Companies in the battery storage industry raised US$9.6 billion in corporate funding during H1 2021.
This total was a huge leap on the pandemic-depressed first half of 2020, when the figure stood at just US$716 million. Research firm Mercom Capital Group has released its latest report into funding and merger and acquisition (M&A) activity in battery storage, smart grid and energy efficiency.
Mercom publishes the reports on a quarterly basis and it found that battery storage was by far the biggest sector among the three for corporate funding; smart grid companies raised US$471 million in 18 deals, energy efficiency US$348 million from three deals.
The US$9.6 billion of corporate funding into battery storage came from 41 deals. Mercom also noted that nine M&A transactions took place in the sector in the first half of this year, one more deal than in the equivalent period of 2020. About US$5 billion of that total was raised in the first quarter.
source: Mercom Capital Group.