Battery, smart grid, efficiency firms draw $1.7B in 1H19

Battery, smart grid, efficiency firms draw $1.7B in 1H19

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Battery storage, smart grid, and efficiency companies worldwide raised $1.7 billion in the first half of 2019, according to the latest report from Mercom Capital Group, a clean energy communications and consulting firm.

Investments in battery storage, smart grid, and efficiency companies totaled $843 million in the first half of last year.

A total of 41 venture capital (VC) investors participated in battery storage funding between January and June 2019.

VC funding in battery storage companies reached $1.4 billion through 17 deals in the first six months of the year.

That figure was up 139% from the same period of last year, during which companies raised $543 million in 30 deals.

Energy efficiency companies raised $207 million in the first half of 2019, 25% higher compared to $165 million in the first six months of 2018.

A total of 18 VC investors participated in energy efficiency funding in the January-June period of 2019.

Meanwhile, VC funding in smart grid companies in the first half of the year was 11% lower at $120 million compared to $135 million during the same period of 2018.

A total of 48 VC investors participated in smart grid funding in the first six months of 2019.

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