Mercom: Project funding for energy storage totalled US$820 million in 2016
Andy Colthorpe for Energy Storage News: Project funding for energy storage jumped to US$820 million in 2016 from just US$30 million in 2015, while Sonnen was revealed as the energy storage company to raise the most VC funding this year.
The latest quarterly report from Mercom Capital on financial activity in battery storage, smart grid and energy efficiency wraps up the results for the entirety of 2016. It found that during the year, energy storage companies raised US$820 million in project funding across seven deals, compared to US$30 million across three deals in 2015.
The majority of this project funding, US$625 million, was raised in the third quarter of the year and included Tabuchi America netting US$300 million for residential work and Advanced Microgrid Solutions with US$200 million of project financing from Macquarie Capital. Cont'd...
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