Noon Energy, developer of a novel carbon-oxygen battery for long-duration storage, has raised US$28 million in a Series A funding round.

Corporate funding of energy storage companies exceeded US$26 billion worldwide in 2022, a 55% jump from 2021’s total US$17 billion.

In the first half of this year, energy storage companies raised almost as much corporate funding as in the whole of 2021.

Hydrostor waits to hear if one of its proposed large-scale projects in California will get approved to supply electricity.

Battery storage companies raised US$17 billion in corporate funding in 2021 but have raised US$12.9 billion already this year. 

Northvolt intends to build its third gigafactory in Schleswig-Holstein, Germany.

Battery storage companies raised 159% more corporate funding in 2021 than in 2020, with funding activity reflecting the “significance of battery energy storage in the energy transition,” analysis group Mercom Capital has said. 

Companies in the battery storage sector attracted US$11.4 billion in corporate funding in the first nine months of 2021, a 363% rise on the same period of last year. 

Companies in the battery storage industry raised US$9.6 billion in corporate funding during H1 2021, with European manufacturing startup Northvolt once again the biggest single recipient of venture capital (VC) investment.