Companies rush to acquire Smart Grid and EV Charging Platforms
Battery Storage, Smart Grid, and Energy Efficiency Companies Bring
in $2.8 Billion in VC Funding in 2018 (Mercom)
· VC funding raised by stationary storage, micro-grids and energy efficiency companies nearly doubled to $2.8bn in 2018 from $1.5bn in 2017.
· Stationary battery storage companies raised $0.85bn, $0.53bn by micro-grid operators and $1.5 by companies involved in energy efficiency.
· Charge Point (owned by Siemens) and Sonnen (large residential storage provider in Germany) are the two interesting companies which raised significant VC funding in 2018.
Comments
· Stationary storage and micro-grid projects are doubling every year albeit from a low base. We expect this growth to only strengthen over the next 5 years.
· Mini utilities (Sonnen, Tesla, SMA Solar) and micro-grid control providers (Siemens, Schneider, ABB, PSI) are likely to benefit from this growth.
BP invests in PowerShare, one of China’s leading electric vehicle charging platforms (BP press release)
· BP has invested in a Chinese EV charging hardware and software company PowerShare.
· Powershare has a cloud based charging software which makes it easier for power suppliers to manage electricity requirements.
· In related news, Dutch listed charging hardware provider Alfen has won a contract with D’leteren (VW brand importer in Belgium) to supply charging points for its customers in Belgium.
Comments
· Oil & gas companies, utilities and automotive OEMs are all heavily investing in EV charging infrastructure.
· This will result in sharp increase in the demand for charging hardware and software. This explains why BP has chosen to invest in a leading charging software provider in China – the largest market for EVs.
· European charging hardware manufacturer Alfen is well placed to benefit from the growth in EV charging infrastructure.
Published by Mr. Crypto Lemon
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Howdy sir vlemon! very interesing report, pretty soon these charging stations will be everywhere, even Texas! lol. Great job, I appreciate the reports you post.
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