Who has funded energy storage ventures in the last six years:
- all documented funding sources since 2009 for grid energy storage ventures listed in the EnergyMag.net energy storage directory;
- directory includes funding sources for some (but not all) energy storage ventures that do not focus on grid energy storage (e.g. car and device batteries);
- documented sector focus for the funding firm may not be, and often is not, an exclusive focus;
- date between brackets, e.g. [2009], is date of last energy storage investment.
traditional investors
energy sector focus
- Angeleno Group next generation energy, multiple storage investments [2015]
- Asia Clean Energy based in Singapore & Beijing, clean & renewable energy [2011]
- Braemar Energy Ventures alternative and traditional energy [2013]
- Bright Capital energy, cleantech [2013]
- Cadent Energy Partners expansion capital, energy sector [2011]
- CalCEF Clean Energy Angel Fund seed and early stage, clean energy [2012]
- Canon Investment Holdings, Hong Kong, owns Zhuhai Yintong New Energy [2011]
- Cascade Investment LLC (Bill Gates) focus is not explicit, but includes energy sector: Bill Gates investments multiple storage investments [2014]
- Chrysalix Energy Venture Capital early stage, new energy economy, clean energy sector, multiple storage investments [2015]
- Claremont Creek Ventures seed and early stage, digital solutions in energy [2012]
- Clean Fleet Investors clean energy [2013]
- Commercial Energy energy generation company, assist start-ups in bringing new technologies to market [2012]
- Emertec based in France, energy and sustainability focus [2009]
- Energy Foundry seed and early stage, non profit model [2014]
- ETI | Energy Technologies Institute based in UK, combination of grants and investments, energy storage [2012]
- Energy Technology Ventures GE+NRG+ConocoPhilips, next generation energy technologies focus [2013]
- EnerTech investing in energy technology companies [2010]
- Firelake Capital energy distribution and generation [2013]
- Grupo ECOS energy, cleantech, primarily in Latin America [2015]
- Haddington Ventures midstream geological gas storage [2013]
- Invested Development alternative energy [2013]
- IPV Capital based in China, mostly Chinese investments, early stage, cleantech [2014]
- Khosla Ventures sustainability+energy and sustainability+storage, multiple storage investments [2014]
- Lightspeed Venture Partners energy [2013]
- New Enterprise Associates (NEA) energy efficiency and storage, multiple storage investments [2013]
- Northern Lights VC based in China, cleantech/energy & materials, [2010]
- Oceanshore Ventures early stage, breakthrough materials-based technologies, renewable energy, energy storage, energy efficiency [2010]
- Oak Investment Partners clean energy [2011]
- Pangaea Ventures early stage, energy generation and storage, cleantech, advanced materials, multiple storage investments [2015]
- PGM Development Fund based in South Africa, funded by Anglo-American Platinum, cleantech & clean energy [2015]
- Quercus Trust David Gelbaum’s family trust, focus is not explicit but includes energy [2012]
- Rockland Capital energy [2013]
- Sail Venture Capital Partners energy and energy storage [2012]
- Silver Lake Kraftwerk technology innovators, established business models, energy and resource sectors [-]
- Skylake Incuvest based in Korea, Renewable energy [2011]
- Sofinnova Partners based in France, clean energy [2010]
- Southern Cross Venture Partners based in Australia, cleantech+renewable energy, multiple storage investments [2014]
- SSE – Scottish and Southern Energy – Ventures based in UK, renewable, sustainable, and energy efficiency products [2014]
- Starwood Energy energy infrastructure, multiple storage investments [2015]
- Technology Partners cleantech+energy, multiple storage investments [2009]
- True North Venture Partners energy [2011]
- US Renewables Group renewable energy industry [2011]
- VantagePoint Capital Partners energy innovation and efficiency, curbing cleantech fund raising, multiple storage investments [2015]
- Warburg Pincus » Energy [2010]
- Wellington Partners Venture Capital based in Europe, resource efficiency sector [2010]
- XPV out of energy storage, moved on to water sector [2010]
cleantech sector focus, no energy sector focus
- Advanced Technology Ventures exceptional entrepreneurs, cleantech [2013]
- Amundi based in France, retail and institutional investment bank [2010]
- DBL Investors cleantech, enable social, environmental and economic benefits, multiple storage investments [2015]
- Doughty Hanson based in UK, mostly companies with Euro focus, cleantech [2013]
- DT Capital Partners – 德同资本 based in China, cleantech China only [2010]
- Element8 previously Northwest Energy Angels early stage [2015]
- Gentry Venture Partners mid to late stage, cleantech [2013]
- Gimv based in Belgium, sustainability [2010]
- I2BF Global Ventures cleantech, nanotech. energy, energy efficiency, multiple storage investments [2015]
- Idealab seed and early stage, cleantech [2012]
- Idinvest Partners based in Europe, environment sector, primarily but not only Euro companies [2011]
- In-Q-Tel technologies for the CIA [2012]
- Kleiner Perkins Caufield Byers shifting away from cleantech? greentech VC exodus, multiple storage investments [2014]
- OVP Venture Partners early-stage, clean tech, shutting down [2013]
- Roda Group businesses that address consequences of climate change [2014]
- SAIF Partners based in China, mostly Asian companies, cleantech [2014]
- SB China Capital (SBCCVC) based in China, cleantech is one of several sectors [2016]
- SoftBank China Venture Capital based in China, cleantech [2013]
- Walden International cleantech [2013]
- Westly Group companies that change the world, non-explicit but clear cleantech focus [2013]
materials sector focus
- Matrix Partners materials [2012]
- New Science Ventures advanced materials, semiconductors, photonics [2013]
- Russia Kazakhstan Nanotechnology Fund managed by I2BF [2015]
software sector focus
- Core Capital Partners disruptive information technologies [2009]
- Intel Capital software [2011]
no energy or cleantech sector focus
- AIB Seed Capital Fund based in Ireland, focused on Ireland/UK [2011]
- Ashmore Group based in UK, focus on emerging markets [2011]
- Astor Ventures unknown focus [2013]
- BankInvest based in Denmark, moved away from energy, now focused on emerging markets [2010]
- BlueRun Ventures moved away from Cleantech, now focused on Mobile [2009]
- Canaan global venture capital firm that invests in people with visionary ideas, technology and healthcare [2010]
- Capstar Partners [2013]
- CEL – European Private Equity fund for China based in Europe, China only [2010]
- Chinergy Capital 信能资本 based in China, venture arm of Chinergy Nuclear [2014]
- Cooper and Company general purpose private equity [2010]
- CRV – Charles River Ventures early-stage, exceptional entrepreneurs in high growth technology [2010]
- DFJ Draper Fisher Jurvetson shifting away from cleantech? [2014]
- Eric Schmidt [2014]
- F&C UK based, institutional asset management [2013]
- Foundation Capital focus on building great companies [2013]
- Foundation Asset Management (FAM) Wallenberg family foundations, some of the fund allocated to general ventures [2011]
- Gabriel Venture Partners early stage [2011]
- General Catalyst Partners [2011]
- Greylock Partners no sectors target energy storage, possibly branched out? [2010]
- GSR Ventures focus on China, may require move to China [2012]
- Marshall J. Cohen Family Trust [2013]
- Karen Pritzker/ Michael Vlock family office [2014]
- KLP Enterprises [2014]
- MDB Capital disruptive technologies, short timeline, large market [2012]
- Meditor UK based, institutional asset management [2013]
- North Bridge early stage, exceptional entrepreneurs [2010]
- Northwater Capital Management IP-based companies, multiple investments [2013]
- ORIX mid-late stage, technology/ life sciences, through venture or private capital [2015]
- Partech Ventures based in Europe, international investing, high growth companies [2010]
- Peter Thiel contrary investor [2013]
- Polaris Partners technology sector, multiple energy storage investments [2011]
- Renaissance Technologies investing through mathematical/ statistical methods [2012]
- Rocket Ventures early stage, northwest Ohio ventures [2013]
- RockPort Capital Partners energy sector [2011]
- Sigma + Partners, Venture Capital [2013]
- Spring Ventures based in UK, focus on industrial products, possibly moved out of energy storage [2012]
- Sutter Hill Ventures big markets, hard technologies [2012]
- Stanford University acts as a VC [2014]
- Stephens Capital Partners private equity [2012]
- Topspin Partners leveraged buyouts [2012]
- Trident Capital multiple storage investments [2014]
- UP Invest based in Estonia [2013]
- University of Toledo Innovation Enterprises UTIE early stage, local investments [2009]
- Venrock originally Rockefeller family fund venture fund [2011]
- Vangoo Investment Partners based in Japan, focus on China investments [2011]
industrial corporations investing into energy storage companies
Either directly or through a venture arm.
- 9th Street Investments out of advanced ceramics company Coorstek, advanced materials sector [2012]
- 3M New Ventures energy, sustainability [2012]
- AGL Energy energy [2016]
- Air Liquide based in France, focus is not explicit, but includes energy sector, multiple storage investments [2013]
- American Electric Power US utility [2015]
- Applied Ventures VC arm of Applied Materials, early stage, businesses complementing company focus [2009]
- AREVA based in France, nuclear company diversifying in renewables, energy focus [2009]
- BASF (this is not BASF Venture Capital) [2012]
- Bessemer Venture Partners investment arm of Dow Chemical, cleantech, multiple storage investments [2012]
- BP Alternative Energy investing in lower carbon businesses [2011]
- Building Insurance Bern [2014]
- Constellation Technology Ventures investment arm of US power generator Exelon [2015]
- Dominion Power power and energy company, energy focus [2012]
- Dow Venture Capital specialty chemical or advanced materials sector [2011]
- Duke Energy utility company, energy focus [2011]
- Enbridge based in UK, energy generation and distribution company, energy focus [2013]
- ENGIE France, previously the famed GDF Suez [2015]
- E.ON SE based in Germany, operated across Europe [2015]
- Fisher Brothers real estate company and developers of renewable energy projects [2013]
- First Solar PV Solutions provider [2015]
- Fluor could have been a one-time investment [2012]
- GE Energy Financial Services energy sector, multiple storage investments [2015]
- Hydro-Québec CapiTech venture arm of Hydro Quebec, low-carbon generation and distribution [2013]
- Iberdrola based in Spain, utility and energy company [2015]
- JSR Corporation, based in Japan, leading materials supplier, focus on energy storage, materials [2012]
- Mitsui Global Investment (MGI) based in Japan, cleantech, multiple storage investments [2015]
- NRG Energy energy generator and developer of solar power systems, multiple storage investments [2013]
- OPG Power Ventures venture arm of Ontario Power [2013]
- POSCO ICT based in Korea, investment arm of energy producer POSCO Power, sustainability [2011]
- RWE Suply and Trading Germany, trading arm for RWE [2015]
- Rogers Corp advanced materials [2013]
- RR Donnelley [2013]
- Siemens Technology To Business technology to business center [2010]
- Siemens Venture Capital energy sector [2016]
- Tata Investment Corporation based in India, holding company for Tata Industries [2010]
- TEL Venture Capital based in Japan, Tokyo Electron venture arm, energy storage focus [2012]
- Total Energy Ventures based in France, venture arm of Total, general info, energy focus [2016]
- Townsend Ventures Townsend investment arm, energy, multiple storage investments [2012]
- Yellow&Blue Netherlands, venture arm of energy firm Nuon, owned by state-owned Swedish utility Vattenfall [2012]
grant sources
Energy storage ventures may also obtain funding from grant sources, rather than traditional investors. The following grant sources have funded energy storage ventures since 2009.
- ARPA-E Advanced research projects agency, a part of US Dept of Energy, funds early stage projects, multiple storage grants [2015]
- Australian Renewable Energy Agency [2016]
- BIRD Energy US DoE+ Israel MNI, energy projects with both US and Israeli partners [2014]
- California Energy Commission also funds Energy storage awards for CA deployments, multiple storage grants [2012]
- CDC Entreprises based in France, state-owned, early stage, ecotechnologies fund [2013]
- Clean Energy Trust US Midwest development or deployments, clean energy [-]
- Colorado Economic Development & Job Growth Advanced Industries (AI) Accelerator Program [2013]
- Department of Energy | Recovery Act |US “ARRA,” both grants and projects, smart grid, no new issue [2014 for ongoing grants]
- DOE-Loan Programs Office loan guarantees from US government, $1.5B to $4B left [-]
- DoE SunShot Initiative: Solar Incubator Program includes storage projects [2013]
- Department of Energy & Climate Change – GOV.UK DECC funds UK energy projects [2014]
- ETI | Energy Technologies Institute based in UK, combination of grants and investments, energy storage [2012]
- Hawaii Energy Excelerator funded by US Navy [2014]
- Innovate Washington Washington State firms and projects [2010]
- Massachusetts Clean Energy Center MassCEC funds through InnovateMass clean energy technology projects in the state [2013]
- Michigan Economic Development Corporation | MEDC [2010]
- New Jersey Economic Development Authority Edison Innovation Clean Energy Manufacturing Fund (CEMF), NJ manufacturing [2013]
- New York State Energy Research and Development Authority (NYSERDA) cleantech projects in NY State, multiple storage investments [2015]
- US National Science Foundation SBIR/STTR Small Business Innovation research [2013]
- Ontario Strategic Jobs and Investment Fund fund technology projects in Ontario [2011]
- Oregon NAnoscience and Microtechnology Institute ONAMI Gap Program funds early stage nanotech projects in Oregon, energy focus [2012]
- State of Ohio Federal Research Network {no URL] funds research institutions in greater Midwest [2016]
- Sustainable Development Technology Canada late stage and pre-commercialization, clean energy, cleantech [2013]
- Texas Emerging Technology Fund funding technology R&D and commercialization stages [2010]
export development
In general in the form of loans.
- Export Development Canada (EDC) [2010]
- Export-Import Bank of China large cleantech loans, no energy storage loan yet [-]
- Japan Bank for International Cooperation successor of Japan Export-Import Bank and of Overseas Economic Cooperation Fund [-]
- Korea EximBank [-]
- US Exim Bank numerous cleantech loans, no energy storage loan yet [-]
developing world support
- International Finance Corporation branch of the World Bank, developing world, some focus on renewable energies, sustainable development, and infrastructure [2011]
crowdfunding
Made easier by recent changes in US securities laws. How it can work: one company’s experience.
- Angel Fund.Me based in Europe, angel investment platform [2014]
- AngelList publicly fundraising startups [2014]
- Australian Small Scale Offerings Board (ASSOB) longest track record of business crowdfunding in the world [-]
- Crowdfunder UK largest crowdfunding network, mostly small non-profit projects [-]
- FundersClub invest in startups [-]
- Kickstarter [2013]
- MicroVentures equity crowdfunding platform for startups [-]
- Social Venture Network | Serious Change building a more sustainable world [2011]
- Wefunder invest in startups – crowd investing [-]
philanthropy
Energy storage ventures have a long lead time, sometimes too long for the venture capital industry. There is discussion today about philanthropy being a possible source of funds for energy storage ventures. We do not know of any direct philanthropic investment into energy storage to date, but two of the funds listed above (DBL Ventures, Clean Energy Trust) have philanthropic foundations as fund partners.
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