European Energy Storage Startups Secure €2.14 Billion in Funding
European energy storage startups have successfully raised over €2.14 billion in funding, with significant contributions from mechanical storage solutions, which received €696.7 million. Battery energy storage companies attracted €331.8 million, while EV charging with integrated storage garnered €435.5 million. The funding landscape reflects a growing investment in various energy storage technologies, including lithium-based systems and battery recycling initiatives.
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European startups in energy storage hardware have raised over €2 billion in equity funding, with 46.7% of this total achieved in the past three years and 84.4% in the last five years, according to research from Avnet Silica. Battery energy storage companies secured €331.8 million, primarily for lithium-based technologies, while redox flow developers raised €76.1 million.
Mechanical storage solutions led funding with €696.7 million, including €339 million for Highview Power and €200.5 million for Energy Vault. Thermal storage companies received €105.9 million, and supercapacitor, hydrogen, and power-to-x developers garnered €146.5 million.
EV charging with integrated storage attracted €435.5 million, with an additional €259.4 million invested in the supply chain. Two startups raised €19 million for battery recycling.
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