- Battery storage companies got about $9.6bn in the first half of the year.
- The increase was boosted by increased financing for battery producers.
According to the latest report by Mercom Capital Group, Battery storage companies globally obtained $9.6 billion (€8.15bn) in the first half of the year from corporate funding, including venture capital (VC) funding, public market and debt financing. This represented a 13-fold increase year on year.
The increase can be tied to recent funding obtained by battery producers. Swedish battery company Northvolt AB raised $2.75 billion to increase its battery cell production capacity, while Sila Nanotechnologies secured $590 million in a Series F round.
According to Mercom, there were nine battery storage mergers and acquisitions in the first half of 2021 compared to eight in the same period last year. In addition, Mercom notes that the total global corporate funding in battery storage, smart grid, and efficiency companies grew by over 593 per cent in H1 2021 to $10.4 billion.