A couple of weeks ago I wrote about the increasing presence of Corporate Venture Capital (CVC) investments in early stage startup fundraising and it seems that Energy Storage has certainly been benefiting from huge Corporate funding so far this year, based on this analysis from Mercom Capital.

The 15.4Bn USD in corporate funding for H1 2024 represents a 117% increase on the same H1 2023 period, across the 64 deals tracked and only just shy of the mega high 2022 levels! It's great to see corporates getting on board to back the clean energy transition as we really need a strong investment mix if we're going to achieve the capacity targets set out by 2030.

Interestingly, there was a 37% decrease in total VC investments in energy storage in H1 2024 compared to H1 2023, totalling 2.4Bn USD. It's felt this way so far from the conversations we're having in the startup / scaleup ecosystem, with VCs more cautious on lower TRL tech companies, instead preferring more mature tech areas like battery recycling, sodium ion, and silicon anodes.

Admittedly, there's a heavy US bias to this analysis but it does show some intriguing trends.

It will be interesting to see how the second half of 2024 plays out in comparison. Will VCs continue to keep their powder dry for now, or will risk appetite grow? Will corporate investment continue to hit these heights again?

What do you think?

Hyperion Executive Search helps post-investment cleantech startups / scaleups to build and grow their senior to executive teams across the world. With 10 years' experience working with prominent VC and CVC investors and their portfolios, we have a strong understanding of  the types of leaders these companies need, where to find them, and how to attract them! 

If you're planning a team build and need expert support, then contact me at david.beeston@hyperionsearch.com