Battery/Storage companies raise $194 million;
Energy Efficiency companies raise $351 million
For a copy of the report, visit: http://bit.ly/MercomSGQ22015
Group, llc, a global clean energy communications and consulting firm, released
its report on funding and mergers and acquisitions (M&A) activity for the
Smart Grid, Battery/Storage and Energy Efficiency sectors for the second
quarter of 2015.
(VC) funding (including private equity) for Smart Grid companies was down with $104
million in 18 deals in Q2 2015, compared to $185 million in 15 deals in Q1
2015. Smart Grid companies have now
raised $289 million in the first half of this year compared to $183 million raised
in the same period in 2014.
The Top VC funded
company in Q2 2015 was Actility, a provider of smart energy management, demand
response, machine-to-machine and internet of things (IoT), which raised $25
million. Other top deals were Smart Wires, a grid optimization solutions provider, which raised
$17.3 million; Bit Stew Systems, a provider of data analytics and integration
solutions for the utility industry, raised $17.2 million; and DataTorrent, a
developer of a real-time stream analytics platform for smart grid, utilities
and other industries received $15 million. Rounding out the Top 5 was Itineris,
a provider of customer care and business process outsourcing solutions for the
utility industry, which raised $10 million.
Thirty-seven investors participated in smart grid VC funding
rounds in Q2 2015, including two accelerators. Within Smart Grid, Data
Analytics companies raised the most funding. GE Ventures was the only investor
participating in multiple deals this quarter with two.
There was one IPO this quarter: Alarm.com, a provider of cloud
based services for home automation, energy management solutions, and monitoring
services, raised $98 million through its IPO in June 2015. The shares are
listed on the NASDAQ.
There were three Smart Grid M&A transactions in Q2 2015
totaling $15 million. The only disclosed M&A transaction was the
acquisition of t-mac Technologies, an energy management systems provider, by
Utilitywise, an energy and water cost management company.
Companies in the Battery/Storage space received $126 million in VC
funding in 13 deals, significantly higher compared to $69 million in seven
deals in Q1 2015. Battery/Storage companies raised $194
million in the first half of 2015 compared to $282 million raised
in the first half of 2014.
Top Battery/Storage deals
included the $58.1 million raise by VionX Energy, a manufacturer of vanadium
redox flow batteries; followed by Cnano Technology, a manufacturer and
developer of multi-wall
carbon nanotube products for the energy storage, structural and electronics
industries, which raised $15 million. Stem, a provider of behind-the-meter
energy storage systems, raised $12 million; Skeleton Technologies, a developer
and manufacturer of ultra-capacitors, raised $10.7 million; and Advanced
MicroGrid Solutions, a company that designs, finances, installs and manages
advanced energy storage solutions for commercial, industrial and government
building owners, received $8.8 million.
There were 24 investors who participated in
VC funding rounds this quarter. Within Battery/Storage, Flow Battery companies
raised the most funding.
There were seven debt and public market
financing deals in the Battery/Storage category totaling $69 million in Q2
There was one M&A transaction in
Battery/Storage; Electrovaya, a manufacturer of portable lithium-ion battery
power solutions acquired Evonik Litarion, a manufacturer of lithium-ion cells,
for an undisclosed amount.
Energy Efficiency companies received $211
million in VC funding in 18 deals in Q2 2015, which was up compared to $140
million in 15 deals in the last quarter. Efficiency
companies have brought in $351 million in the first half of 2015 compared to $269 million in the same period last year.
Top Efficiency deals included the $70 million
raise by Transphorm, a developer of efficient power conversion devices; followed by Aledia,
a developer and manufacturer of 3D LEDs, which raised $31 million; and
FirstFuel Software, a developer of a building analytics platform to enable and
track energy efficiency in commercial buildings, which received $23 million.
eVolution Networks, an energy consumption solution provider for mobile network
operators, raised $22.5 million, and GaN Systems, a developer and manufacturer
of gallium nitride transistors for efficient power conversion in solar, wind,
smart-grid, electric and hybrid vehicles, and power supply applications, raised
There were 42 investors who participated in
VC funding rounds, of which four companies participated in two deals each: BDC
Capital, E.ON, RockPort Capital and CEA Investissement.
There were five debt and public market
financing deals in the Efficiency category for $355 million this quarter
compared to $183 million in three deals in Q1 2015. The largest deal was the
$240 million raised by Renovate America, a provider of residential Property
Assessed Clean Energy (PACE) financing in the U.S. for energy efficiency
solutions through the issuance of bonds.
There were ten M&A transactions (four disclosed)
for $301 million this quarter in the Efficiency category. The largest disclosed
deal this quarter was the $263 million acquisition of a 59 percent stake in
Lattice Power, an LED manufacturer, by Shunfeng International Clean Energy, a
solar project developer.
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 Smart
Grid, Solar, and Wind 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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