Investments Went To Battery Storage, Smart Grid, & Efficiency Companies In Q1–Q3 2020

In Clean Fund, Electric Mobility, Renewable Energy, Technology
investments

Mercom Capital has released its 3rd quarter report on investments in the battery storage, smart grid, and energy efficiency sectors that shows billions of dollars flowing into these cleantech portions of the energy market.

  • $3.2 billion investment went into battery storage, smart grid, and energy efficiency companies in the 3rd quarter, up from $1.2 billion in the 2nd quarter.
  • That’s a 777% increase compared to Q3 2019, when companies in these sectors raised $365 million.
  • $4.7 billion was raised in the first three quarters of 2020 in the battery storage, smart grid, and energy efficiency companies, which is up from $2.7 billion in the same period in 2019.
Batteries led the table this time, with Northvolt and QuantumScape being the top two investment raisers, together accounting for $800 million in funding.

VC Funding in Q3 2020 was spread across five categories: Lithium-based Batteries, Sodium-based Batteries, Metal-Hydrogen Batteries, Energy Storage Systems, and Thermal Energy Storage,” Mercom Capital writes.

Smart Grid VC funding in Q3 2020 was $368 million in 11 deals compared to $194 million in 14 deals in Q2 2020. The biggest winner is ChargePoint.

investment

The Funding in Q3 2020 was spread across four Smart Grid technologies: Smart Charging, Distributed Generation and Integration, Smart Grid (SG) Communications, and Data Analytics.

VC funding for Energy Efficiency technology companies increased in Q3 2020, with $48 million raised in four deals compared to $40 million raised in four deals in Q2 2020.

The Top VC funding deal in 2020 was that of Palmetto which raised $29 million.

Reference- Mercom Capital Report, QuantumScape website & PR, Palmetto PR, Clean Technica

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