M&A activity in the sector has taken a massive leap after three years of steady growth. Source: Mercom Capital Group.
Corporate funding of energy storage companies reached more than US$26 billion worldwide in 2022, a 55% jump from the previous year’s total of US$17 billion.
That’s according to the latest report from analysis group Mercom Capital, which also found that there was a 20% jump in the number of project acquisitions in the sector year-on-year, while there were six public listings for energy storage companies in 2022 versus four in 2021.
Mercom Capital tracks deals on a quarterly basis but uses the occasion of its fourth quarter (Q4) reports to round up activity for the year. Its energy storage sector figures are collated together with deals from the smart grid and energy efficiency sectors.
Under every metric recorded by the company except one,…