By Battery Power Online Staff
February 24, 2026 | This month, solar and wind farms expansions, AI helping with electricity costs, and more.
75M: Series B for AI to Cut Down Electricity Prices
Tem has closed an oversubscribed $75 million Series B funding. As AI data centers drive up electricity prices, Tem is using AI to solve this issue. The company built an energy transaction engine that relies on AI to cut prices relative to other energy traders. The company has signed up more than 2,600 business customers throughout the U.K. on the promise that buying energy from its utility division can save them up to 30% on their energy bills. Tem is a classic marketplace play, matching electricity generators with consumers. The company intentionally started by focusing almost exclusively on renewable energy generators and small businesses to fill both sides of the ledger. Press release.
$27M: Financing for EV Fleet Operators Expansion
Mitra EV announced a $27 million financing. The financing supports Mitra’s expansion as fleet operators increasingly seek solutions that deliver immediate returns amid tightening capital markets and recent industry-wide pullbacks on electric vehicles. Commercial electric vehicles are already economical for a growing set of use cases, even without federal tax credits. For many fleet operators, however, the challenge is whether they have the time, expertise, and resources to evaluate their fleets and navigate the complexity of vehicles, charging, incentives, and financing. Mitra EV has a solution with a fully managed electrification model that serves SMBs as well as larger fleets. By combining no-upfront-cost EV leasing of vehicles from top-tier OEMs including GM, Ford, and Mercedes-Benz, dedicated overnight charging, and access to a growing network of shared DC fast-charging hubs, Mitra EV delivers immediate reductions of up to 75% in operating costs, driven primarily by lower fueling costs and reduced maintenance. Press release.
$23.5M: Series A and Financing for Developing Disassembly Technology for EV Systems
R3 Robotics announced a $16.5 million Series A and a $7 million financing in European grants to scale automated disassembly of electric vehicle systems. R3 Robotics will use the new funding to expand its engineering, AI, software, and operations teams and further develop its automated disassembly technology. The company plans to increase capacity at its Karlsruhe and Luxembourg facilities, scale deployments with industrial recyclers and automotive partners across Europe, and prepare for U.S. market entry in 2026 through strategic partnerships. Press release.
$12.9M: Series A for Wind and Solar Farms
Capalo AI announced a $12.9 million Series A funding round to accelerate the rollout of its AI-powered virtual power plant across Europe and scale the optimization and trading of battery energy storage systems. With the funds, Capalo AI plans to accelerate its international expansion and scaling of optimization and trading of battery energy storage systems, both stand-alone and co-located with wind or solar farms. Capalo AI connects large-scale batteries and renewable energy production from multiple locations into a single virtual power plant, using highly accurate forecasting and advanced AI models to optimize and trade energy storage across electricity markets in real time, balancing supply and demand while maximizing asset value for investors. Press release.
