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smart grid funding
Smart Grid  
22 April 2016

Global smart grid funding worth US$110m – report

Global Venture Capital (VC) for smart grid companies has doubled to US$110m in the first quarter of 2016, states Mercom Capital Group.

In a press statement, the US headquartered global energy market intelligence firm says the increase in the global smart grid VC funding was a result of an increase in the amount of investments in the technologies.

Smart grid funding

Twenty-two investors participated in the smart grid funding round during the first quarter of 2016 with 14 deals being signed compared to 12 agreements which were reached in the last quarter of 2015.

However, the funding was lower compared to the US$185m raised in 15 deals within the first quarter of 2015.

The leading VC funded companies included mPrest with US$20m, Powerhive with US$20m, Smart Wires with US$20m, Telensa with US$18m and Evatran with US$3.5m, highlights the research company.

Debt and market financing reached US$214m in nine deals whilst US$3.5m was raised in one deal in Q4 2015.

With regard to M&A in the smart grid market, two transactions were signed compared to Q4 2015’s nine deals and seven in Q1 2015. [Regulation to support SE Asia smart grid market].

Battery Storage

VC funding for battery storage has dropped this year to US$54m in 10 deals compared to US$108m in eight deals in Q4 2015.

Eight investors managed to participate in the funding which saw Sunverge Energy, Vionx Energy, Skeleton Technologies, Geli and Voltaiq leading the VC funded battery storage companies.

Two debt and public market financing deals brought in US$29m compared to US$32m raised in three deals in Q4 2015. [Australia’s AGL invests US$20m in battery storage tech].

There were two M&A transactions involving Battery storage companies in Q1 2016.

Energy Efficiency

In energy efficiency, technology companies raised US$211m in VC funding in 14 deals compared to $185M in 17 deals in Q4 2015 and $140M in 15 deals in Q1 2015.

The Top 5 efficiency deals included $70m raised by Renew Financial, $30M raised by Figtree Financing, $30M raised by Ygrene Energy Fund, $25M raised by Enlighted, and Arctic Sand Technologies raised $19M.

Thirty-one investors participated in VC funding in the energy efficiency sector in which two solutions providers have so far brought in $238M in debt and public market financing this year compared to US$216m raised in two deals in Q4 2015. [First Energy utilities file energy efficiency plans to PUCO].

Three M&A transactions were reached in the energy efficiency sector in Q1 2016 compared to 10 deals in Q4 2015.

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