Energy storage funding jumps 15% to $17.6 bn in 2024

30 Oct 2024 CW Team

Corporate funding for energy storage companies reached $17.6 billion across 83 deals in the first nine months of 2024, marking a 15% increase year-over-year, according to a report from Mercom Capital Group. However, venture capital (VC) funding in the sector saw a sharp 69 % decline, amounting to $2.7 billion in 61 deals, down from $8.6 billion across 68 deals in 2023. Debt and public market financing for energy storage companies surged by 125 %, hitting $15 billion in 22 deals, a significant rise from $6.6 billion in 2023. "Corporate funding trends reflect a clear shift towards debt and public market financing over venture capital in the energy storage space," the report noted. The largest VC funding rounds in energy storage in 2024 included Sila Nanotechnologies, raising $375 million, and EnerVenue Holdings with $308 million. Other top deals were Natron Energy at $189 million, Ascend Elements with $162 million and Antora Energy at $150 million. In merger and acquisition (M&A) activity, 18 transactions were announced in the energy storage sector, up from 11 last year. Project M&A activity held steady, with 22 transactions each in 2023 and 2024. In contrast, the Smart Grid sector saw corporate funding drop 33 %, totalling $2 billion across 53 deals, down from $3 billion in 48 deals last year. Smart Grid VC funding rose by 13 %, reaching $1.4 billion across 43 deals. Leading VC deals included Electra’s $330 million raise, Powerdot’s $108 million, and FLO’s $100 million. Debt and public market financing for Smart Grid technology fell sharply to $568 million in 10 deals, compared to $1.7 billion across 11 deals in 2023. M&A transactions in the Smart Grid sector also saw a slight decline, with seven deals in 2024 compared to eight last year.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..