Mercom Capital report on VC funding: Battery/Storage companies raise USD 69 million in Q1, 2015

Standard battery “building block” for electric vehicles by Boston Power. The company raised USD 20 million in Q1, 2015
Standard battery “building block” for electric vehicles by Boston Power. The company raised USD 20 million in Q1, 2015

Mercom Capital Group (Austin, TX, US) on April 20th, 2015 released its report on funding and mergers and acquisitions (M&A) activity for the smart grid, battery/storage and energy efficiency sectors for the first quarter of 2015.

VC funding for battery/storage companies came to USD 69 million in seven deals, compared to USD 47 million in seven deals in Q4, 2014. The top deals include the USD 20 million raised by Boston Power, a manufacturer of lithium-ion batteries for electric vehicles and stationary energy storage, and the USD 20 million raised by Sakti3, a developer of solid-state rechargeable lithium-ion battery technology.

Eos Energy Storage, a developer and manufacturer of zinc hybrid cathode energy storage solutions for electric utilities, raised USD 15 million. TAS Energy, an energy storage solutions provider that combines turbine chilling with thermal energy storage tanks, raised USD 10 million, and ZAF Energy Systems, a developer of nickel-zinc and zinc-air battery technologies, raised USD 2.2 million.

There was just one debt and public market financing deal announced for Battery/Storage technology, the USD 130 million raised by Bloom Energy, a manufacturer of solid oxide fuel cell technology products.

There were five M&A transactions in the Battery/Storage category, of which only two disclosed funding amounts totaling USD 2.3 billion.

 

Smart Grid funding tripled

Venture Capital (VC) funding in the Smart Grid sector in Q1, 2015 came in at USD 185 million in 15 deals, compared to USD 59 million in 13 deals in Q4, 2014. There were four early stage deals, including three Series A and one seed funding deal in Q1.

 

Energy efficiency funding down

VC funding for the Efficiency sector came to USD 140 million in 15 deals, compared to USD 192 million in 25 deals in the previous quarter.

For a copy of the report, visit: store.mercomcapital.com

 

2015-04-22 | Courtesy: Mercom Capital Group | solarserver.com © Heindl Server GmbH

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