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.  

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

This year will be the one when “PV energy storage systems (PVESS) make an enormous leap toward wide-scale adoption”, according to research firm IHS.

Energy storage and battery companies netted US$418 million in funding, while a further US$232 million changed hands in mergers and acquisitions (M&A) of battery or storage companies during 2014, according to a new report from Mercom Capital.