Energy storage funding jumps 15% to $17.6 bn in 2024
30 Oct 2024
2 Min Read
CW Team
Corporate funding for energy storage companies reached $17.6 billion across 83 deals in the first nine months of 2024, marking a 15% increase year-over-year, according to a report from Mercom Capital Group. However, venture capital (VC) funding in the sector saw a sharp 69 % decline, amounting to $2.7 billion in 61 deals, down from $8.6 billion across 68 deals in 2023.
Debt and public market financing for energy storage companies surged by 125 %, hitting $15 billion in 22 deals, a significant rise from $6.6 billion in 2023. "Corporate funding trends reflect a clear shift towards debt and public market financing over venture capital in the energy storage space," the report noted. The largest VC funding rounds in energy storage in 2024 included Sila Nanotechnologies, raising $375 million, and EnerVenue Holdings with $308 million. Other top deals were Natron Energy at $189 million, Ascend Elements with $162 million and Antora Energy at $150 million.
In merger and acquisition (M&A) activity, 18 transactions were announced in the energy storage sector, up from 11 last year. Project M&A activity held steady, with 22 transactions each in 2023 and 2024.
In contrast, the Smart Grid sector saw corporate funding drop 33 %, totalling $2 billion across 53 deals, down from $3 billion in 48 deals last year. Smart Grid VC funding rose by 13 %, reaching $1.4 billion across 43 deals. Leading VC deals included Electra鈥檚 $330 million raise, Powerdot鈥檚 $108 million, and FLO鈥檚 $100 million.
Debt and public market financing for Smart Grid technology fell sharply to $568 million in 10 deals, compared to $1.7 billion across 11 deals in 2023. M&A transactions in the Smart Grid sector also saw a slight decline, with seven deals in 2024 compared to eight last year.
Corporate funding for energy storage companies reached $17.6 billion across 83 deals in the first nine months of 2024, marking a 15% increase year-over-year, according to a report from Mercom Capital Group. However, venture capital (VC) funding in the sector saw a sharp 69 % decline, amounting to $2.7 billion in 61 deals, down from $8.6 billion across 68 deals in 2023.
Debt and public market financing for energy storage companies surged by 125 %, hitting $15 billion in 22 deals, a significant rise from $6.6 billion in 2023. Corporate funding trends reflect a clear shift towards debt and public market financing over venture capital in the energy storage space, the report noted. The largest VC funding rounds in energy storage in 2024 included Sila Nanotechnologies, raising $375 million, and EnerVenue Holdings with $308 million. Other top deals were Natron Energy at $189 million, Ascend Elements with $162 million and Antora Energy at $150 million.
In merger and acquisition (M&A) activity, 18 transactions were announced in the energy storage sector, up from 11 last year. Project M&A activity held steady, with 22 transactions each in 2023 and 2024.
In contrast, the Smart Grid sector saw corporate funding drop 33 %, totalling $2 billion across 53 deals, down from $3 billion in 48 deals last year. Smart Grid VC funding rose by 13 %, reaching $1.4 billion across 43 deals. Leading VC deals included Electra鈥檚 $330 million raise, Powerdot鈥檚 $108 million, and FLO鈥檚 $100 million.
Debt and public market financing for Smart Grid technology fell sharply to $568 million in 10 deals, compared to $1.7 billion across 11 deals in 2023. M&A transactions in the Smart Grid sector also saw a slight decline, with seven deals in 2024 compared to eight last year.
Next Story
Reliance, Diehl Advance Pact for Precision-Guided Munitions
Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..
Next Story
Modis Navnirman to Migrate to Main Board, Merge Subsidiary
Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..
Next Story
Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025
The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..
