Venture capital investment in battery and energy storage companies is down by almost $100million year-on-year, according to a recent report.
Battery/Storage companies raised $194 million in the first half of 2015 compared to $282 million in the first six months of 2014, according to clean energy communications and consulting firm Mercom Capital Group.
However, the second quarter saw an upswing of confidence with 13 venture capital funding deals worth a total of $126 million completed. Only seven deals worth $69 million were finalised in Q1 2015.
Vanadium redox flow batteries manufacturer VionX Energy topped the list with funding of $58.1 million in Q2; followed by Cnano Technology, a multi-wall carbon nanotube manufacturer and developer, who raised $15 million.
Stem, a behind-the-meter energy storage systems provider, raised $12 million; ultra-capacitors firm Skeleton Technologies, raised $10.7 million; and Advanced MicroGrid Solutions, a company that manages advanced energy storage solutions, received $8.8 million.
There were 24 investors who participated in VC funding rounds this quarter.