Economy

Battery storage, smart grid, efficiency firms raise $3.2 billion in Q3 2020: Mercom Capital Group

V Rishi Kumar Hyderabad | Updated on October 22, 2020 Published on October 22, 2020

Total corporate funding was at $4.7 billion in first nine months

Corporate funding, including venture capital funding, public market, and debt financing, for battery storage, smart grid, and energy efficiency sectors in Q3 2020 nearly tripled to $3.2 billion compared with $1.2 billion in Q2.

Funding grew multiple times compared to the $365 million raised in 20 deals in the same quarter last year, according to a Mercom Capital Group report.

Despite Covid-19, total corporate funding for the battery storage, smart grid, and energy efficiency sectors in in the nine months was 75 per cent higher with $4.7 billion ($2.7 billion).

Global venture capital funding increased in Q3 to $1.1 billion in 22 deals compared with $605 million in 26 deals in Q2. Funding was higher by 249 per cent YoY ($309 million raised in 17 deals).

Global VC funding for battery storage, smart grid, and efficiency companies in the nine months was slightly down with over $1.9 billion YoY ($2.1 billion). Corporate funding for battery storage companies totalled $3.5 billion in 35 deals, up 62 per cent ($2.2 billion in 32 deals).

Corporate funding in Q3 2020 came to $2.8 billion in 16 deals ($472 million in 10 deals in Q2);VC funding for battery storage companies was up 78 per cent, at $661 million in seven deals ($372 million in 8 deals).

In 9M of 2020, funding was 25 per cent lower at $1.2 billion in 21 deals ($1.6 billion in 25 deals).

Smart grid VC funding in Q3 2020 was $368 million in 11 deals ($194 million in 14 deals in Q2) and $39 million in six deals YoY; and $643 million was raised in 32 deals, up 231 per cent YoY ($194 million raised in 28 deals).

VC funding for energy efficiency technology companies increased in Q3, with $48 million raised in four deals ($40 million raised in four deals in Q2) $61 million in three deals in same quarter in 2019; and in the first nine month period $95 million was raised in 11 deals, 65 per cent lower YoY ($268 million, in eight deals).

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Published on October 22, 2020
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