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Mercom: Corporate funding for energy storage companies hit $26.4B in 2022; up 55% y-o-y

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Mercom Capital Group, a global clean energy research and communications firm, released its report on funding and mergers and acquisitions (M&A) activity in 2022 for the energy storage, smart grid, and energy efficiency sectors. Corporate funding for energy storage, smart grid, and energy efficiency companies.

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Sysco unveils vision for first EV hub: 40 electric tractors and refrigerated trailers; 4MWh ESS and 1.5MW additional solar

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Sysco Corporation, the world’s largest food distributor, unveiled its vision for the Riverside Electric Vehicle Hub, which will transform the company’s distribution center into the focal point of its electrified fleet. and add 2,800 electric trucks to its US fleet by 2030.

Solar 397
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Hanwha and LG Energy to build battery production in US, targeting ESS and UAM

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The joint investment will pave the way for Hanwha to lead the rapidly-growing energy storage market and future Urban Air Mobility business. The two companies signed a memorandum of understanding in Seoul for comprehensive battery business cooperation for ESS (energy storage systems) and other clean-tech energy solutions.

Building 199
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Hydro-Québec and Sony forming JV to develop large-scale Li-ion energy storage system for power grids

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Hydro-Québec and Sony Corporation will establish a joint venture to research and develop a large-scale energy storage system for power grids. Furthermore, the energy storage system for such power supplies must be highly safe and reliable due to the need for an efficient and stable source of high capacity power.

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Wanxiang and NEC to form joint venture for grid energy storage in China

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China Wanxiang Holding announced the planned formation of a joint venture between its wholly-owned subsidiary, Puxing Energy, and NEC Corporation to pursue grid energy storage opportunities in the Chinese market. Its formation is an important element of the recently announced NEC acquisition of A123 Energy Solutions.

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China’s State Grid and BYD launch 36 MWh battery system for grid energy storage

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BYD and the State Grid Corporation of China (SGCC) have finished construction on what may be the world’s largest battery energy storage station. Although BYD manufactures 1GW of solar panels annually, their role in this project was primarily providing energy storage batteries in arrays larger than a football field.

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Kokam deploys new 24MW and 16MW Lithium NMC energy storage systems for frequency regulation

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Kokam has successfully deployed two Lithium Nickel Manganese Cobalt (NMC) Oxide Energy Storage Systems (ESSs)—a 24-megawatt (MW) system / 9-megawatt hour (MWh) and a 16 MW / 6 MWh system—for frequency regulation on the South Korean electricity grid.