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.
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.
