GlobalData: Value of Venture Capital Deals in Advanced Batteries Skyrocketed 850% YoY in 2021

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According to GlobalData, a data and analytics firm, the value of venture capital (VC) deals in advanced batteries grew 850% year-over-year (YoY) in 2021, putting the focus on lithium chemicals.

Big deals from venture capitalists are pushing advanced battery funding to a new high. The main objective of these agreements is mainly to accelerate the commercialization of lithium batteries which have high energy density, superior performance, increased safety and are cost effective.

—Prasad Kakade, Principal Disruptive Technology Analyst at GlobalData

The latest report in GlobalData’s FutureTech series, “Performance Meets Sustainability – Can Advanced Batteries Facilitate Energy Transition?”, highlights various lithium battery startups looking to accelerate the adoption of electric vehicles.

SVOLT, based in China, manufactures lithium-ion batteries for electric vehicles and energy storage. In December 2021, it received $930 million from Sichuan Energy Investment, Han’s Laser Technology and others to expand production facilities and R&D centers for its high energy density and safe lithium iron phosphate batteries.

The American company SES (formerly SolidEnergy Systems) produces energy-dense and cost-effective lithium-metal batteries to power the future of electric vehicles and electric vertical take-off and landing (eVTOL). In April 2021, the company raised $139 million in a Series D funding round with participation led by General Motors’ VC arm and other investors including Shanghai Auto, Temasek, Applied Ventures and Vertex. In July 2021, the company went public through a merger with special purpose acquisition company (SPAC) Ivanhoe Capital.

US-based Solid Power develops cost-effective fully solid state rechargeable lithium batteries for various electromobility segments. In May 2021, the company raised $130 million in an investment round led by the VC arms of BMW and Ford with Volta Energy Technologies. The funding was used to increase production of its high-performance lithium-ion batteries and expand its in-house manufacturing capabilities for future vehicle integration.

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