Germany-based flow battery company VoltStorage has been granted a venture debt loan of €30 million (US$33 million) by the European Investment Bank (EIB), guaranteed by the European Commission.

US developer Broad Reach Power has closed US$435 million in financing to start construction on 880MW of battery storage projects in the CAISO and ERCOT markets, for 2023/24 commissioning.

Australian renewables and storage developer Genex Power has switched on its first battery storage project and entered a joint development agreement (JDA) with Japan’s J-Power.

Leyline Renewable Capital has provided loans to developers RAI Energy and Grid Connected Infrastructure (GCI) for solar and storage projects.

Developers Spearmint Energy, On.Energy, Nexus Renewables and Granite Source Power have collectively secured US$300 million for US battery storage projects, the bulk by Spearmint.

Vertically integrated US energy storage company Kore Power has received a conditional commitment from the US Department of Energy (DOE) for a $850 million loan for its Arizona gigafactory.

Eolian has taken the amount of financing it has raised in just three years since founding to more than a billion-and-a-half-dollars.

The US Department of Energy’s Loan Programs Office (LPO) has announced a US$375 million loan to lithium-ion recycling firm Li-Cycle to finance its material recovery facility in Rochester, New York.

Australia’s government has put its support behind two major transmission projects which will increase the utilisation of renewable energy.