Companies in the battery storage sector attracted US$11.4 billion in corporate funding in the first nine months of 2021, a 363% rise on the same period of last year.
AutoGrid has raised US$83.5 million in funding to scale up its virtual power plant (VPP) platform for distributed energy resources (DER) and Leap has raised US$33.5 million to scale and develop its DER software solution.
Tesla’s ability to offer rooftop solar, electric vehicles and home battery storage in one package could place the company in a strong position as an electricity retailer in Texas.
Energy Vault has become the latest startup with a novel, non-lithium battery energy storage technology to attract significant investment, raising US$100 million through a Series C funding round.
Companies in the battery storage industry raised US$9.6 billion in corporate funding during H1 2021, with European manufacturing startup Northvolt once again the biggest single recipient of venture capital (VC) investment.
TWAICE, a German battery analytics software company founded in 2018 which already counts Audi and Daimler as well as European energy utility companies amongst its customers, has raised US$26 million in a Series B funding round.
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.
Malta Inc, developer of a grid-scale electro-thermal energy storage technology, has closed a Series B funding round, raising US$50 million from investors that include Facebook co-founder Dustin Moskovitz.
