires-solar-tracker-solutions-provider-renutrak/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> RenuTrak</strong>, a provider of solar tracker repowering solutions. The financial terms of the acquisition were not disclosed. RenuTrak focuses on repowering existing solar tracker systems by upgrading selected components and controls rather than replacing entire tracker systems, according to Kinematics.</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-and-ma-roundup-ore-energy-raises-43-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Form Energy Raises $750 Million in Series G Funding


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					</table><p><a href="https://hydrostor.ca/" target="_blank" rel="noopener">Hydrostor</a>, a developer and operator of compressed air energy-based long-duration energy storage systems, has secured a $230 million equity investment from existing and new investors.</p>
<p>The investment includes previously announced funding from a convertible note committed by Canada Growth Fund, Goldman Sachs Alternatives, and Canada Pension Plan Investment Board.</p>
<p>Additional funding came through a strategic equity round involving Baker Hughes, Hatch, Realize Capital Partners, a Social Finance Fund wholesaler, and other investors.</p>
<p>National Bank of Canada Capital Markets and Rothschild &amp; Co. acted as financial advisers to Hydrostor in connection with the transaction. Goldman Sachs &amp; Co acted as placement agent.</p>
<p>Hydrostor develops LDES systems using advanced compressed air energy storage technology. The technology uses compressed air and water to store energy for delivery to power grids. The company plans to use the funding to advance the development of its 7 GW global pipeline of advanced compressed air energy storage projects.</p>
<p>“The grid needs bankable long-duration energy storage that can be deployed today to enable affordable and reliable electricity for all, and Hydrostor’s continued fundraising success is a testament to the potential of our A-CAES technology to get us there,” said Curtis VanWalleghem, Chief Executive Officer and Co-Founder of Hydrostor. “We’re excited to bring in sophisticated partners who understand the role Hydrostor will play in modernizing the grid.”</p>
<p>The funding will also support the company’s 500 MW Willow Rock Energy Storage Center in the U.S. as it moves toward financial close later this year. The project has received the necessary permits for development and plans to begin construction later this year.</p>
<p>In January, Terralayr, a developer, owner, and operator of battery energy storage assets, <a href="https://mercomcapital.com/energy-storage-developer-terralayr-secures-223-million/" target="_blank" rel="noopener">raised</a> €192 million (~$223 million) in an equity round, including an €80 million (~$93 million) upsizing option, led by Eurazeo, through its Eurazeo Transition Infrastructure Fund, RIVE Private Investment, Creandum, Norrsken, Earlybird Venture Capital, and Picus Capital.</p>
<p>According to Mercom’s recently <a href="https://mercomcapital.com/product/1h-2026-funding-ma-report-energy-storage/" target="_blank" rel="noopener">released</a> 1H 2026 Funding and M&amp;A for Energy Storage report, VC 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>


Energy Storage Developer Hydrostor Secures $230 Million Equity Funding

<p><a href="https://www.hydrostor.ca/" target="_blank" rel="noopener">Hydrostor</a>, a Canada-based long-duration energy storage solution provider, announced that it had secured $250 million funding from the Private Equity and Sustainable Investing Businesses within <a href="https://www.goldmansachs.com/" target="_blank" rel="noopener">Goldman Sachs Asset Management</a>.</p>
<p>The company is expected to utilize proceeds to develop and construct its 1.1 GW/8.7 GWh of advanced compressed air energy storage (A-CAES) projects in Australia and California. The fresh funding would also be used to expand the company’s project development pipeline globally. The company had <a href="https://mercomindia.com/daily-news-energy-portfolio-chile/" target="_blank" rel="noopener">announced</a> in May 2021 that it would develop 1 GW of long-duration energy storage in California. Spread between two sites, the projects represented a combined investment of over $1.5 billion.</p>
<p>According to Hydrostor, its patented A-CAES technology provides long-duration energy storage to enable renewable energy transition. The new technology utilizes proven components from mining and gas operations to develop a scalable energy storage system that is cost-effective, low-impact, and has over 50 years of lifetime. The technology can store energy from five hours to multiple days as per the requirements.</p>
<p>Goldman Sachs is expected to fund its investment in tranches tied to project milestones to match Hydrostor’s capital requirements and enhance project execution throughout development, construction, and operation. The funding would also support Hydrostor’s global development and marketing initiatives, including its project pipeline expansion and capabilities in the market with significant near-term demand for long-duration energy storage.</p>
<p>Ford Capital Partners and CIBC Capital markets were financial advisors to Hydrostor, and Davies Ward Phillips &amp; Vineberg served as legal counsel.</p>
<p>Curtis VanWalleghem, Chief Executive Officer and Co-founder of Hydrostor said, “We are delighted with this investment by Goldman Sachs. It is transformational for Hydrostor and validates the competitiveness of our proprietary A-CAES solutions as well as the strength of our pipeline of potential projects.”</p>
<p>In August 2021, Hydrostor <a href="https://mercomindia.com/funding-and-ma-roundup-sunnova-private-offering/" target="_blank" rel="noopener">received</a> $10 million of growth capital from BDC Capital to advance its pipeline of long-duration A-CAES storage projects.</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/product/9m-q3-2021-funding-ma-report-storage-grid-efficiency/" target="_blank" rel="noopener">9M and Q3 2021 Funding and M&amp;A Report for Storage, Grid &amp; Efficiency</a>, battery storage companies raised a record $11.4 billion in corporate funding through 73 deals in 9M 2021, a 244% increase compared to $3.5 billion raised in 35 deals in the same period last year.</p>
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Energy Storage Company Hydrostor Secures $250 Million Funding from Goldman Sachs

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