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Corporate funding for energy storage companies, including venture capital (VC), debt, and public market financing, reached $16.7 billion across 120 deals in 9M 2026, a 49% increase compared to $11.2 billion across 85 deals during the same period in 2025. Deal activity increased 41% year-over-year (YoY), reaching the highest nine-month transaction count in the past five years.

VC funding for energy storage companies in 9M 2026 totaled $5.4 billion across 79 deals, representing a 93% YoY increase compared to $2.8 billion raised across 56 deals in 9M 2025.

Energy Storage Downstream companies attracted the most VC funding in 9M 2026, raising approximately $1.8 billion. Other leading categories included Iron-air Batteries, Thermal Energy Storage, Li-based Batteries, Metal-Hydrogen Batteries, and Materials & Components providers.

Announced debt and public market financing for the energy storage sector in 9M 2026 totaled $11.4 billion across 41 deals, a 36% increase compared to $8.4 billion across 29 deals in 9M 2025. Public market financing accounted for approximately $6.7 billion across 20 deals, while debt financing contributed $4.7 billion across 21 deals.

Corporate M&A activity in the energy storage sector increased 35% YoY, with 27 transactions announced in 9M 2026, compared to 20 transactions during the same period in 2025.

Energy storage project acquisition activity increased significantly during the first nine months of 2026, with approximately 21.6 GW of projects acquired across 108 transactions, compared to 10.1 GW across 46 transactions in 9M 2025.

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 energy storage 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 478 companies and investors covered in this report. The report is 70 pages in length and contains 48 charts, graphs and tables.

Mercom’s comprehensive report covers deals of all sizes across the globe. Have questions about the report? Email us here.