Click here to download our Annual and Q4 2024 Funding and M&A Executive Summary on Energy Storage and Smart Grid.

Corporate funding for Energy Storage Companies, including venture capital (VC) funding, debt, and public market financing, reached $19.9 billion in 116 deals in 2024, a 5% increase year-over-year (YoY) compared to $19 billion in 120 deals in 2023.

Energy Storage

VC funding in the Energy Storage sector in 2024 decreased 60% YoY, with $3.7 billion in 84 deals compared to $9.2 billion in 86 deals in 2023.

Lithium-ion-based (Li-based) Battery technology companies received the most VC funding in 2024. Other top-funded categories included Materials and Component providers, Iron-air battery providers, Battery Recycling companies, and Metal-Hydrogen Battery companies.

In 2024, 25 Energy Storage companies were acquired, compared to 15 in 2023.

Smart Grid

VC funding in the Smart Grid sector increased 13% YoY with $1.7 billion in 56 deals in 2024 compared to $1.5 billion in 47 deals in 2023.

In 2024, 11 debt and public market financing deals were announced, totaling $718 million, compared to $1.8 billion raised in 13 deals in 2023.

In 2024, there were 10 M&A transactions in the Smart Grid sector, compared to 11 transactions in 2023.

Mercom Capital Group’s Energy Storage and Smart Grid Funding and M&A Reports are comprehensive high-quality reports delivering superior insight, market trends, and analysis. These reports help bring clarity to professionals in the current financial landscape of the smart grid industry.

The Quarterly Funding and M&A Reports contain quarter-over-quarter (QoQ) information on market activity displayed in easy-to-digest charts, graphs and tables, as well as data-driven analysis covering:

• Venture capital funding deals including top investors, QoQ trends, and a breakdown of charts and graphs by stage;
• VC funding by technology;
• Debt and other funding deals;
• Mergers and Acquisitions (M&A) including QoQ trends, with charts and graphs by technologies;
• Battery and storage funding deals;
• Smart Grid funding deals;
• Energy Efficiency funding deals;
• New cleantech funds;

This report also contains comprehensive lists of all announced deals and transactions during the quarter, including:

• VC deals and investors;
• M&A transactions and acquirers;
• New cleantech funds.

There were 264 companies and investors covered in this report. The report is 142 pages in length and contains 108 charts, graphs and tables.