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Investment in energy storage jumped 55% in 2022 as funds shifted from private equity to public markets

January 24, 2023

Investor interest in energy storage is growing — and probably hasn’t yet peaked, according to Mercom Capital Group.

While overall corporate funding for energy storage increased to record levels in 2022, venture capital invested in energy storage declined by a little over one-third after hitting a record $8.8 billion in 2021. The inverse trends appear to be the result of a few large deals, such as a $10.7 billion IPO by battery manufacturer LG Energy, shifting funds from venture capital and private equity to public markets, according to Prabhu.

“Beyond that, the second, third and fourth quarters were steady,” Prabhu said. “These big deals are making a huge difference.”

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