Funding in the clean energy sector really is fascinating to watch, not just because our clients are often the ones receiving the investment (we love working with start up and fast growth companies). The latest being Skeleton Technologies, for whom we're recruiting a VP of Global Sales, and other roles.
In this latest Mercom report overall activity is down, but some pretty exciting investments are still happening, on both sides of the Atlantic.
Venture capital funding was spread over six separate sub-technologies — supercapacitor, lithium-based batteries, energy storage management software, energy storage systems, thermal energy storage, and flow batteries. Meanwhile, a total of 22 investors participated in funding for the sector, while debt and public market financing for the sector totaled $51.6 million over three deals. The good news is that it was a record quarter for battery storage residential and commercial project funds, which collectively raised $625 million over four deals, compared to only $175 million in two deals in the previous quarter. The largest deal went to Tabuchi America, which raised $300 million in project financing for residential solar-plus-storage installations. The largest commercial project went to Advanced Microgrid Solutions, which secured $200 million in funding from Macquarie Capital.