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.

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.

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.