That brings the total to $9 million for the Bay Area builder of an integrated 13.4 kWh energy storage system in the overcrowded residential market.
The company’s technology falls in the ‘kerfless’ wafer category: Instead of sawing silicon ingots into wafers, a time-consuming and wasteful process, 1366’s technology forms wafers directly using molten silicon.
Mercom Capital Group’s Q1 2019 Solar Funding & M&A report shows $2.8 billion in venture capital, public market and debt financing, versus $2.5 billion a year ago. Large-scale project financing reached a record $5.58 billion across 43 deals, while there were 18 solar corporate M&A transactions.
Mercom Capital’s latest report shows both VC and public market funding for battery storage growing year-over-year.
Mercom Capital’s latest report shows sustained low levels of funding for solar companies but strong investment in solar projects and many acquisitions.
The investment from FTV Capital is the latest in a string of fundraising successes for the solar and energy storage lending platform.
The section 201 case took a big bite out of corporate solar and large-scale project funding, and the quarter also saw a stunning $8.3 billion in reported mergers and acquisitions.
The latest report by Mercom Capital finds VC investment in battery storage companies rising five-fold year-over-year to $299 million in 12 deals.
According to a report released by Mercom Capital, venture capital firms showered battery storage companies with money to the tune of $714 million last year.
Venture capital, debt, securitization and project finance were all winners in 2017, as were solar stocks. However Mercom Capital warns that the pending Section 201 ruling could cause significant damage to the sector in 2018.
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