L R AS Published on Thursday 27 October 2016 - n° 166 - Categories:funding

Q3 financing of smart grid, battery storage and energy efficiency companies

Smart grid, battery storage and energy efficiency companies raised $102 million in venture capital in thethird quarter of 2016. Ecobee, manufacturer of Wi Fi smart thermostats, was the company that collected the most money with $35 million, followed by

Skeleton Technologies, a manufacturer of super-capacitors, and Sense, which produces energy monitoring systems for homes.
11 million has been invested in smart grids in seven agreements (compared with $222 million in thesecond quarter, and $88 million in thethird quarter of 2015).
Venture capital investments in battery storage amounted to $30 million, compared with $125 million in thesecond quarter and $96 million in thethird quarter of 2015. Borrowings and capital market financing amounted to $52 million. Capital raised to install residential and commercial batteries at customers' sites reached $625 million. Tabuchi raised $300 million to finance customer installations; Advanced Microgrid Solutions raised $200 million; Stem $100 million.
Energy efficiency investments returned to $61 million (Q2: $86 million) for venture capital. Borrowings and market calls reached $328 million.
Mercom Capital October 24, 2016

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