Nexeon lead the top five storage/battery VC deals in Q2 2016. The company raised $43.3 million from PUK Ventures, Imperial Innovations, Invesco Perpetual, Wacker Chemie and Woodford Investment Management. Aquion Energy raised $33 million. Stem received $15 million in funding from Mithril Capital Management. Greenvision Technologies (brand name Relicell) raised $8 in funding from Singapore-based venture fund Vintage Energy & Resources. Silatronix also raised $8 million from Hitachi Chemical and Inabata.
Lithium-ion leading followed by sodium-based batteries
Ranked by sub-technology lithium-ion batteries led with $51 million in three deals. Sodium-based batteries raised $33 million in one deal. Energy storage systems saw three deals with $21 million. Lead-based batteries had one deal with $8 million. Energy storage management software raised $7 million in one deal and thermal energy storage $4.6 million also in one deal.
About the same funding level as in Q2 2015
Compared to $54 million in Q1 2016 with $125 million VC funding for energy storage and batteries in the last quarter more than doubled according to the Q2 2016 Funding and M&A Report of Mercom Capital Group. Funding for batteries and energy storage in Q2 2016 had about the same level as in Q2 2015 with $126 million. (HCN)
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