The global energy storage sector witnessed a 432% increase year-over-year in corporate funding, totaling $11.7 billion across 29 transactions, from $2.2 billion in 27 deals. The findings were published in Mercom Capital’s recently released Q1 2024 Funding and M&A Report for Storage and Grid. Compared to Q4 2023, funding surged by 216%, surpassing the $3.7 billion raised in 26 deals. Raj Prabhu, CEO and Co-Founder of Mercom Capital Group, said, “Two significant debt deals skewed the numbers higher this quarter. Yet, when we exclude these transactions, the figures are similar to Q1 2023.”