The Abu Dhabi sovereign investor Mubadala Investment Company has announced a strategic investment in UK-headquartered battery energy storage and EV fleet solutions provider Zenobē.

California-based Element Energy has raised US$111 million of equity and debt for its proprietary battery management system (BMS) for first and second life battery storage.

UK-headquartered developer-investor Zenobē Energy and US recycling specialist Redwood Materials made the biggest VC-funded deals for energy storage companies in the first nine months of 2023.

Sodium-ion battery technology firm Peak Energy has emerged from stealth, with US$10 million in funding and a management team comprising ex-Northvolt, Tesla, Enovix and SunPower executives.

California-based FranklinWH Energy Storage has secured a US$25 million Series B to scale up its residential battery and energy management software offering in the US and Puerto Rico.

ACCURE has raised €7.2 million for its analytics solutions that can enable a “proactive approach to safety” in the battery storage industry.  

Germany-based flow battery company VoltStorage has been granted a venture debt loan of €30 million (US$33 million) by the European Investment Bank (EIB), guaranteed by the European Commission.

Corporate funding into battery storage companies rebounded in Q2, but remains lower than in 2022 or 2021 so far.

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.  

News in brief from around the word in energy storage with another edition of the Energy-Storage.news roundup.