Energy storage companies have attracted funding over a billion dollars for seven years since 2009. 2014 recorded the highest funding activity for the sector ($2.3B, 133 rounds), while $1.2B has been invested over 69 rounds to date this year. Overall, 279 energy storage companies were funded in the last five years.
Notable large funding rounds this year went to Alevo – the grid scale energy storage solution provider secured a $700M PE round in March. Santa Clara-based Green Charge Networks raised a $50M debt funding round, and Campbell-based ChargePoint raised a $50M Series F round.
There have been six acquisitions in this space in 2016 – the largest disclosed deal among them was in May, when Saft Batteries was acquired by Total for $1.1B.
The Department of Energy (Green Charge, Fluidic Energy), Khosla Ventures (Ambri, Sakti3), Intel Capital (Lucid, Lilliputian Systems), and KPCB (Bloom Energy, Aquion) are some of the most active investors in this space.
Battery manufacturers and developers (A123 Systems, Boston Power), energy storage system manufacturers (Invenergy, Alevo), and fuel cell developers and designers (Intelligent Energy, Bloom Energy) were the top destinations for funding by business model. Other business models covered in the report are charging solutions (Gogoro, ChargePoint), component developers (Younicos, Nexeon), and battery management solutions (Greensmith Energy, Lucid).
Tracxn’s energy storage report covers technology and solution providers developing new battery chemistry and manufacturing batteries using existing proven technologies. Battery management and charging solution providers such as chargers, battery banks and charging infrastructures developers have also been included in the report. Preview the report below.
