These figures point towards the funds raised in the first nine months of the year. A total of 223 VC investors participated in Battery Storage funding in 9M 2021
The call for green energy and the need to store it seems to be on a roll. A latest report published by the Mercom Capital Group has highlighted that in the first nine months (9M) of 2021, $6.5 billion was raised in VC funding by Battery Storage, Smart Grid, and Efficiency companies. These figures for 9M 2020 stood at $1.9 billion.
A total of 223 VC investors participated in Battery Storage funding in 9M 2021. Battery storage companies were able to raise a record $11.4 billion amount in corporate funding in 9M 2021. The report notes that a total of 73 deals took place in the vertical.
“VC funding in Battery Storage companies in 9M 2021 was up significantly (363%) with $5.5 billion in 59 deals compared to $1.2 billion in 21 deals in 9M 2020. This is the highest ever amount of funding received by Battery Storage companies in a 9M period. Northvolt’s $2.75 billion funding round in Q2 2021 was a big part of the increase,” reads the report.
In 9M 2021, there were 15 Battery Storage M&A transactions compared to 11 transactions in 9M 2020.
VC funding in Smart Grid companies in 9M 2021 was 46 per cent higher with a record $936 million compared to the $643 million raised in 9M 2020. A total of 100 VC investors participated in Smart Grid funding in 9M 2021.
In 9M 2021, there were a total of 17 Smart Grid M&A transactions (one disclosed) compared to 18 transactions (four disclosed) in 9M 2020.
VC funding for Energy Efficiency companies in 9M 2021 was 95 per cent lower with $5 million compared to the $95 million raised in 9M 2020. A total of six VC investors participated in Energy Efficiency funding in 9M 2021.
In 9M 2021, there were two Efficiency M&A transactions ($300 million) compared to four transactions ($1.4 billion) in 9M 2020.