Sean Covert’s Post

Corporate funding for energy storage increased 117% year-on-year in the first half of 2024, totaling $15.4 billion across 64 deals. This surge highlights growing investor confidence in the sector, driven by advancements in battery technology and increased demand for sustainable energy solutions. Notable investments include significant contributions to lithium-ion and alternative battery technologies. This growth in funding underscores the critical role of energy storage in the global energy transition. #EnergyStorage #SustainableEnergy #CleanEnergy #RenewableEnergy #BatteryTechnology #Investment #EnergyTransition #ClimateAction #GreenEnergy #Innovation #EnergyEfficiency #CorporateFunding #FutureOfEnergy #Sustainability #EnergyMarket https://lnkd.in/gCx6P_NF 4o

🚀 Corporate funding for energy storage more than doubled in the first half of 2024! This is exciting news for the industry, as companies globally secured US$15.4 billion, a 117% increase from H1 2023. This shows a significant shift in investment priorities towards sustainable energy solutions. In the latest Mercom Capital report, it was noted that while 2024's figures weren't as high as the record-breaking US$15.8 billion in H1 2022, the growth trajectory is clear. The report highlighted that 64 corporate deals were made, underscoring the burgeoning interest and confidence in energy storage innovations. This surge comes as the world increasingly focuses on reliable, renewable energy sources. Interestingly, VC funding saw some diversification with major deals going beyond lithium-ion technologies. Companies like Enervenue and Antora Energy are making waves in the metal-hydrogen and thermal storage sectors. It's inspiring to see such innovation and growth. Let's keep the momentum going! 🌱🔋 #EnergyStorage #RenewableEnergy #SustainableFuture

While electric vehicles, batteries, solar panels and windmills dominate headlines around the energy transition, boring bits of the system may do just as much to propel the transition forward – and the companies that provide them may be much more attractive investments. Alec Cutler, Portfolio manager of the Orbis Global Balanced Fund explains further. Read more about energy investments you may not have considered: https://lnkd.in/dTgenBri #EnergyTransitionInvestments #OffshoreWindInfrastructure #InvestmentOpportunities

A company found that making energy efficiency upgrades and installing solar panels, battery storage and electric vehicle (EV) charging across some 2,000 sites could lift its energy-related EBITDA by roughly 80%. The low-carbon energy transition is reshaping the way that companies power themselves—and the way they generate financial value. Advances in technology mean that companies now can radically drive down their energy intensity, secure affordable energy from low-carbon sources, achieve further efficiencies by electrifying operations and participate in energy markets. https://lnkd.in/g2XPVfnM

#renewables US Clean Energy Investment Up To Record $71 Billion in Q1 2024 Clean energy investment in the US, including electric vehicles, increased almost 40% from Q1 2023 to Q1 2024. According to the Clean Investment Monitor, jointly published by MIT and the Rhodium Group, these investments consisted of consumer purchases of zero-emissions vehicles, solar and storage insallations and heat pumps totalling $31Bn, corporate clean energy and industrial decarbonization investments of $24 Bn, and clean manufacturing, including the EV supply chain, with $17 Bn.

Great Industry Insight from Alistair Dormer in to how Hitachi Energy is pioneering #cleanenergy #solar & #hydroelectric infrastructure with a multi year multi $bn investment strategy. More companies need to follow suit. #sustainability

European smart energy company GridBeyond has raised €52 million in a Series C funding round that was led by Klima, Alantra’s Energy Transition Fund. Founded in 2010, GridBeyond said the new funding will be used to boost its international expansion plans, grow its existing US presence, and for R&D investments. In addition to Klima, the Series C round also featured new investors Energy Impact Partners, Mirova, ABB, Constellation, and Yokogawa Electric Corporation as well as investment from existing investor, Act Venture Capital. “We are delighted to complete this transaction,” remarked Michael Phelan, CEO and co-Founder of GridBeyond. “This funding, together with the support of our new partners, will enable us to expand our product offering and strengthen our leadership position in this space. “The newly completed financing round sets GridBeyond on the path to increase the reach of our intelligent energy platform and deliver world leading AI and powerful automation capabilities to smart grid and energy markets across the world." Since its foundation in 2010, GridBeyond has been developing its AI platform to help businesses unlock the full potential of energy assets, ensuring the sustainability, resilience, and affordability of energy as the world moves towards a zero-carbon future. GridBeyond’s AI platform is aimed at optimising energy assets, including utility-scale renewables generation, battery storage, and energy demand load, helping to bridge the gap between distributed energy resources and the requirements of the power grid. Bastien Gambini, Managing Partner of Klima, added: “GridBeyond has established itself as a VPP leader across different countries, enabling stakeholders throughout the value chain to optimise energy. “We are thrilled to support the company’s expansion and its additional services aimed at guiding customers on their path to achieving net zero-carbon.” Marathon Capital, LLC served as financial advisor to GridBeyond with ByrneWallace LLP as the company’s legal counsel and Mason Hayes & Curran LLP as the lead investor’s legal advisor. #cleanenergy

“The district energy sector is experiencing an exciting period of innovation, integration, and investment.”    That’s a quote from IDEA President & CEO Rob Thornton in a new article in POWER magazine about innovative energy solutions at commercial and industrial facilities.     Read more to learn how #districtenergy’s ability to create economies of scale is a key factor that makes it one of the technologies leading the way when it comes to solutions for innovation and decarbonization. https://lnkd.in/ef-P8CC2

Solar Power Purchase Agreements (PPAs) remain a viable option for businesses seeking affordable, long-term clean energy without upfront investment. SBEEC | digital energy transformation is also expanding into #PPAs for mid-to-large scale industrial #SolarEnergy projects.

Three business groups crunched the numbers and found that, if a 30% by 2030 plan was enacted, more than $13.1 billion could be invested in Pennsylvania in that time period and 129,000 jobs could be created. #solar #technology #renewableenergy