Mercom found there was a decline of 28% year-on-year (YoY) in the total sum of corporate funding, with US$19 billion raised across 120 deals in 2023, versus US$26.4 billion in 2022 from 124 deals. It remains to be seen which will be the blip and which the trendsetter – this time last year, Mercom Capital proclaimed 2022 to have seen corporate funding at an all-time high, representing a 55% uplift from 2021’s US$17 billion total. Mercom’s numbers for corporate funding into energy storage companies, 2019-2023. Image: Mercom Capital. Analysis provided with the new report reiterated what the firm said at the time: 2022’s figures were skewed by the inclusion of LG Energy Solution’s US$10.7 b
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