In the first half (1H) of 2023, corporate funding for energy storage companies reached an impressive $7.1 billion across 59 deals, according to Mercom Capital Group’s 1H and Q2 2023 Funding and M&A Report Storage and Grid Report. Although this represented a 55% year-over-year decrease compared to the unprecedented $15.8 billion raised in 60 deals in 1H 2022, it’s crucial to note that LG Energy Solutions’ massive $10.7 billion IPO in January 2022 significantly skewed the YoY comparison.