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Battery storage, smart grid, and energy efficiency companies raised $252 million during the first quarter of 2020 (Q1), a 20 per cent increase from the $210 million raised in Q1 2019.
According to a Mercom Capital Group report, “Total corporate funding, including VC, debt, and public market financing, in battery storage was $244 million in nine deals compared to $635 million in 10 deals in Q4 2019. Funding was up 88 per cent year-over-year (YoY) compared to $130 million in nine deals in Q1 2019.”
Venture capital (VC) funding, including private equity and corporate venture capital, raised by battery storage companies in Q1 2020 was $164 million in six deals compared to $78 million in seven deals in Q1 2019. Quarter-over-quarter funding was also higher compared to $126 million in seven deals in Q4 2019
M&A transactions
During Q1 2020, announced debt and public market financing for battery storage technologies was 54 per cent higher YoY compared to $52 million in two deals in Q1 2019. One battery storage project fund of $140 million was also announced in the quarter.
There were four project M&A transactions in the battery storage category in Q1 2020.
Total corporate funding in Smart Grid was at $86 million in nine deals compared to $32 million in 16 deals in Q1 2019, the report stated.
VC funding for Smart Grid companies increased in Q1 2020 with $81 million in seven deals compared to $32 million in 15 deals in Q1 2019.
Besides, $5 million was raised in two debt financing deals in Q1 2020, compared to $28 million in one deal in Q4 2019. In a YoY comparison, $1 million was raised in one debt financing deal in Q1 2019.
In energy efficiency, total corporate funding was at $7 million in three deals compared to $345 million in two deals in Q4 2019. In a YoY comparison, $155 million was raised in two deals in Q1 2019.
In Q1 2020, there were no debt and public market financing deals. By comparison, in Q4 2019, $315 million was raised in one deal. In Q1 2019, there was also one deal for $55 million.
Further, in Q1 2020, there was one M&A transaction for $1.4 billion.
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