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Total corp funding in battery storage jumps 46% y/y in 2018

The official operning of Sonnen's Adelaide factory. Source: Twitter @marshall_steven

January 22 (Renewables Now) - Battery storage companies have secured USD 1.3 billion (EUR 1.14bn) in total corporate funding in 2018, including debt and public market financing, statistics by Mercom Capital Group LLC show.

This compares to USD 890 million in total corporate funding from a year earlier, Mercom said.

Venture capital (VC) funding rose by 19% year-on-year to USD 850 million in 49 dales from USD 714 million in 30 deals. QuantumScape got the most -- USD 100 million, while Stem raised USD 80 million, Sonnen secured USD 71 million, Sila Nanotechnologies received USD 70 million and Ionic Materials bagged USD 65 million. A total of 73 VC investors took part in such deals last year, compared to 86 in 2017.

The announced debt and public market financing in the battery storage field went up to USD 490 million from USD 177 million. In 2018, however, the total sum was raised in fewer deals -- 11 compared to 12 in 2017. California-based fuel cell company Bloom Energy Corp (NYSE:BE) carried out a USD-270-million initial public offering (IPO) that ended up being the largest public market financing deal in 2018.

There were three battery storage project funds in each of 2018 and 2017, but last year the total sum they raised was lower -- USD 352 million compared to USD 446 million in 2017.

In 2018 there were 11 battery storage project funding deals with a total value of USD 434 million and 16 merger and acquisition (M&A) transactions, with just three of them disclosing an amount. This compares to three M&A transactions in 2017.

(USD 1.0 = EUR 0.880)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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