Falling technology costs and increased adoption of solar prompted venture capitalists to invest a record $1.4bn in battery storage firms during H1, according to a report by Mercom Capital Group. It acknowledged the figures were skewed by Northvolt's $1bn fund for a 16 GWh scheme. The report also revealed 41 venture capital investors participated in 17 deals during the period, compared with 30 for H1 2014. Battery storage investment has come primarily from the US and Europe.
Falling technology costs and increased adoption of solar prompted venture capitalists to invest a record $1.4bn in battery storage firms during H1, according to a report by Mercom Capital Group. It acknowledged the figures were skewed by Northvolt's $1bn fund for a 16 GWh scheme. The report also revealed 41 venture capital investors participated in 17 deals during the period, compared with 30 for H1 2018. Battery storage investment has come primarily from the US and Europe.