- Battery storage companies secured USD 11.4 billion in corporate funding in the first nine months of 2021.
- A total of 223 investors took part in VC funding in the battery storage sector in January-September.
According to a report by Mercom Capital Group, battery storage companies worldwide secured USD 11.4 billion (EUR 9.8bn) in total corporate funding in the first nine months of 2021, achieving an all-time high.
The total achieved in 73 deals was 244 per cent higher than the figure from the year-ago period when only USD 3.5 billion was raised in 35 deals during the spread of the COVID-19 pandemic.
Venture capital (VC) funding for battery storage companies amounted to a record-high of USD 5.9 billion, coming from 59 deals. This compares to just USD 1.2 billion in 21 deals a year back. The increase is mainly due to Swedish battery company Northvolt AB raising USD 2.75 billion in a private placement to build more battery cell production capacity. In addition, Sila Nanotechnologies secured USD 590 million in a Series F round.
A total of 223 investors took part in VC funding in the battery storage sector in January – September.