Total corporate funding (including venture capital funding, public market, and debt financing) for the battery storage, smart grid, and energy efficiency sectors in 2020 was up by 112 percent, with $8.1 billion compared to $3.8 billion in 2019, according to Mercom Capital Group, a global clean energy research and communications firm.
Total corporate funding in the battery storage sector was up 136 percent with $6.6 billion in 54 deals in 2020. However, venture capital funding for battery companies totaled $1.5 billion in 32 deals compared to $1.7 billion raised in 32 deals in 2019.
Lithium-ion based battery technology companies received the most VC funding in 2020, with $649 million. Other categories that received funding included solid-state batteries, energy storage downstream, energy storage systems, and flow batteries.
There were 19 M&A transactions in the battery storage category in 2020.
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