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Tracxn Research — Energy Storage Landscape, November 2016

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Page 1: Tracxn Research — Energy Storage Landscape, November 2016
Page 2: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

TracxnWorld’s Largest Startup Research Platform

2

Page 3: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 20163

Contents

Topic Page No.

Scope of Report 04

Entrepreneur Activity 06

Investment Trend 10

Who is Investing 21

Exit Outlook - IPO, Acquisitions 25

Sub Sector Analysis 28

Interesting Companies 46

Useful Links 54

Company List 57

Team 172

Page 4: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 20164

Sector Overview

Scope of report

This report covers companies which provide technology and solutions to develop new battery chemistry and manufacture batteries usingexisting proven technologies. This report also covers those companies which provide both grid locked as well as behind-the-meterEnergy Storage solutions and other battery management and charging solution providers such as chargers, battery banks and charginginfrastructures developers. Coverage has also been included for companies which are manufacturing innovative charging solutions suchas wireless charging solution providers and fuel cell and its component developers. This report however does not cover large establishedcell manufacturers and companies whose primary business line is not development of battery storage systems. Apart from them batteryresellers have been excluded, both in brick and mortar and online forms.

The scope of this report includes equity as well as debt funding received by the companies.

Business Model Description

Batteries Companies who are into either commercial manufacturing of batteries or developing new battery chemistry

Energy Storage SystemsDevelopers of either power storage systems using different forms of batteries or terrestrial energy storage systemsusing heat, pressure, kinetic energy etc. for Residential, C&I and Utility customers

Fuel CellCompanies developing and manufacturing fuel cells and its components as an energy generation and energy storagetechnology

Charging SolutionsCompanies providing charging solutions for end users in multiple forms, both battery and terrestrial based. Somecompanies facilitate access to charging, others provide charging.

Component DevelopersCompanies developing components such as electrodes, electrolytes and other materials for manufacturing ordeveloping energy storage products

Battery Management Solutions

Companies devising both software and hardware solutions for better battery management to optimize batteryperformance

Page 5: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

5

Page 6: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

63

55

60

69 70

61

11

0

16

32

48

64

80

2010 2011 2012 2013 2014 2015 2016

Nu

mb

er o

f C

om

pan

ies

6

YoY – Number of companies founded

Liotech Gogoro StoreDot LYON Superchargers Roost Staq Energy Cadenza Innovation

Sonnen uBeam UniEnergy Technologies Quantum Energy Storage EnSite Power Redback Technologies Evergen

Page 7: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 20167

Large Upcoming Sectors

No. of Companies Founded

Average Age

No. of Companies Funded

Business ModelTotal

FundingExample

50 Nov-2011 24Charging Solutions > Wireless Charging > Consumer and Power Electronics

$249M yanktechnologies.com

Yank Technologies2013, New York City

59 Jul-2009 28Energy Storage Systems > Behind-the-meter Storage > Power Storage

$280M wininertia.es

Win Inertia2007, La Rinconada

25 Nov-2004 17Energy Storage Systems > Grid Storage > Power Storage

$3.5B transpowerusa.com

TransPower2010, Poway

32 Jun-2002 17 Fuel Cell > Developers > PEM $438M trenergi.com

Trenergi2009, Franklin

44 May-2002 29Energy Storage Systems > Grid Storage > Terrestrial Storage

$705M whirlnrg.com

Whirl Energy2010, San Francisco

31 Jan-2000 24Energy Storage Systems > Integrated Energy Storage > Power Storage

$1.0B xtremepower.com

Xtreme Power2004, Kyle

Page 8: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 20168

Niche Upcoming Sectors

No. of Companies Founded

Average Age

No. of Companies Funded

Business ModelTotal

FundingExample

15 Aug-2012 9Charging Solutions > Charging Network > Consumer and Power Electronics

$62M tryzappy.com

Zappy2015, New York City

9 Nov-2011 4Charging Solutions > Charging Network > Automotive

$180M ycharge.net

YCharge2014, Sofia

24 Jan-2009 13Energy Storage Systems > Integrated Energy Storage > Terrestrial Storage

$140M tessol.in

Tessol2013, Mumbai

29 May-2008 23 Batteries > Other Chemistries $773M zpowerbattery.com

ZPower Battery1996, Camarillo

22 Jun-2005 16 Batteries > Capacitors $246M store-dot.com

StoreDot2012, Herzliya

19 Feb-2004 12 Fuel Cell > Developers > Solid Oxide $1.0B wattfuelcell.com

Watt Fuel Cell2010, Port Washington

Page 9: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

9

Page 10: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201610

YoY – Number of Rounds and Total Funding

Note: The funding includes debt rounds also.

$634M

$1.0B

$1.2B $1.2B

$632M

$1.3B

$2.4B

$1.1B

$2.9B

54

8172

9189

120

147

138

118

0

28

56

84

112

140

168

0

500

1000

1500

2000

2500

3000

3500

2008 2009 2010 2011 2012 2013 2014 2015 2016

Nu

mb

er of R

ou

nd

sFu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

Funding Amount Number of Rounds

Page 11: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201611

YoY – Number of Rounds by Stage

13 13

25 2721

8

42 43

47

6569

63

2519

22

2624

27

0

28

56

84

112

140

2011 2012 2013 2014 2015 2016

Nu

mb

er o

f R

ou

nd

s

Seed Early Late

Page 12: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201612

YoY – Funding by Stage

$8M$7M

$11M$10M

$19M $2M

$338M

$214M $151M

$365M $352M $268M

$851M

$371M

$868M

$1.7B

$363M

$1.5B

0

500

1000

1500

2000

2500

2011 2012 2013 2014 2015 2016

Tota

l Fu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

Seed Early Late

Page 13: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201613

Average Ticket Size – Early Stage

$0.6M $0.5M $0.4M $0.4M$0.9M

$0.5M

$5.7M

$4.8M

$2.1M

$4.5M

$3.6M

$4.4M

$16.1M

$10.3M

$8.5M

$12.5M

$13.5M

$4.2M

0.0

4.0

8.0

12.0

16.0

20.0

2011 2012 2013 2014 2015 2016

Fun

din

g A

mo

un

t (i

n M

illio

ns)

Seed Series A Series B

Page 14: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201614

Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

alevo.comAlevo

(Martigny-ville, 2009)$700M PE Mar-2016 Undisclosed

byd.comBYD

(Shenzhen, 1995)$450M Series G Jul-2016 Samsung

gogoro.comGogoro

(Taipei, 2011)$130M Series B Nov-2015 Panasonic, National Development Fund

sonnenbatterie.deSonnen

(Wildpoldsried, 2010)$85M Series D Oct-2016 Envision Energy

chargepoint.comChargePoint

(Campbell, 2007)$50M Series F May-2016 Braemar Energy Ventures, Constellation, Statoil, Envision Ventures, Linse Capital

phinergy.comPhinergy

(Lod, 2008)$50M Series A Jan-2016 Alcoa

younicos.comYounicos

(Berlin, 2006)$50M PE Dec-2015 First Solar, GRUPOECOS

nexeon.co.ukNexeon

(Abingdon, 2006)$44M Series E May-2016 Imperial Innovations, Invesco, Woodford Investment Management

Page 15: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201615

Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

sunverge.comSunverge Energy

(San Francisco, 2009)$37M Series C Feb-2016 AGL Energy, Australian Renewable Energy Agency, SBCVC, Siemens Financial Services

aquionenergy.comAquion Energy

(Pittsburgh, 2008)$33M Series E Jan-2016 Undisclosed

exide.comExide Technologies

(Milton, 1888)$31M

Grant (prize

money)Jun-2016 United States Department of Defense

uetechnologies.com

UniEnergy Technologies

(Mukilteo, 2012)$25M Series B Dec-2015 Orix Capital Corporation

eosenergystorage.comEos Energy Storage

(New York City, 2007)$23M Series C Oct-2016 Undisclosed

stem.comStem

(Millbrae, 2009)$23M Series C May-2016 Mithril

greensmithenergy.comGreensmith Energy

(Rockville, 2009)$18M Series C Dec-2015 E.on, American Electric Power

skeletontech.comSkeleton Tech(Berlin, 2009)

$15M Series C Aug-2016 FirstFloor Capital, UP Invest, Harju Elekter Group

Page 16: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201616

Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

solidenergysystems.comSolidEnergy Systems

(Waltham, 2012)$12M Series B Jan-2016 Temasek

draysontechnologies.comDrayson Technologies

(London, 2007)$12M Series B May-2016 Lansdowne Partners, Woodford Investment Management

canadiansolar.comCanadian Solar(Guelph, 2001)

$10M Series C Jan-2016 IFC

staqenergy.comStaq Energy

(Louisville, 2015)$10M Series A May-2016 Undisclosed

viznenergy.comViZn Energy

(Columbia Falls, 2009)$10M Series C Apr-2016 Undisclosed

gaelectric.ieGaelectric

(Ringsend, 2004)$9M PE Aug-2016 European Union

cymbet.comCymbet

(Elk River, 2000)$9M Series E Dec-2015 Undisclosed

convergentep.com

Convergent Energy and Power

(New York City, 2011)$9M Series B May-2016 Undisclosed

Page 17: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201617

Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

itm-power.comITMPower

(Sheffield, 2004)$8M PE Feb-2016 Undisclosed

geli.netGeli

(San Francisco, 2011)$8M Series A Apr-2016 Shell Global

relicellbattery.com

Greenvision Technologies

(Bangalore, 2008)$8M Series A Apr-2016 Undisclosed

ilika.comIlika

(Chilworth, 2004)$8M PE Oct-2016 Undisclosed

silatronix.comSilatronix

(Madison, 2007)$8M Series B Jun-2016 hitachi chemical, Inabata

agmbatteries.comAGM Batteries(Thurso, 1997)

$8MGrant (prize

money)Jan-2016 The APC UK

abmeastafrica.comABM Kenya

(Nairobi, 1963)$7M PE Jun-2016 METAIR

redbacktech.comRedback Technologies

(Brisbane, 2015)$7M Series A Oct-2016 EnergyAustralia

Page 18: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201618

Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

unchartedplay.comUncharted Play

(New York City, 2011)$7M Series A May-2016 Kapor Capital, Magic Johnson, BBG Ventures

alveoenergy.comAlveo Energy

(Palo Alto, 2012)$7M Series B Mar-2016 NanoDimension Management

pluglesspower.comEvatran

(Wytheville, 2009)$6M Series B Dec-2015 Zhejiang VIE Science & Technology

chargeitspot.comChargeItSpot

(Philadelphia, 2012)$5M Series A Dec-2015 Robin Hood Ventures, Seedinvest, SoundBoard Angel Fund

temporalpower.comTemporal Power

(Mississauga, 2010)$5M

Grant (prize

money)Sep-2016 Sustainable Development Technology Canada

cadenzainnovation.comCadenza Innovation

(Oxford, 2016)$5M Series A Jul-2016 Golden Seeds, Connecticut Innovations, Scale Investors

brightvolt.comBrightVolt

(Redmond, 1998)$5M Series B Sep-2016 New Science Ventures

elixwireless.comELIX Wireless

(Vancouver, 2013)$5M Series A Sep-2016 Chongqing Zongshen Power Machinery Co Ltd (001696)

Page 19: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201619

Funnel view of Sector

Percent of Previous

58%

62%

43%

117

87

136

313

505

869

0 200 400 600 800 1000

M&A & IPO

Late

Series B

Series A

Funded

Founded

Number of Companies

Page 20: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

20

Page 21: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201621

Most Active Investors in Sector

29

12

9 9 98

7 76 6

0

7

14

21

28

35

Department ofEnergy (US)

Intel Capital Conduit Ventures Khosla Ventures KPCB In-Q-Tel Braemar EnergyVentures

Draper FisherJurvetson

ATEL CapitalGroup

NYSERDA

Tota

l Nu

mb

er o

f R

ou

nd

s

Wildcat Discovery Technologies

Lilliputian Systems

PolyFuel Sakti3 Lilliputian Systems Protonex PowerGenix Prudent Energy Ioxus Ioxus

SustainX ZPower Battery Pemeas LightSail Energy Primus Power SkyBuilt Power Ioxus Nano Tune Primet Precision Watt Fuel Cell

Page 22: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201622

Where are Top Investors investing

Page 23: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201623

Top Investor by Stage of Entry

Page 24: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

24

Page 25: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201625

Top IPOs in last three years

IPO Date Company OverviewFunding Amount

Jun-2016 alelion.comAlelion Energy Systems

(Moelndal, 2006)

Lithium Ion battery manufacturerFouriertransform, Pegroco Invest -

Jun-2015 energizer.comEnergizer

(St. Louis, 1896)

Portable battery manufacturer-

Apr-2015 electropowersystems.com

Electro Power Systems(Paris, 2005)

Energy Storage solutions for grid operators360 Capital Partners, ACG Management $6.9M

Jul-2014 intelligent-energy.comIntelligent Energy

(Loughborough, 2001)

Develops PEMfuel cellStanford University, GIC, Turquoise $217M

Mar-2014 energous.comEnergous

(San Jose, 2012)

Wireless charging technology$5.5M

Dec-2013 aleees.comAleees

(Taoyuan City, 2005)

Lithium battery cathode materials and electric busesGSR Ventures, GRC SinoGreen Fund -

Page 26: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201626

Major Acquisitions in last one year

Page 27: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

27

Page 28: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201628

November 2016Tracxn BlueBox: Energy Storage870 companies in the sector, 316 funded in last 5 years, $3.9B invested in 2015/16 (YTD)

Page 29: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201629

Top Business Models by Funding

$4.6B

$3.7B

$2.0B

$1.2B

$0.4B$0.2B

0.0

1.0

2.0

3.0

4.0

5.0

Energy Storage Systems Batteries Fuel Cell Charging Solutions Component Developer Battery Management

Tota

l Fu

nd

ing

Am

ou

nt

(in

Bill

ion

s)

# Cos. 183 249 131 200 47 58

Avg. Age Jul-05 Jan-99 Aug-02 Feb-10 Feb-00 Sep-06

Alevo Boston Power Bloom Energy NRG Energy Nexeon Younicos

BYD A123 Systems Intelligent Energy GogoroWildcat Discovery

TechnologiesLucid

Page 30: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201630

Energy Storage Systems – Business Model Description

Page 31: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201631

Energy Storage Systems – Entrepreneur Activity and Investment Trend

Page 32: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201632

Energy Storage Systems – Most Funded Companies

Page 33: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201633

Batteries – Business Model Description

Page 34: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201634

Batteries – Entrepreneur Activity and Investment Trend

Page 35: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201635

Batteries – Most Funded Companies

Page 36: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201636

Fuel Cell – Business Model Description

Page 37: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201637

Fuel Cell – Entrepreneur Activity and Investment Trend

Page 38: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201638

Fuel Cell – Most Funded Companies

Page 39: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201639

Charging Solutions – Business Model Description

Page 40: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201640

Charging Solutions – Entrepreneur Activity and Investment Trend

Page 41: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201641

Charging Solutions – Most Funded Companies

Page 42: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201642

Component Developer – Business Model Description

Page 43: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201643

Component Developer – Entrepreneur Activity and Investment Trend

Page 44: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201644

Component Developer – Most Funded Companies

Page 45: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

45

Page 46: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201646

Interesting Unfunded and Seed Companies

Curated list of companies by the sector analyst are defined as Interesting

Company Overview Business ModelTotal

Funding

Tanktwo(2012, Vantaa)

Battery technology for electric vehiclesBatteries > Lithium-Ion -

Humavox(2010, Kfar Saba)

Near-field RF based wireless charging platformCharging Solutions > Wireless Charging > Consumer and Power Electronics

-

Ampy(2013, Evanston)

Battery pack that's charged by movementClean Energy Trust, G2T3V, Newgen Venture Partners

Charging Solutions > Plug-in Charging > Consumer and Power Electronics

$875K

Cumulus Energy Storage(2012, Rotherham)

Grid level energy storage solutions Energy Storage Systems > Grid Storage > Power Storage

$404K

Page 47: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201647

Interesting Series A Companies

Page 48: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201648

Interesting Series B Companies

Page 49: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201649

Interesting Late Stage Companies

Page 50: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201650

Interesting Late Stage Companies

Page 51: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201651

Top Funded Deadpooled Companies

Page 52: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201652

Top Funded Deadpooled Companies

Page 53: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

53

Page 54: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201654

Useful Links

Slide Title Content Platform Link

List of All Companies in readable format Companies Link

Top investments in last one year Investment Trend Link

Top IPOs in last three years Exit Outlook - IPO, Acquisitions Link

Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link

Batteries – Most Funded Companies Sub Sector Understand Link

Energy Storage Systems – Most Funded companies Sub Sector Understand Link

Component Developer – Most Funded Companies Sub Sector Understand Link

Charging Solutions – Most Funded Companies Sub Sector Understand Link

Fuel Cell – Most Funded companies Sub Sector Understand Link

Battery Management – Most Funded companies Sub Sector Understand Link

Top Funded Deadpooled Companies Companies Link

Page 56: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

56

Page 57: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201657

Energy Storage – Company List

Energy Storage Systems

Batteries Fuel Cell Charging Solutions

Component Developer

Battery Management

505 FUNDED COMPANIES AND 364 UNFUNDED COMPANIES

COVERS THE FOLLOWING SECTORS

Page 58: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201658

Energy Storage Systems (1/23)Company Overview Business Model Total Funding

Sonnen(2010, Wildpoldsried)

Energy storage system providerseCAPITAL, Munich Venture Partners, GE Ventures, Inven Capital, SET Ventures, Envision Energy

Behind-the-meter Storage > Power Storage

$97.7M

Green Charge(2009, Santa Clara)

Energy Storage providers for Non-domestic usersTIP Capital, K Road DG

Behind-the-meter Storage > Power Storage

$66M

FlexGen Power Systems(2009, Houston)

Develops technology of ultracapacitores, Li-ion and Ni-Zn battriesGE, Altira Group, Caterpillar, GE Ventures

Behind-the-meter Storage > Power Storage

$25.5M

Acumentrics(1994, Westwood)

UPS and Fuel Cell developer for Military useChevron, Department of Energy (US), BIRD Foundation, Clean Energy Venture Group

Behind-the-meter Storage > Power Storage

$21M

Staq Energy(2015, Louisville)

Distributed Energy Storage solution providerBehind-the-meter Storage > Power Storage

$10M

Eguana Technologies(1999, Calgary)

Manufactures inverters and storage devicesDoughty Hanson

Behind-the-meter Storage > Power Storage

$8.5M

SkyBuilt Power(2002, Arlington)

Off-grid power solutions for off-road terrainGamesa, In-Q-Tel

Behind-the-meter Storage > Power Storage

$5.9M

SimpliPhi Power(2002, Ojai)

Battery Backup Solution providerBehind-the-meter Storage > Power Storage

$3.5M

Go to BM List >> Batteries

Page 59: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201659

Energy Storage Systems (2/23)Company Overview Business Model Total Funding

Powervault(2012, London)

Energy storage integrated with solarClimate-KIC, Sustainable Ventures, UK Government, London Co-Investment Fund, Green Angel Syndicate, Future Matters

Behind-the-meter Storage > Power Storage

$3.5M

Earl Energy(2009, Virginia Beach)

Off-Grid power solutions for Defense useBehind-the-meter Storage > Power Storage

$3.2M

MicroGen Systems(2007, Rochester)

Energy harvesting devices and sensors based on Piezo-MEMS technologyXTRION N.V.

Behind-the-meter Storage > Power Storage

$2.6M

Ferroamp Elektronik(2010, Spanga)

Smart Energy Management system developerAlmi Invest, KIC InnoEnergy, Pacific Power

Behind-the-meter Storage > Power Storage

$1.75M

Volterion(2014, Dortmund)

Redox Flow battery developer for behind-the-meter useFraunhofer Venture

Behind-the-meter Storage > Power Storage

$1.4M

Gridless Power(2010, Collingswood)

Battery pack for off-grid applicationsBehind-the-meter Storage > Power Storage

$465k

Northern Reliability(2007, Waitsfield)

Experts in power solutions and energy storageVermont Center for Emerging Technologies, Vermont Sustainable Jobs Fund

Behind-the-meter Storage > Power Storage

$355k

Incell International(2004, Kista)

Battery system for telecom application and micro-gridsBehind-the-meter Storage > Power Storage

$350k

Go to BM List >> Batteries

Page 60: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201660

Energy Storage Systems (3/23)Company Overview Business Model Total Funding

Totus Power(2013, San Francisco)

Portable Battery packsStart-Up Chile, Singularity Education Group, Impact Engine

Behind-the-meter Storage > Power Storage

$125k

Swell Energy(2014, Santa Monica)

Reseller and installer of behind-the-meter battery solutionsBehind-the-meter Storage > Power Storage

Moixa(2006, London)

Behind-the-meter Energy Storage system developers for home and commercial useInnovate UK

Behind-the-meter Storage > Power Storage

Solutions From Science(2010, Fulton)

Solar and hybrid energy storage solutions for domestic and off-road useBehind-the-meter Storage > Power Storage

SunRunr(2004, Virginia)

Portable solar power plant with storage systemsBehind-the-meter Storage > Power Storage

Freedom Won(2014, Roodepoort)

Home based energy storage systems and EV developerBehind-the-meter Storage > Power Storage

Mattro Mobility(2006, Schwaz)

Off-road electric mobility solutionsBehind-the-meter Storage > Power Storage

Spectral Utilities(2015, Amsterdam)

Power Storage Systems for off-grid and micro-grid usageBehind-the-meter Storage > Power Storage

Go to BM List >> Batteries

Page 61: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201661

Energy Storage Systems (4/23)

Go to BM List >> Batteries

Page 62: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201662

Energy Storage Systems (5/23)

Go to BM List >> Batteries

Page 63: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201663

Energy Storage Systems (6/23)

Go to BM List >> Batteries

Page 64: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201664

Energy Storage Systems (7/23)

Go to BM List >> Batteries

Page 65: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201665

Energy Storage Systems (8/23)

Go to BM List >> Batteries

Page 66: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201666

Energy Storage Systems (9/23)

Go to BM List >> Batteries

Page 67: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201667

Energy Storage Systems (10/23)

Go to BM List >> Batteries

Page 68: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201668

Energy Storage Systems (11/23)

Go to BM List >> Batteries

Page 69: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201669

Energy Storage Systems (12/23)

Go to BM List >> Batteries

Page 70: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201670

Energy Storage Systems (13/23)

Go to BM List >> Batteries

Page 71: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201671

Energy Storage Systems (14/23)

Go to BM List >> Batteries

Page 72: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201672

Energy Storage Systems (15/23)

Go to BM List >> Batteries

Page 73: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201673

Energy Storage Systems (16/23)

Go to BM List >> Batteries

Page 74: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201674

Energy Storage Systems (17/23)

Go to BM List >> Batteries

Page 75: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201675

Energy Storage Systems (18/23)

Go to BM List >> Batteries

Page 76: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201676

Energy Storage Systems (19/23)

Go to BM List >> Batteries

Page 77: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201677

Energy Storage Systems (20/23)

Go to BM List >> Batteries

Page 78: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201678

Energy Storage Systems (21/23)

Go to BM List >> Batteries

Page 79: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201679

Energy Storage Systems (22/23)

Go to BM List >> Batteries

Page 80: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201680

Energy Storage Systems (23/23)

Go to BM List >> Batteries

Page 81: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201681

Batteries (1/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 82: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201682

Batteries (2/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 83: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201683

Batteries (3/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 84: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201684

Batteries (4/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 85: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201685

Batteries (5/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 86: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201686

Batteries (6/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 87: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201687

Batteries (7/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 88: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201688

Batteries (8/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 89: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201689

Batteries (9/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 90: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201690

Batteries (10/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 91: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201691

Batteries (11/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 92: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201692

Batteries (12/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 93: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201693

Batteries (13/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 94: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201694

Batteries (14/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 95: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201695

Batteries (15/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 96: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201696

Batteries (16/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 97: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201697

Batteries (17/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 98: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201698

Batteries (18/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 99: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 201699

Batteries (19/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 100: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016100

Batteries (20/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 101: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016101

Batteries (21/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 102: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016102

Batteries (22/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 103: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016103

Batteries (23/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 104: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016104

Batteries (24/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 105: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016105

Batteries (25/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 106: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016106

Batteries (26/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 107: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016107

Batteries (27/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 108: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016108

Batteries (28/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 109: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016109

Batteries (29/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 110: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016110

Batteries (30/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 111: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016111

Batteries (31/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 112: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016112

Batteries (32/32)

Energy Storage

Systems << Go to BM List >> Fuel Cell

Page 113: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016113

Fuel Cell (1/17)

Batteries << Go to BM List >> Charging Solutions

Page 114: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016114

Fuel Cell (2/17)

Batteries << Go to BM List >> Charging Solutions

Page 115: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016115

Fuel Cell (3/17)

Batteries << Go to BM List >> Charging Solutions

Page 116: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016116

Fuel Cell (4/17)

Batteries << Go to BM List >> Charging Solutions

Page 117: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016117

Fuel Cell (5/17)

Batteries << Go to BM List >> Charging Solutions

Page 118: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016118

Fuel Cell (6/17)

Batteries << Go to BM List >> Charging Solutions

Page 119: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016119

Fuel Cell (7/17)

Batteries << Go to BM List >> Charging Solutions

Page 120: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016120

Fuel Cell (8/17)

Batteries << Go to BM List >> Charging Solutions

Page 121: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016121

Fuel Cell (9/17)

Batteries << Go to BM List >> Charging Solutions

Page 122: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016122

Fuel Cell (10/17)

Batteries << Go to BM List >> Charging Solutions

Page 123: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016123

Fuel Cell (11/17)

Batteries << Go to BM List >> Charging Solutions

Page 124: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016124

Fuel Cell (12/17)

Batteries << Go to BM List >> Charging Solutions

Page 125: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016125

Fuel Cell (13/17)

Batteries << Go to BM List >> Charging Solutions

Page 126: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016126

Fuel Cell (14/17)

Batteries << Go to BM List >> Charging Solutions

Page 127: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016127

Fuel Cell (15/17)

Batteries << Go to BM List >> Charging Solutions

Page 128: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016128

Fuel Cell (16/17)

Batteries << Go to BM List >> Charging Solutions

Page 129: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016129

Fuel Cell (17/17)

Batteries << Go to BM List >> Charging Solutions

Page 130: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016130

Charging Solutions (1/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 131: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016131

Charging Solutions (2/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 132: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016132

Charging Solutions (3/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 133: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016133

Charging Solutions (4/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 134: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016134

Charging Solutions (5/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 135: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016135

Charging Solutions (6/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 136: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016136

Charging Solutions (7/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 137: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016137

Charging Solutions (8/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 138: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016138

Charging Solutions (9/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 139: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016139

Charging Solutions (10/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 140: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016140

Charging Solutions (11/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 141: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016141

Charging Solutions (12/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 142: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016142

Charging Solutions (13/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 143: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016143

Charging Solutions (14/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 144: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016144

Charging Solutions (15/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 145: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016145

Charging Solutions (16/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 146: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016146

Charging Solutions (17/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 147: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016147

Charging Solutions (18/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 148: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016148

Charging Solutions (19/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 149: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016149

Charging Solutions (20/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 150: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016150

Charging Solutions (21/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 151: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016151

Charging Solutions (22/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 152: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016152

Charging Solutions (23/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 153: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016153

Charging Solutions (24/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 154: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016154

Charging Solutions (25/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 155: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016155

Charging Solutions (26/26)

Fuel Cell << Go to BM List >>Component

Developer

Page 156: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016156

Component Developer (1/6)

Charging

Solutions << Go to BM List >>

Battery

Management

Page 157: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016157

Component Developer (2/6)

Charging

Solutions << Go to BM List >>

Battery

Management

Page 158: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016158

Component Developer (3/6)

Charging

Solutions << Go to BM List >>

Battery

Management

Page 159: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016159

Component Developer (4/6)

Charging

Solutions << Go to BM List >>

Battery

Management

Page 160: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016160

Component Developer (5/6)

Charging

Solutions << Go to BM List >>

Battery

Management

Page 161: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016161

Component Developer (6/6)

Charging

Solutions << Go to BM List >>

Battery

Management

Page 162: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016162

Battery Management (1/8)

Component

Developer << Go to BM List

Page 163: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016163

Battery Management (2/8)

Component

Developer << Go to BM List

Page 164: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016164

Battery Management (3/8)

Component

Developer << Go to BM List

Page 165: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016165

Battery Management (4/8)

Component

Developer << Go to BM List

Page 166: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016166

Battery Management (5/8)

Component

Developer << Go to BM List

Page 167: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016167

Battery Management (6/8)

Component

Developer << Go to BM List

Page 168: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016168

Battery Management (7/8)

Component

Developer << Go to BM List

Page 169: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016169

Battery Management (8/8)

Component

Developer << Go to BM List

Page 170: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016

Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

170

Page 171: Tracxn Research — Energy Storage Landscape, November 2016

Energy Storage Report – November 2016171

Team

Abhyudai Gupta

Lead Analyst, Energy

Pratik Kundu

Senior Analyst, Energy


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