Recent Deals – 1 October

Looking for insight into the latest deals in cleantech? Interested in the future of innovation? Our recent Deals brings you a summary of the latest investment.

Agriculture & Food

AgBiome developer of microbial solutions for crop protection, raised $116 million in growth equity from Blue Horizon, Novalis LifeSciences, Bayer, Fidelity Investments, UTIMCO, The Mosaic Company, Polaris Partners, ARCH Venture Partners and Pontifax AgTech. AgBiome researches and develops crop protection and pest control products from bio-based sources, resulting in reduced environmental damage. The company plans to use the new funds to add more products to its offering, expand team and customer outreach. It is also planning rollout of its second product in early 2022.

Energy & Power

Enervenue, developer of metal-hydrogen batteries for stationary storage applications secured $100 million in a Series A round from Schlumberger, Saudi Aramco Energy Ventures and Stanford University. The start-up has developed Nickel-Hydrogen batteries with a reported lifespan of 30+ years with flexible, non-degrading charging cycles. Enervenue will use the funds to scale its production capabilities and build a Gigafactory in the United States. Alongside the investment, the company has entered into a partnership agreement with Schlumberger to manufacture and distribute the batteries to international markets.

Materials & Chemicals

Mantle, producer of production-grade tools, molds, and dies using metal additive manufacturing, raised $25 million in Series B funding from Fine Structure Ventures, Foundation Capital, Hypertherm Ventures, Future Shape, 11.2 Capital and Corazon Capital. The precision 3d printing offers geometrical flexibility and reduced lead times for OEMs. Mantle will use the funding to build out its team, with a goal to commercialize its first systems in early 2022.

Resources & Environment

Battery Resourcers, developer of li-ion battery recycling services, raised $70 million in growth equity from Hitachi Ventures, Orbia Ventures, Jaguar Land Rover, InMotion Ventures, Doral Energy-Tech Ventures, At One Ventures, TDK Ventures and TRUMPF Venture. The company provides closed-loop cathode materials to the required metal ratios and other specifications. It reports metal recovery of up to 97% from spent lithium-ion batteries. Battery Resourcers aims to open two new commercial sites in Europe, with an operational target of late 2022. Combined with one existing plant in the United States, the company will have 30,000 tons of recycling capacity across its 3 sites.

Transportation & Logistics

Deeproute.ai, provider of a full-stack self-driving solution with a focus on L4 self-driving technology, raised $300 million in Series B funding from Alibaba, Jeneration Capital Management, Fosun RZ Capital, Yunqi Partners and Glory Ventures. The company has 20 self-driving cars already operational in shanghai for its robotaxi program. The new funding will go towards Research and Development, expanding team and increasing market reach by collaborating with OEMs and mobility companies. It also aims to develop solutions for urban mobility and freight delivery.

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