VCs back battery storage but smart grid funding falls

VCs back battery storage but smart grid funding falls

VCs back battery storage but smart grid funding falls Energy Storage Journal


Venture   capitalist   investment   in   the   energy storage  industry  jumped  by  more  than  627%  in  the second   quarter   of   the   year   compared   to   Q1, consultants  Mercom  Capital  Group  found  in  their report released in July.

Investment  rose  to  $422  million  in  10  deals compared  to  $58  million  in  eight  deals  in  Q1,  the clean   energy   consultants   report   on   funding   and mergers and acquisitions activity found.

Although  the  number  of  deals  fell  year-on-year in  the  first  half  of  2017,  the  amount  invested  rose sharply  to  $480  million  in  18  deals,  compared  to $179 million from 20 contracts the year before.

The top VC-funded battery storage companies in Q2  2017  were  Microvast  Power  ($400  million);

Vionx    Energy    ($12.75    million);    and    Moixa Technology ($3.2 million).

The jump meant that $1.03 billion was raised by battery storage, smart grid and efficiency companies the first half  of this  year,  compared to $807 million in H1 2016.

Meanwhile    VC    funding    for    smart    grid companies is falling, according to the report.

Funding in the second quarter of 2017 was down $25   million   from   the   previous   quarter   to   $139 million  (from  eight  deals)  and  down  $83  million YoY (from 15 deals).

In Q2 2017, funding fell to $139 million in eight deals  compared  to  $164  million  in  14  deals  in  Q1 2017.  YoY comparisons show that H1 of 2017 saw a  fall of $27  million to $304 million  from 22 deals, down seven from 1H 2016.

The   top   VC-funded   smart   grid   companies included:  Actility  ($75  million);  ChargePoint  ($43 million   from   Siemens);   FreeWire   Technologies ($7.6 million); and Enervalis ($4.8 million).