Venture capital funding for energy storage, efficiency and smart grid projects rose for the first three quarters of this year, even if overall corporate funding fell by 11 percent, according to Mercom Capital Group’s nine-month market report.
The overall funding—which includes venture capital, public market and debt financing—raised $3.3 billion for battery, smart grid and efficiency deals for the period January through September. This is an 11 percent drop from the $3.7 billion raised in the same period of 2017.
Global venture capital alone, however, topped $1.3 billion. This is close to $100 million higher than for the first nine months last year.
Some publicly announced storage-sector mergers became known just after the fourth quarter began. NantEnergy is buying the energy storage and management solutions business of Sharp Electronics Corp.
In October, energy storage startup Volta announced it was investing in battery developer Solid Power. Duke Energy also revealed plans to invest about $500 million in energy storage projects in the Carolinas.
Energy Storage will be the subject both of sessions upstairs and the Knowledge Hubs on the exhibit floor at POWER-GEN International happening December 4-6 in Orlando. Integrating large-scale battery technology into the electric grid is the subject of at least 12 sessions at POWER-GEN.
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