Companies rush to acquire Smart Grid and EV Charging Platforms

by Mr. Crypto Lemon | February 9, 2019 8:37 pm

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.

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