A combined $210 million was raised by battery storage, smart grid, and energy efficiency companies in Q1 2019—a 55.5% decrease from the $472 million raised in Q1 2018, according to a new report from Mercom Capital Group, llc, a global clean energy communications and consulting firm.
Total corporate funding (including VC, debt, and public market financing) in battery storage came to $130 million in nine deals compared to $110 million in 14 deals in Q4 2018. In a year-over-year (YoY) comparison, $299 million was raised in 12 deals in Q1 2018.
Venture capital (VC) funding (including private equity and corporate venture capital) raised by battery storage companies in Q1 2019 came to $78 million in seven deals—down significantly compared to $299 million raised in 12 deals in Q1 2018 but up quarter-over-quarter compared to $67 million in 11 deals in Q4 2018. . . .
Utility and oil and gas funds were active investors in battery storage and smart grid companies in Q1 2019, including Tokyo Electric Power, Total Energy Ventures, Chevron Technology Ventures, Centrica, and Shell Ventures. . . .
Smart Grid. Total corporate funding in Smart Grid came to $32 million in 16 deals compared to $272 million in 10 deals in Q4 2018. In a YoY comparison, $1.3 billion was raised in nine deals in Q1 2018.
VC funding for Smart Grid companies decreased in Q1 2019 with $32 million in 15 deals compared to $266 million in nine deals in Q4 2018. In Q1 2018, $75 million was raised in seven deals. The decrease in funding was largely due to ChargePoint’s $240 million deal in the fourth quarter. . . .
Efficiency. Total corporate funding in Energy Efficiency came to $155 million in two deals compared to $1.3 billion in eight deals in Q4 2018. In a YoY comparison, $104 million was raised in five deals in Q1 2018.
VC funding raised by Energy Efficiency companies in Q1 2019 was $100 million in one deal compared to $1.2 billion in seven deals in Q4 2018. The prior quarter total was skewed due to View’s $1.1 billion deal. In a YoY comparison, $98 million was raised in four deals in Q1 2018. . . .