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companies raise $99 million; Energy Efficiency companies raise $336 million
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, Storage/Battery and Energy Efficiency sectors for the third quarter of
(VC) funding for smart grid companies came in at $142 million in 26 deals in Q3
2014, compared to $81 million in 13 deals in Q2 2014.
The Top VC funded
companies in Q3 2014 were led by Savant Systems, a home automation solutions
provider, which raised $90 million. ThetaRay, a big data analytics and cyber
security solutions provider whose solutions also include industrial SCADA and
critical manufacturing networks, raised $10 million, Verdigris Technologies, a
provider of cloud analytics software to optimize energy consumption for
buildings, raised $7.7 million, and Origami Energy, provider of a technology
platform for the intelligent active management of distributed energy assets
allowing renewable energy generators, storage providers and energy users to
trade at a micro-grid level, received $5.7 million. Rounding out the Top 5 was
Chargemaster, provider of an electric vehicle charging infrastructure, which
raised $5.1 million.
Twenty-seven investors participated in smart
grid VC funding rounds in Q3 2014, including two accelerators.
Twelve Smart Grid Communication technology
companies raised a combined $104 million and two Data Analytics companies
raised $12 million. One Security company raised $10 million, while three Smart Charging (for Plug-in Hybrid Vehicles (PHEV)) and Vehicle to Grid
raised $8 million. Three Demand Response companies raised $6 million and three
Distributed Generation and Integration companies brought in $2 million.
There were six
Smart Grid M&A transactions (four disclosed) in Q3 2014 totaling $222
million. The top disclosed transactions were the $200 million acquisition of
SmartThings, a provider of an open platform for the smart home and the consumer
Internet of Things, by Samsung Electronics, a multinational electronics
company, followed by the $10 million acquisition of Basset, a provider of revenue management and billing solutions to
telecommunications operators and electric utilities, by Enghouse Systems, a
provider of enterprise software solutions, the $7.5 million acquisition of
Ambient Corporation, a provider of smart grid communications technology for
utilities, by Ericsson, a multinational communications technology and services
provider, and the $4.9 million acquisition of the
grid operations of Echelon, a smart meter manufacturer and control networking
solutions provider for the Industrial Internet of Things, by S&T AG, a
European IT systems provider with a focus on smart energy products and
We have expanded our coverage this year and our Smart Grid funding report
now also includes Storage/Battery and Energy Efficiency sectors.
Companies in the
Battery/Storage space received $99 million in 10 deals, compared to $90 million
in six deals in Q2. Top deals included the $25 million raise by Powin Energy,
followed by the $25 million raise by Aquion Energy, the $18 million brought in
by Eos Energy Storage and the $10 million raise by PowerGenix. There was one
deal each for Sodium-ion, Flow Batteries, Zinc-air, Supercapacitor, Nickel-based
Batteries and Compressed Air Energy Storage in Q3, while Li-ion Battery companies
recorded four deals.
There were also six
debt and public market financing deals in Battery/Storage totaling $219 million
including one Initial Public Offering in
Q3 2014. There were also two storage funds announced to finance no money upfront,
behind-the-meter storage projects.
There were five M&A
transactions in Battery/Storage, of which only one transaction was disclosed
totaling $32 million.
companies raised $336 million in 27 deals in Q3, compared to $113 million in 16
deals in Q2 2014. Top deals included the $83 million that went to Lextar
Electronics, the $80 million raised by Lattice Power, Renovate America’s $50
million raise, the $40 million raise by Avogy and the $20 million raise by
Enlighted. Lighting companies had nine deals; Temperature Control companies had
four deals; Efficient Home/Building, Audit/Retrofit and Software companies had
three deals each; and Finance,
Components, Data Center, Energy Monitors/Dashboard and Appliance companies had
one deal each.
There were five
M&A transactions this quarter in the Efficiency category.