Funding into Battery Storage companies was up in the first nine months of 2019
Austin, Texas – Mercom Capital Group, LLC, a global clean energy communications and consulting firm, released its report on funding and mergers and acquisitions (M&A) activity for the global Battery Storage, Smart Grid, and Energy Efficiency sectors for the third quarter (Q3) and first nine months (9M) of 2019.
Get a copy of the report: https://mercomcapital.com/product/9m-and-q3-2019-funding-and-ma-report-for-storage-grid-efficiency
Global VC funding (venture capital, private equity, and corporate venture capital) for Battery Storage, Smart Grid, and Efficiency companies in 9M 2019 was 54% higher with over $2 billion compared to $1.3 billion raised in 9M 2018.
Total corporate funding (including venture capital funding, public market, and debt financing) for the Battery Storage, Smart Grid, and Energy Efficiency sectors in 9M 2019 was down with $2.7 billion compared to $3.3 billion in 9M 2018.
VC funding for Battery Storage companies in 9M 2019 was up 104% with $1.6 billion in 25 deals compared to the $783 million in 38 deals in 9M 2018. The increase was primarily due to Northvolt’s $1 billion funding round in Q2 2019.
The Top 5 VC funding deals in 9M 2019: Northvolt raised $1 billion, Sila Nanotechnologies raised $170 million, Energy Vault raised $110 million, Romeo Power secured $89 million, and Form Energy raised $40 million. A total of 60 VC investors participated in Battery Storage funding in 9M 2019.
Announced debt and public market financing activity in the first nine months of 2019 ($560 million in seven deals) was 24% higher compared to the first nine months of 2018 when $450 million was raised in nine deals.
There were a total of 10 (two disclosed) Battery Storage M&A transactions both in 9M 2019 and 9M 2018 each.
In the first nine months of 2019, there were eight project M&A transactions (two disclosed) compared to seven undisclosed transactions in 9M 2018.
VC funding in Smart Grid companies in 9M 2019 was 27% lower with $194 million compared to $264 million in 9M 2018.
The Top 5 VC funding deals in 9M 2019: eSmart Systems raised $34 million, SmartRent raised $32 million, CleanSpark raised $20 million, Volta Charging raised $20 million, and Innowatts received $18 million. A total of 63 VC investors participated in Smart Grid funding in 9M 2019.
Announced debt and public market financing for Smart Grid companies came to $45 million in two deals in 9M 2019 compared to $1.3 billion in three deals in 9M 2018.
In 9M 2019, there were a total of 23 Smart Grid M&A transactions (one disclosed), compared to nine deals (all undisclosed) in 9M 2018.
VC funding for Energy Efficiency companies in 9M 2019 was flat with $268 million compared to the $265 million raised in 9M 2018.
The Top 5 VC funding deals in 9M 2019 were: Kinestral Technologies raised $100 million, Budderfly raised $55 million, Cimcon Lighting raised $33 million, Carbon Lighthouse secured $33 million, and 75F received $18 million. A total of 33 VC investors participated in Energy Efficiency funding in 9M 2019.
Announced debt and public market financing activity in the first nine months of 2019 ($56 million in two deals) was 74% lower compared to 9M 2018 when $212 million went into two deals.
In 9M 2019, there were a total of nine Efficiency M&A transactions (two disclosed), compared to three transactions (all undisclosed) in 9M 2018.
To get a copy of the report, visit: https://mercomcapital.com/product/9m-and-q3-2019-funding-and-ma-report-for-storage-grid-efficiency
About Mercom Capital Group
Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence and funding and M&A reports covering Battery Storage, Smart Grid and Energy Efficiency, and Solar, and advises companies on new market entry, custom market intelligence and strategic decision-making. Mercom’s communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners. About Mercom: http://www.mercomcapital.com. Mercom’s clean energy reports: http://store.mercom.mercomcapital.com/page/.
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