NanoGraf, a battery materials company announced a $65 million Series B funding round. Volta Energy Technologies and CC Industries co-led the funding round and witnessed participation from GIC, Emerald Technology Ventures, Material Impact, Arosa Capital, Nabtesco Technology Ventures, TechNexus, and existing investors Hyde Park Angels, Evergreen Climate Innovations, and Goose Capital.
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India-based Amara Raja Batteries is planning to invest €10 million in InoBat Auto, a European company that specializes in battery research and development for electric vehicles, as well as the manufacture of lithium-ion battery cells and customised cells. The investment by Amara Raja follows a $5 million investment by the company in Log 9 Materials, an Indian battery and charging company.
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Tag Energy has taken a 100 per cent share in the Lakeside battery energy storage system (BESS) project which has a capacity of 99.9 MW. This is Tag Energy’s fifth investment in the UK this year. The BESS was purchased for around £65 million from RES, and Tag Energy also purchased the 50 MW Roaring Hill Energy Storage Project from RES in October 2021.
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BCPG PLC, a Thai renewables firm, has invested $24 million in VRB Energy, a producer of vanadium flow batteries, to help it expand its worldwide energy storage business.The investment will go into developing VRB Energy’s unique storage system, enhancing production capacity, and vertically integrating vanadium processes.
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Energy storage capacity is set to ramp up at a rapid pace in the United States over the medium term. According to the US Energy Information Administration’s (EIA) latest Monthly Generators Statistics from November 2020, the country had just under 1,350MW of utility-scale battery storage capacity in operation, with LS Power’s 250MW Gateway Energy Storage System in California the largest project in operation.
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