Market developments
BYD details UK rollout for FLASH ultra-fast charging network
BYD has confirmed pricing and deployment plans for its UK FLASH Charging network, with the first site expected to open within weeks and a target of 300 chargers installed over the next 12 months. The network will operate on a per‑kWh pricing model, with preferential rates for BYD and DENZA vehicles equipped with FLASH Charging technology. Open to all CCS2-compatible EVs, the sites will support payment through Plug & Charge, the BYD app, contactless cards and RFID roaming. Each charger will be paired with 370kWh of battery storage, with some locations also incorporating solar generation. BYD claims its system can deliver a 10–70% charge in five minutes under suitable conditions.
Orange EV secures $100m facility to support fleet electrification growth
Orange EV has secured a $100m senior-secured revolving credit facility led by Wells Fargo Bank to support expansion of its electric truck and charging infrastructure businesses. The funding will provide working capital and support growth of both OptiGrid and the company’s rental and leasing operations. Orange EV, which manufactures electric Class 8 terminal trucks for ports, logistics centers and rail yards, has tripled production over the past year and expects its vehicles to account for roughly one in four new yard trucks purchased or leased this year. OptiGrid’s battery-integrated charging systems are designed to reduce deployment timelines from months or years to days or weeks.
Industrial solar demand drives growth opportunities in India
India’s commercial and industrial solar market is expected to grow by at least 15% annually over the next decade as businesses seek to reduce energy costs and lower emissions. Large commercial and industrial users account for nearly half of the country’s electricity consumption, yet renewable energy currently supplies only around one-quarter of their power demand. Developers such as Corrit Energy & Infra are positioning for expansion, with 250MW of projects under execution, plans to install at least 500MW next year and a long‑term target of 2.5GW by 2030. Policy support is also increasing, with industries encouraged to source 43% of electricity from clean energy by 2030.
Infrastructure & policy
Tesla explores $10.1bn solar manufacturing campus in Texas
Tesla is proposing a $10.1bn solar manufacturing complex in Fort Bend County, Texas, under the codename Project Crystal Sun. Subject to approvals and incentive agreements, the 3,050‑acre site could become the largest single-site solar manufacturing facility in the United States. Construction is expected to run from 2026 to 2028, with commercial production targeted for early 2029. The project would create an estimated 9,712 permanent jobs and more than 1,100 construction roles. Plans call for a fully integrated production process covering silicon ingots, wafers, cells, metallization, testing and final solar module assembly, reinforcing domestic manufacturing capacity and solar supply chains.
Deals
Princeton Critical Minerals raises $16m for lithium extraction technology
Princeton Critical Minerals (PCM), a Princeton University spin-out, has raised $16m through a combination of Series A funding and grants to accelerate commercialization of its lithium extraction platform. The package includes $11m in equity financing led by SOSV HAX and $5m in federal and state grants. PCM plans to use the capital to expand US manufacturing, automate production and grow deployments in South American salt flats. Its technology portfolio includes the solar-powered Lilypad™ evaporation system, the SmartPond optimization platform and E‑LiTE modular extraction technology, all aimed at improving lithium recovery efficiency while reducing environmental impacts.
Time Finance agrees £55.1m takeover by Bentley Park
Time Finance has agreed to a recommended £55.1m cash acquisition by Bentley Park (UK), parent company of specialist lender Ultimate Finance. Under the terms of the deal, shareholders will receive 59.1p per share, representing a premium to recent trading levels. The transaction will combine two established SME lenders, creating an alternative finance provider with a combined net loan book of nearly £650m. The enlarged group will offer asset finance, invoice finance, business loans and asset‑based lending products. The deal has secured backing from directors and major shareholders representing approximately 47% of Time Finance’s share capital and is expected to complete in Q4 2026.
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