Dive Brief:
Corporate funding for energy storage grew 55% in 2022 to reach a record $26.4 billion, according to a report from Mercom Capital Group.
Lithium-ion technologies received the most funding in 2022. However, funding remains fairly dispersed across emerging battery technologies, suggesting markets are not completely convinced of lithium’s dominance, according to Mercom CEO Raj Prabhu.
Energy storage markets remain relatively immature; a handful of large deals can shift the center of funding activity from private capital to public markets, or from one technology to another.
Dive Insight:
Investor interest in energy storage is growing — and probably hasn’t yet peaked, according to Mercom Capital Group.
While overall corporate funding for energy storage increased to record levels in 2022, venture capital…