Mercom Capital Group: Battery storage VC funding decreased in Q1, 2017

Battery Storage, Smart Grid and Efficiency Top VC Funded Companies in Q1 2017
Battery Storage, Smart Grid and Efficiency Top VC Funded Companies in Q1 2017

Mercom Capital Group, llc (Austin, TX, U.S.) on April 24th, 2017 released its report on funding and mergers and acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for the first quarter of 2017.

VC funding for Battery Storage companies came to USD 58 million in eight deals this quarter compared to USD 156 million in nine deals in Q4, 2016. YoY funding in Q1 2016 was lower with USD 54 million raised in 10 deals.

 

15 investors participated in Battery Storage funding

The top VC funded Battery Storage companies this quarter were: Primus Power, which raised USD 32 million from Success Dragon, Matador Capital, Anglo American Platinum, DBL Partners, I2BF, and the Russia Kazakhstan Nanotechnology Fund; NRStor received USD 8.4 million in funding from Labourers’ Pension Fund of Central and Eastern Canada (LiUNA) and NRStor founder, Chairman, and CEO Annette Verschuren; Ioxus raised USD 6.5 million in funding; and Faradion raised USD 3.95 million in funding from Mercia Technologies, Finance Yorkshire Seedcorn Fund, and Haldor Topsoe.

Fifteen investors participated in Battery Storage funding this quarter with Flow Battery companies raising the most.

There were two debt and public market financing deals in Battery Storage this quarter totaling USD 22 million compared to USD 55 million in two deals in Q4 2016.

There was one Battery Storage project fund announced in Q1, 2017 for USD 152 million.

There were two Battery Storage project funding deals in Q1, 2017 that raised a combined USD 5 million compared to one deal that was undisclosed in Q4, 2016. There were no Battery Storage project funding deals in Q1 2016.

There was one M&A transaction involving Battery Storage companies in Q1, 2017. In Q4, 2016, there were two M&A transactions. In a YoY comparison, in Q1, 2016 there were two transactions.

 

Smart Grid

Venture capital (VC) funding (including private equity and corporate venture capital) for Smart Grid companies increased threefold in Q1, 2017 with USD 164 million in 14 deals compared to USD 46 million in six deals in Q4, 2016. In a year-over-year (YoY) comparison, in Q1 2016 USD 110 million was raised in 14 deals.

 

Efficiency

Energy Efficiency technology companies increased VC funding to USD 213 million in 14 deals this quarter compared to the USD 170 million in five deals in Q4, 2016 and USD 211 million in 14 deals in Q1 2016.

To get a copy of the report, visit: http://bit.ly/MercomSGQ12017



 

 

 

 

 

 

 

2017-04-25 Courtesy: Mercom Capital Group | solarserver.com © Heindl Server GmbH

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