Energy Storage Sector Sees Corporate Funding Surge to USD 15.4 Billion

Global corporate funding for the energy storage sector surged to USD 15.4 billion in the first half of 2024. This marks a significant increase driven by robust VC, debt, and public market financing. Key sectors attracting investment include lithium-ion-based batteries and battery recycling.

Corporate funding in the global energy storage sector skyrocketed to USD 15.4 billion for the January-July 2024 period, as reported by Mercom Capital.

The surge in investment encompasses Venture Capital (VC) funding, debt financing, and public market financing, highlighting a strong first quarter. The 'Funding and M&A Report for Storage & Grid' revealed a 117 per cent rise over USD 7.1 billion in 59 deals during H1 2023.

VC funding alone accounted for USD 2.4 billion across 48 deals, showing a 37 per cent increase from H1 2023. Lithium-ion-based battery companies led the funding wave, followed by Battery Recycling, Metal-Hydrogen Batteries, and Sodium-based battery companies.