Rendering of Hydrostor’s proposed large-scale project in Broken Hill, Australia. Image: Hydrostor.
In the first half of this year, energy storage companies raised almost as much corporate funding as in the whole of 2021, according to Mercom Capital.
The latest edition of the market research group’s quarterly funding and M&A report for energy storage, smart grid and energy efficiency found that US$15.8 billion of corporate funding was raised in H1 2022 in energy storage.
In 2021, that figure stood at US$9.6 billion at the half-year mark and at US$17 billion at the end of the year. That annual sum had been a 159% increase over the previous year’s pandemic-depressed US$6.5 billion and was the highest recorded since 2014.
With Mercom CEO and lead analyst Raj Prabhu having said in January that 2021 was the first year in which “funding activity reflected the…