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Smart grid, battery storage and energy efficiency companies had raised $1.3 billion in venture capital funding in 2016.
While smart grid companies attracted $389 million, battery storage companies secured $365 million and energy efficiency companies received $528 million.
Venture capital funding, including private equity and corporate venture capital, for smart grid companies dropped to $389 million in 42 deals in 2016 compared with $425 million in 57 deals in 2015.
Total corporate funding, including debt and public market financing, stood at $613 million in 2016 compared with $527 million in 2015, according to Mercom Capital Group, llc, a clean energy research firm.
In its report on funding and mergers and acquisitions activity for the smart grid, battery storage and energy efficiency sectors for 2016, it stated that the top VC-funded companies in 2016 were Vivint SmartHome, which brought in $100 million, ChargePoint which raised $50 million, followed by AutoGrid, mPrest, Powerhive and Smart Wires each raising $20 million.
Eighty-two investors funded smart grid companies in 2016 compared with 103 in 2015. Top VC investors in 2016 included Total Energy Ventures, Envision Ventures, and GE Ventures.
There were five debt and public market financing deals announced in 2016 for smart grid companies for a total of $224 million. There were no IPOs in 2016 for smart grid companies.
Fifteen smart grid M&A transactions accounted for $2.4 billion in 2016. The top disclosed transaction was the $1.7-billion acquisition of Xylem by Sensus.
VC funding for battery storage companies fell marginally to $365 million in 38 deals compared with $397 million in 37 deals in 2015. Energy storage system companies received the most funding with $146 million followed by lithium-based battery companies with $79 million.
VC funding for the energy efficiency sector fell sharply, bringing in $528 million in 33 deals compared with $852 million in 67 deals in 2015.
Energy efficiency companies raised nearly $3.2 billion in debt and public market financing.
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