Energy Storage
Corporate funding for Energy Storage companies in 9M 2024 reached $17.6 billion in 83 deals, a 15% increase year-over-year (YoY) compared to $15.2 billion in 94 deals in 9M 2023.
To get the report, visit: https://mercomcapital.com/product/9m-and-q3-2024-funding-and-ma-report-for-storage-and-grid
Venture capital (VC) funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease YoY compared to $8.6 billion in 68 deals in 9M 2023.
Lithium-based Battery companies received the most VC funding ($778 million) in 9M 2024. Other top funded categories included Battery Recycling, Metal-Hydrogen Batteries, Sodium-based Battery companies, and Materials and Components providers.
The Top 5 Energy Storage VC funding deals in 9M 2024 were: Sila Nanotechnologies, which raised $375 million; EnerVenue Holdings, which raised $308 million; Natron Energy, which raised $189 million; Ascend Elements, which brought in $162 million; and Antora Energy, which raised $150 million.
Announced debt and public market financing for Energy Storage companies in 9M 2024 came to $15 billion in 22 deals, a 125% increase YoY compared to $6.6 billion in 26 deals in 9M 2023.
A total of 18 Energy Storage M&A transactions were announced in 9M 2024, up from 11 M&A transactions in 9M 2023.
The number of project M&A transactions was the same, with 22 transactions in both 9M 2023 and 9M 2024.
Smart Grid
Corporate funding for Smart Grid companies in 9M 2024 totaled $2 billion in 53 deals, 33% lower YoY compared to $3 billion raised in 48 deals in 9M 2023.
VC funding across all Smart Grid companies in 9M 2024 totaled $1.4 billion in 43 deals, 13% higher YoY than the $1.2 billion raised in 37 deals in 9M 2023.
The Top 5 Smart Grid VC funding deals in 9M 2024 were: Electra, which raised $330 million; Powerdot, which raised $108 million; FLO, which raised $100 million; Monta, which raised $87 million; and Battery Smart, which raised $65 million.
Announced debt and public market financing for Smart Grid technology companies totaled $568 million in 10 deals in 9M 2024 compared to $1.7 billion in 11 deals in 9M 2023.
In 9M 2024, there were seven Smart Grid M&A transactions compared to eight transactions in 9M 2023.
