Corporate funding into the battery storage sector in the first quarter of this year totalled US$4.7 billion across 17 deals, a huge leap from the equivalent period of last year, according to a new report from Mercom Capital.
The Canadian federal government is financially supporting the development of a large-scale advanced compressed air energy storage (A-CAES) project capable of providing up to 12 hours of energy storage.
Equity investors have already committed more than US$300 million to lithium battery recycler Li-Cycle’s plan to go publicly-listed through a special purpose acquisition company (SPAC) merger.
Funding secured from its main shareholder group will help vertically-integrated energy storage company Leclanché push forward activities in its stationary storage business, CEO Anil Srivastava has said.
Energy company Total and solar-plus-storage developer 174 Global, a division of Hanwha Group, have formed a joint venture to develop utility-scale solar and storage projects with a total capacity of 1.6GW in the US.
US$47m funding from US Department of Energy for disruptive tech mostly goes to batteries, smart grid
The lion’s share of new funding announced this week to help scale-up potentially disruptive technologies by the Advanced Research Projects Agency - Energy (ARPA-E) of the US government Department of Energy (DOE) will go to battery and smart grid technologies.
A project which will combine and then assess four different types of non-lithium technologies for long-durations of energy storage has been awarded a grant by the California Energy Commission (CEC).
Long-duration energy storage startup Form Energy has confirmed details of its recently reported Series C investment round, with Bill Gates’ Breakthrough Energy Ventures among continuing investors.
UK energy storage solutions provider Zenobe Energy is targeting an additional 500MWh of storage and 1,000 electric buses following a £150 million (US$198.94 million) investment the infrastructure equity investment arm of investment manager M&G.
While lithium-ion continues to dominate big project announcements worldwide, three providers of long-duration non-lithium battery technologies have claimed various milestones in commercialisation.
Germany company Voltstorage, claiming to be the only developer and maker of home solar energy storage systems using vanadium flow batteries, raised €6 million (US$7.1 million) in July.
Lithium battery cells will be rolling off a production line at a 16GWh-capacity factory in France in 2023, with manufacturing startup Verkor then planning to scale up to 50GWh “in line with market dynamics”.
Mercom: Corporate, VC funding in battery storage dropped back down to pre-pandemic levels in H1 2020
Funding into battery storage companies fell dramatically in the first half of 2020 compared to last year’s equivalent period, according to the latest reporting from Mercom Capital.
While the renewable energy industry has suffered significant blows such as loss of employment during the COVID-19 crisis, venture capital (VC) funding into the battery energy storage sector in the first quarter of this year nonetheless saw a significant increase over the previous year’s equivalent period.
In the past couple of weeks, national and state government organisations in Australia have announced various stages of development for solar projects with a range of advanced and innovative storage solutions attached.
Europe approves US$3.5bn for R&D in major push to create sustainable battery manufacturing ecosystem
European Commission greenlights €3.2bn research plan by seven major states to turn continent into global battery hub even as it signals it is ready to block imports on environmental grounds.
UK battery storage firm Zenobe has secured £25 million (US$32.93 million) in funding from Santander as it looks to continue its growth.
The UK pledges US$250 million for global energy storage as France and the Netherlands announce US$100 million for solar initiatives.
A £55 million (US$67.8 million) fund has been earmarked for five projects in the UK looking at developing the next generation of battery storage technology.
BBOXX has successfully closed a US$50 million Series D funding round that will see the next generation utility company accelerate its global expansion efforts.
Northvolt, the consortium looking to establish gigawatt-scale lithium battery manufacturing in Europe and Sila Nanotechnologies, a battery technology startup, were the recipients of the highest sums of venture capital (VC) funding in the first half of 2019 in the battery storage sector.
World Bank Group has set up a “global international partnership” to support the deployment of energy storage in developing countries, just a few months after committing a US$1 billion sum to the sector.
'Own and operate' model creates option of a ‘one-stop’ solution for customers in exchange for a pence per-mile service fee or fixed monthly charge.
Energy storage firm redT has landed more than £3 million (US$3.92 million) from an open share offer, effectively securing its immediate future.
The capabilities of virtual power plants (VPPs) to provide capacity as well as frequency regulation services to the grid in Australia will be demonstrated through a new integration trial.
The development of systems capable of storing over six hours of energy economically is being supported in New York with an Innovation Challenge launched by the New York Power Authority (NYPA) and Urban Future Lab, a cleantech innovation centre.
In today’s third and final instalment of our series to welcome in 2019, we look at what our respondents are expecting to see this year, what they would like to see happen and some of the ways they will be trying to fulfil those expectations.
In order to address intermittency in its grid, the South Australian Government has introduced a AU$50 million (US$36 million) Grid Scale Storage Fund (GSSF) to help accelerate the deployment of new large energy storage projects, including pumped hydro, hydrogen, gas storage, solar thermal, bioenergy and battery storage.
A 30MW / 30MWh battery energy storage system has been inaugurated with a ceremony in Victoria, Australia, with one project partner describing the switching-on as “a real watershed moment in the continuing modernisation” of the state’s energy supply.
Investment management firm Gresham House is to float an energy storage fund on the London Stock Exchange next month, with an aim to raise £200 million to fund 262MW of energy storage projects over the next year.