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Mercom Capital Group
Smart Grid, Battery Storage and Efficiency Companies Raise $1.3 Billion in Venture Capital Funding in 2016
Smart Grid companies bring in $389 million; Battery Storage companies secure $365 million; Energy Efficiency companies receive $528 million



January 25, 2017

Mercom Capital Group, a global clean energy research and communications firm, released its report on funding and mergers and acquisitions (M&A) activity for the Smart Grid, Battery Storage and Energy Efficiency sectors for 2016.

Chart: Smart Grid, Battery Storage and Efficiency VC Funding 2015-2016

Smart Grid
Venture capital (VC) funding (including private equity and corporate VC) for Smart Grid companies dropped to $389 million (M) in 42 deals, compared to $425M in 57 deals in 2015. Total corporate funding, including debt and public market financing, came to $613M.

The top VC funded company in 2016 was Vivint SmartHome raising $100M.

Chart: Smart Grid-Top VC Funded Companies in 2016

Eighty-two investors funded Smart Grid companies in 2016. Top VC investors were Total Energy Ventures, Envision Ventures, and GE Ventures.

Smart Grid Communications companies, including Home and Building Automation, raised the most VC funding in 2016 with $154M in 11 deals, followed by Plug-in Hybrid Electric Vehicle Smart Charging and Vehicle-to-Grid companies with $83M in four deals.

There were five debt and public market financing deals announced in 2016 for a total of $224M.

There were 15 Smart Grid M&A transactions (four disclosed) for $2.4 billion (B) in 2016. Sensus acquired Xylem for $1.7B in the top transaction.

Battery Storage
Battery/Storage companies raised $365M in 38 deals in VC funding compared to $397M in 37 deals in 2015. Total corporate funding, including debt and public market financing, came to $540M.

Energy Storage System companies received the most funding with $146M.

The top VC funded company was sonnen which raised $85M.

Chart: Battery Storage-Top 5 VC Funded Companies in 2016

Sixty-two VC investors participated in Battery/Storage deals in 2016. 

Debt and public market financing for Battery/Storage companies came to $175M.

A significant amount of funding went into energy storage project funds with $820M in seven deals compared to $30M in three deals in 2015.

Chart: Battery Storage-Project Funds 2013-2016

There were 11 M&A transactions (three disclosed) for Battery/Storage companies in 2016; the most notable, Total's acquisition of Saft for $1.1B.

Efficiency
VC funding for Energy Efficiency companies came to $528M in 33 deals compared to $852M in 67 deals in 2015. Total corporate funding, including debt and public market financing, was $3.8B.

The top VC funded company was Ygrene Energy Fund with $95M.

Chart: Energy Efficiency-Top VC Funded Companies 2016

Efficiency Finance companies captured the most funding with $256M in seven deals.

Seventy-two investors participated in funding deals.

Energy Efficiency companies raised nearly $3.2 billion in debt and public market financing. Property Assessed Clean Energy (PACE) financings totaled $2.3 billion in 12 deals in 2016 compared to $1.1 billion in seven deals in 2015.

Philips Lighting raised $959M in the year's only IPO.

M&A activity in the efficiency sector in 2016 dipped with 14 transactions (five disclosed).

The largest disclosed transaction was the $532M acquisition of Opower by Oracle.

To get a copy of the report, visit: http://bit.ly/MercomSGQ42016

About Mercom Capital Group

Mercom Capital Group, llc, is a global communications and research firm focused on cleantech. Mercom advises companies on new market entry, custom market intelligence and strategic decision-making. Mercom's communications division helps companies build powerful relationships with media, analysts, local communities, and strategic partners. About Mercom: http://www.mercomcapital.com.

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Mercom Capital Group, llc
www.mercomcapital.com


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