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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-ore-energy-raises-43-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Ore Energy, a developer of iron-air batteries for long-duration energy storage, has <a href="https://mercomcapital.com/ore-energy-raises-43-million-to-scale-iron-air-battery-manufacturing/" target="_blank" rel="noopener">raised</a> $43 million</strong> in Series A funding in a round co-led by Plural and HV. Positron Ventures also participated in the round, bringing the company’s total funding to more than $61 million. Ore Energy plans to use the funding to establish its first manufacturing facility and expand its manufacturing, commercial, and operations teams.</p>
<p><strong>Naked Energy, a solar thermal solutions provider, has <a href="https://mercomcapital.com/naked-energy-raises-12-million-expand-solar-thermal-manufacturing/" target="_blank" rel="noopener">secured</a> a combined £8.9 million (~$12 million)</strong> investment from Great British Energy and Barclays Climate Ventures to establish a manufacturing facility in the U.K. Great British Energy is investing £7.5 million (~$10.13 million) through its Energy Engineered in the U.K. program. Barclays Climate Ventures, an existing Naked Energy shareholder, is also participating in the funding round.</p>
<p><strong>Enpal, a solar PV and battery leasing solutions company, is <a href="https://mercomcapital.com/enpal-sells-majority-stake-in-subsidiaries-for-75-million/" target="_blank" rel="noopener">selling</a> a majority stake</strong> in several of its subsidiaries that hold a portfolio of residential energy systems to an investor consortium. The consortium comprises Equitix Investment Management, Keppel Infrastructure Trust, MM Capital Partners 2, and Mizuho Leasing Company. Enpal will receive up to €65 million (~$75 million) from the transaction through multiple closings.</p>
<p><strong>Solar project developers Verdant Energy and Aura Power Developments have <a href="https://mercomcapital.com/verdant-aura-merge-form-solar-storage-ipp-uk/" target="_blank" rel="noopener">merged</a> to form a solar and battery energy storage system independent power producer</strong> with approximately 1 GW of operating and under-construction assets in the U.K. The merger combines Verdant’s operating and under-construction solar and co-located battery storage portfolio with Aura Power’s contracted project portfolio and will operate under the Aura Power brand.</p>
<p><strong>Robotic solar module cleaning equipment supplier Aegeus Technologies’ ₹237 million (~$2.49 million) initial public offering (IPO) was <a href="https://www.mercomindia.com/aegeus-technologies-initial-public-offering-oversubscribed-24-times" target="_blank" rel="noopener">subscribed</a> </strong>24.33 times at the end of the bidding window on August 6, 2026. The IPO consisted of a fresh issue of 2.26 million equity shares. The price band was set at ₹100 (~$1.05) to ₹105 (~$1.104) per equity share, with a face value of ₹10 (~$0.105). The IPO saw bids for 41.02 million shares out of the 1.69 million shares on offer.</p>
<p><strong>Waaree Smart Meters, a step-down subsidiary of Waaree Energies, has <a href="https://www.mercomindia.com/waaree-buys-stake-in-smart-meter-company-eppeltone-for-%E2%82%B9218-million" target="_blank" rel="noopener">acquired</a> a 24.21% equity stake</strong> in smart meter manufacturer Eppeltone Engineers for approximately ₹217.8 million (~$2.3 million). According to Waaree, the acquisition aims to integrate smart meters into its operations and strengthen its presence across the energy value chain. Eppeltone Engineers manufactures electronic energy meters, including smart meters, and power conditioning devices. Waaree Smart Meters completed the acquisition through an off-market transaction on August 7, 2026.</p>
<p><strong>Electric two-wheeler manufacturer River Mobility has <a href="https://www.mercomindia.com/river-mobility-raises-120-million-in-series-c-funding" target="_blank" rel="noopener">raised</a> $120 million (~₹11.4 billion) in a Series C funding round</strong> led by Elev8 Venture Partners and Claypond Capital. The funding round also saw participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIIF, and HDFC Asset Management Company. River’s existing international investors include Yamaha Motor, Mitsui &amp; Co., Al-Futtaim, Marubeni Ventures, Lowercarbon Capital, Toyota Ventures, and Maniv Mobility. The company said the funding will support the expansion of its manufacturing footprint.</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-base-power-raises-1billion-funding-round" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Ore Energy Raises $43 Million


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					</table><p><a href="https://www.oreenergy.com/" target="_blank" rel="noopener">Ore Energy</a>, a developer of iron-air batteries for long-duration energy storage, has raised $43 million in Series A funding in a round co-led by Plural and HV.</p>
<p>Positron Ventures also participated in the round, bringing the company’s total funding to more than $61 million.</p>
<p>The iron-air batteries store electricity through the oxidation and reduction of iron electrodes, commonly described as rusting and unrusting. The company claims its technology can provide long-duration energy storage at 10x lower per-unit cost than lithium-ion.</p>
<p>Ore Energy plans to use the funding to establish its first manufacturing facility and expand its manufacturing, commercial, and operations teams. The facility will test the company’s ability to manufacture its battery systems at scale before its planned transition to gigawatt-hour-scale production in 2028.</p>
<p>Aytac Yilmaz, Co-founder and CEO of Ore Energy, said, &#8220;Expensive energy is the biggest barrier to growth, something European businesses and politicians know only too well. Affordable, renewable baseload power is the foundation for the next generation of manufacturing, AI infrastructure and industrial growth globally. Ore Energy&#8217;s long-duration storage is an essential part of that future. This funding will help us build our first manufacturing facility and put us on the path to GWh-scale production, making renewable electricity available whenever and wherever needed.&#8221;</p>
<p>The company has signed an agreement to supply 1 GWh of energy storage to Budget Thuis, a Netherlands-based energy and telecommunications provider. It has also conducted pilot projects with French utility EDF to test the technology in utility applications.</p>
<p>In January this year, iron-air battery manufacturer Meine Electric <a href="https://www.mercomindia.com/battery-manufacturer-meine-electric-raises-%E2%82%B967-million-in-pre-seed-funding" target="_blank" rel="noopener">raised</a> $750,000 (~₹67 million) in a pre-seed funding round to accelerate its transition from laboratory-scale prototypes to pilot-ready iron-air battery systems. Antler, Rebalance, Venture Catalysts, gradCapital, and AIC-AU Incubation Foundation provided the funding.</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>


Ore Energy Raises $43 Million to Scale Iron-Air Battery Manufacturing

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