Global Energy Storage Startup Map
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We are living at an age when managing one’s impact on the environment is not an option anymore. The transition to sustainable business models and lifestyles is very evident, and most countries and corporations are behind the change, be it driven by values or regulation.
We see the huge importance of alternative energy storage to decarbonise the grid, stabilize distributed energy resources, power long haul trucks or your electric scooter. Managed in the right way, it will lead to a cleaner environment and improved quality of life for the majority of the population.
How energy is captured and stored to be used at times when it is most optimal for balancing demand and supply, is at the centre of that transformation. The traditional energy storage medium — fossil fuels — are being pushed out as the main means to store energy by multiple forces (lower cost, positive impact on climate change, efficiency and others).
Venture capital firms poured nearly $2 billion into battery storage companies in 2019, doubling the amount over the year before. We, of course, have to highlight the behemoth funding of Northvolt ($1 billion), or Sila Nanotechnologies ($215 million) and Energy Vault ($110 million), which greatly skew the numbers to mega-rounds.
And to add, while lithium-ion batteries are currently in the spotlight of energy storage technology, accounting for 80% of energy storage VC funding last year, we wanted to highlight the universe of the many technologies enabling a clean and sustainable energy storage revolution. Whether fuel cells powered by hydrogen, air and liquid stored underground, or ice, we present you the 100 startups leading the energy storage change.
On one side, energy storage investment continues to grow exponentially as many utilities and other power generators shift toward renewables, and as more renewable energy is connected to the grid, big batteries are needed to kick in to stabilise the grid when power demand falls short during a low wind day at a sea populated with offshore turbines. At this scale, lithium-ion today is expensive.
And on the other side, corporates and investors respond to the explosive growth of electric vehicles (driving the lithium-ion battery glut), tackling the carbon impact in the transportation sector. The main objectives of the companies working on technologies in this space are safety (no fire) and efficiency (reliable range).
Let us know if you have companies or segments we should add and track!
