Venture Capital Investors Plowed $2.8 Billion into Battery Storage, Smart Grid and Energy Efficiency Companies in 2018
Companies in the battery storage, smart grid and energy efficiency sectors raised a collective total of $2.8 billion in 2018, up a sharp 87 percent from 2017, according to Mercom Capital Group. Venture capital (VC) investors plowed $850 million in 49 deals into battery storage companies last year, up 19 percent from $714 million in 30 deals in 2017, according to Mercom's 2018 Q4 and Annual Funding and M&A Report for Storage, Grid & Efficiency. Total corporate funding for the sector, including debt and public market financing, totaled $1.3 billion last year, up 46 percent year over-year.