August is usually a quiet month in Venture Capital, but this month saw at least five new investments in batteries, fuel cells, and energy storage:
- CFX Battery closed $5 million of a $27 million Series B, according to a regulatory filing spotted by PEHub. The firm builds primary and rechargeable lithium-ion batteries. Previous investors include CMEA Ventures, Harris & Harris, and USVP.
- ClearEdge Power builds fuel cell-based Combined Heat and Power (CHP) powered by propane or natural gas. They raised a $15 million Round E from Applied Ventures, Big Basin Ventures, the Kohlberg family, et al. PE Hub sighted this in a regulatory filing.
- Pragma, a PEM hydrogen fuel cell developer received about $600,000 in VC funding from Finaqui, Oséo Capital, et al.
- Seeo raised more than $8 million from Khosla Ventures, et al. The firm aspires to build rechargeable lithium-ion batteries based on solid polymer electrolyte technology licensed from LBNL.
- SustainX received $4 million from Polaris Venture Partners, RockPort Capital, the NSF, and Angeli Parvi for their compressed-air storage systems.
Energy storage events were the rage in August with lots of storage news from IBM Almaden, MegaWatt Storage Farms, and EPRI.
PG&E is looking for $25 million in stimulus funds to develop compressed air energy storage (CAES) as per this article from Jeff St. John.
And lastly, GTM Research just published a great report on Grid-Scale Energy Storage: Technologies and Forecast through 2015.

(Image from Argonne National Labs)




