Glencore has completed its USD $40 million takeover of bankrupt lithium-ion recycler Li-Cycle, securing facilities in the U.S., Canada, and Germany with a combined processing capacity of 61,000 metric tons annually. Li-Cycle’s assets, once valued at over USD $860 million, included the paused Rochester Hub project, initially budgeted at USD $560 million but later projected to cost nearly USD $1 billion. While North American “spoke” sites remain idle, the German facility continues operating, positioning Glencore to expand its role in the global battery materials supply chain.

FlexGen has completed the acquisition of key assets and intellectual property from Powin, strengthening its global leadership in grid-scale battery storage. The deal brings FlexGen’s support portfolio to 25 GWh of systems across 200 projects in 10 countries, with former Powin staff joining to ensure continuity. Customers will be able to migrate to FlexGen’s HybridOS® software and lifecycle services, enhancing uptime and grid reliability as storage demand accelerates worldwide.

Copenhagen Infrastructure Partners (through its CI V fund) has acquired full ownership of the 250 MW / 1 GWh Beehive Battery Energy Storage System in Peoria, Arizona, from EDF Power Solutions. The project, which is backed by a 20‑year tolling agreement with Arizona Public Service, entered construction earlier this year and is expected to go into commercial operation in early 2026. Financial terms were not disclosed, but the acquisition is enabled by CI V’s robust capital base, which closed at over USD 14 billion and carries a total commitment capacity of USD 27 billion.

Statkraft has agreed to sell Enerfín Canada to Atlantica Sustainable Infrastructure, including experienced staff, two operating wind farms totalling 236 MW, and a 0.8 GW pipeline of wind, solar, and storage projects. The package features a 51% stake in the 100 MW L’Érable wind facility in Quebec (PPA-backed since 2013) and a 136 MW wind asset in Alberta (online December 2024, with an average of 15 years of PPA remaining). No sale price was disclosed. Closing is expected by the end of 2025.

Group14 Technologies has closed a USD $463 million Series D, led by SK Inc. with participation from Porsche, ATL, OMERS, Microsoft’s Climate Innovation Fund, and others. The round brings Group14’s total equity raised to over USD $1 billion. Alongside the raise, Group14 acquired the remaining 75% of its South Korea BAM-3 factory from SK, securing full control of a 10 GWh silicon battery materials facility already supplying over 100 EV and electronics manufacturers. The funds will accelerate global scale-up of its SCC55® silicon anode technology across the U.S., Asia, and Europe.

Fortum Innovation & Venturing has invested EUR €1.4 million in Fifty Energy AB, a Swedish clean energy tech company developing AI-based flexibility software to optimize low-carbon energy supply and demand. The funding will accelerate product development and support expansion into key European markets, with integration planned alongside Fortum’s digital platforms. Fifty’s platform helps utilities and customers balance renewables and electrification volatility, making it a strategic fit for Fortum’s decarbonization and digitalization goals.

Aalo has secured a USD $100 million Series B, led by Valor Equity Partners with backing from investors including Hitachi Ventures, NRG Energy, Tishman Speyer, and MCJ Collective. The funding will support construction of Aalo-X, the company’s first commercial nuclear power plant, targeting zero-power criticality by summer 2026. Unlike a test reactor, Aalo-X will generate electricity and host an adjacent experimental data center, demonstrating a new model for pairing advanced nuclear with AI infrastructure. Aalo ultimately aims to mass-manufacture modular reactors to serve data centers, utilities, and industrial applications worldwide.

The Business Development Bank of Canada (BDC) has committed CAD $200 million to its second Industrial Innovation Venture Fund, backing early-stage Canadian startups building tech for sectors like mining, agriculture, and manufacturing. Fund II expands its scope with a stronger focus on critical minerals technologies, aiming to improve efficiency and competitiveness in industries facing Canada’s productivity gap. The fund will target Series A and later rounds, complementing BDC’s existing climate and growth vehicles, and has already made three investments, including Vancouver-based Apera AI.