Battery, energy storage cos raise USD 194m in H1 2015

Battery makers and energy storage companies have raised some USD 194 million (EUR 178.7m) in funding during the first half of 2015 compared to USD 282 million a year earlier, Mercom Capital Group LLC said Monday.

In the second quarter (Q2) alone, venture capital financing in the battery and energy storage space has nearly doubled to USD 126 million from USD 69 million in the first quarter of the year, according to the research firm’s latest report. This was accomplished in 13 deals compared to seven agreements in January-March.

Vanadium redox flow batteries manufacturer VionX Energy has raised the most -- USD 58.1 million, followed by multi-wall carbon nanotube products maker Cnano Technology, which bagged USD 15 million. At the same time, behind-the-meter energy storage system supplier Stem has raised USD 12 million and ultra-capacitors developer Skeleton Technologies secured USD 10.7 million, Mercom said.

Meanwhile, sector player Electrovaya bought lithium-ion cells maker Evonik Litarion in the only M&A transaction in the field during the period. The sector’s Q2 debt and public market financing deals totalled USD 69 million.

(USD 1.0 = EUR 0.922)

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