Portland General Electric has procured 400MW of BESS resources split across two large-scale projects in the Oregon utility’s service area.

Corporate funding activity into battery storage companies in the first quarter of 2023 fell considerably year-on-year and quarter-on-quarter, according to research from Mercom Capital.  

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

More corporate funding went into energy storage companies in the first nine months of 2022 than in the entirety of last year.

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.