Energy storage system integrator Powin Energy has gained equity investment which the company claimed will allow it to significantly improve its integrated software and hardware platform.
The amount of corporate funding coming into the global battery storage industry in 2020 was more than double the amount the previous year, with over US$6.5 billion raised last year compared to around US$2.8 billion in 2019.
Long-duration energy storage startup Form Energy has confirmed details of its recently reported Series C investment round, with Bill Gates’ Breakthrough Energy Ventures among continuing investors.
Venture capital (VC) funding in battery storage companies in the third quarter of 2020 was up 78% on the previous quarter, while total corporate funding in the sector for the first nine months of the year rose by 62% compared to the same period in 2019.
Funding into battery storage companies fell dramatically in the first half of 2020 compared to last year’s equivalent period, according to the latest reporting from Mercom Capital.
While the renewable energy industry has suffered significant blows such as loss of employment during the COVID-19 crisis, venture capital (VC) funding into the battery energy storage sector in the first quarter of this year nonetheless saw a significant increase over the previous year’s equivalent period.
Controlled Thermal Resources and Lilac Solutions are creating facilities for lithium extraction and chemical processing at a geothermal plant at Imperial Valley’s shallow, saline Salton Sea.
Along with TEPCO, Mercom named other major utilities and companies with a background in oil and gas as investors in the battery storage sector during the quarter.
