Company valuations and developer premiums for project sales have come down in the UK market amidst rising financing costs and plummeting revenues.

Polarium, a Swedish manufacturer of lithium-ion based battery energy storage systems (BESS) technology, has been valued at over a billion dollars.

Fluence’s initial public offering (IPO) raised just under a billion dollars, with all available shares of the energy storage company’s Class A common stock snapped up as they listed on the Nasdaq Global Select Market.