Q1 2023 Funding and M&A Report for Storage and Grid

Q1 2023 Funding and M&A Report for Storage and Grid


Corporate funding for energy storage companies

totaled $2.2 billion in Q1 2023

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Click here to download our Q1 2023 Funding and M&A Executive Summary on Energy Storage and Smart Grid.

Energy Storage

VC funding (including private equity and corporate venture capital) raised by Energy Storage companies in Q1 2023 came to $1.1 billion in 19 deals, an 8% decrease year-over-year (YoY) compared to $1.2 billion in 22 deals in Q1 2022. Quarter-over-quarter (QoQ) funding was 35% lower compared to $1.7 billion in 22 deals in Q4 2022.

Energy Storage Top 5 VC Funded Deals in Q1 2023

Ninety-nine VC investors participated in Battery Storage funding this quarter.

Four M&A transactions were recorded in Energy Storage in Q1 2023. In Q4 2022, there were five M&A transactions. YoY, there were five Energy Storage M&A transactions in Q1 2022.

Smart Grid

There was a 66% decrease QoQ for Smart Grid VC funding in Q1 2023, with $280 million raised in 14 deals compared to $846 million in 15 deals in Q4 2022. In a YoY comparison, funding in Q1 2023 was 14% lower compared to Q1 2022, when $327 million was raised in 13 deals.

Smart Grid Top 5 VC Funded Deals in Q1 2023

Sixty investors participated in VC funding this quarter.

In Q1 2023, there were four M&A transactions compared to two transactions in Q4 2022. In a YoY comparison, there were three transactions in Q1 2022.

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 207 companies and investors covered in this report. The report is 88 pages in length and contains 87 charts, graphs and tables.