Corporate funding for energy storage down 36% in 9M

Funding decreased to $11.2b.

Corporate funding for energy storage companies in the first nine months reached $11.2b across 85 deals, lower by 36% YoY compared to $17.6b in 83 deals in the same period last year, data from Mercom Capital Group showed.

Over the same period, venture capital (VC) funding for energy storage companies increased 4% to $2.8b in 56 deals. This is against $2.7b in 61 deals in 9M 2024, it said its energy storage and M&A report.

Materials and components providers received the most VC funding, with $1.1b in 9M 2025.

Other top-funded categories included energy storage downstream companies, energy storage systems providers, lithium-based and sodium-based battery companies, Mercom said.

Twenty energy storage M&A transactions were announced in 9M 2025, up from 18 M&A transactions in the same period last year.

Energy storage firms announced 45 project M&A transaction companies in 9M 2025, compared to 22 transactions in 9M 2024, the research firm said. 

Mercom's report covered 155 companies and investors.