Energy storage funding up 15% in 9M

Meanwhile, venture capital funding for energy storage firms fell.

More capital is being invested in energy storage as corporate funding for such companies increased 15%, reaching $17.6b across 83 deals in the first nine months (9M) of the year.

According to Mercom Capital Group, the funding increased from $15.2b in 94 deals in the same period last year.

Venture capital funding for energy storage companies, however, declined to $2.7b in 61 deals from $8.6b in 68 deals in 9M 2023. 43 VC investors participated in Energy Storage funding this third quarter.

Announced debt and public market financing for Energy Storage companies in 9M 2024 reached $15b in 22 deals, surging by 125% from $6.6b in 26 deals last year.

A total of 18 Energy Storage mergers and acquisitions were announced during the same period, up from 11 transactions a year ago.