Investment in the battery energy storage, smart grid and energy efficiency sectors has topped $1bn in the first nine months of this year, new analysis has found.
In its quarterly global funding and M&A reportfor the three sectors, released this week, clean energy consultancy Mercom Capital found that the $1.23bn raised by battery storage, smart grid and energy efficiency firms this year beat the $910m raised in the first nine months of 2016.
Battery energy storage companies raised $563m in 25 venture capital (VC) funding deals during the analysis period, a significant increase on the $209m raised in 29 deals last year. The top fundraiser was US-based Advanced Microgrid Solutions, which raised $34m.
In Q3 2017, funding for battery energy storage was spread across seven sub-technology categories: energy storage downstream, energy storage systems, lead-based batteries, lithium-based batteries, energy storage management software, thermal energy storage and zinc-air batteries.
Smart grid firms raised $380m in 36 VC funding deals, slightly up on the $343m raised in the same number of deals last year. The top-funded company was Californian internet-of-things outfit Particle, which won $20m.
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07 September 2018
17 September 2018