Click here to download our 1H and Q2 2025 Funding and M&A Executive Summary on Energy Storage.

Corporate funding for energy storage companies in 1H 2025 reached $9.1 billion across 55 deals, a 41% decrease year-over-year(YoY) compared to $15.4 billion in 64 deals in 1H 2024, as policy uncertainties and tariff announcements negatively impacted financing activities.

VC funding for Energy Storage companies in 1H 2025 came to $1.7 billion in 36 deals, a 29% decrease YoY compared to $2.4 billion in 48 deals in 1H 2024.

Energy Storage Downstream companies received the most VC funding in 1H 2025. Other top-funded categories included Materials and Components, Energy Storage Systems, Sodium-based batteries, and Thermal Energy Storage companies.

Announced debt and public market financing for Energy Storage companies in 1H 2025 came to $7.4 billion in 19 deals, a 43% decrease YoY compared to $13 billion in 16 deals in 1H 2024.

In the first half of 2025, there were three M&A transactions in energy storage sector, down from 14 in the first half of 2024.

Meanwhile, the first half of 2025 saw 31 energy storage project M&A transactions, a 138% increase compared to 13 transactions in the same period of 2024.

Mercom Capital Group’s Energy Storage 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;
• 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 172 companies and investors covered in this report. The report is 70 pages in length and contains 46 charts, graphs and tables.