CB-Insights-能源行业状况报告-关于私营市场能源公司交易、融资和退出的全球数据和分析（英）-2021-150页_3mb
报告摘要
State of Energy 2021 Summary
Core Content
The State of Energy 2021 report provides a comprehensive overview of the global private-market energy sector, focusing on dealmaking, funding, and exits. It highlights the significant growth in investment, the rise of unicorns, and the increasing role of large-scale funding rounds in scaling up new and established energy technologies.
Key Trends
- Global Energy Funding Surge: In 2021, global energy funding reached $36B, a 260% increase compared to 2020. This growth was driven by a 127% increase in the average deal size, which reached $50M.
- Mega-Rounds Dominance: 67 mega-rounds (deals worth $100M+) accounted for 75% of all energy funding, with $28B raised from these rounds. Nearly 10% of quarterly deals in Q4'21 were mega-rounds.
- Unicorn Growth: The number of energy unicorns reached 9 by the end of 2021, up 50% from 2020. 7 out of 9 unicorns raised $8B in 2021, with $38M being the average deal size for asset/investment management investors.
- Renewable Energy Funding: Renewable energy tech saw a 295% increase in funding, reaching $8.7B or 24% of total energy funding. Q4'21 alone accounted for 4x the funding of the previous year.
- Energy Storage Dominance: Energy storage accounted for 50% of all energy funding, with 31 mega-rounds totaling $18B. There were 25 energy storage IPOs and SPACs, indicating strong public market interest.
- Hydrogen Tech Growth: European hydrogen tech funding surged in Q4'21, with $308M raised, a 1085% increase compared to the previous quarter. This reflects the EU Climate Law's impact.
- Carbon Capture, Storage, & Utilization (CCUS): Early-stage CCUS companies received 71% of all energy deals, signaling a growing interest in this area. However, it is still in the early stages of development.
- Regional Breakdown:
- The US led in both deals and funding in Q4'21.
- Asia and Europe saw smaller dips in funding but still contributed significantly.
- Asia retained a strong presence in early-stage deals.
Key Insights
- Investor Shift: Asset/investment management firms are increasingly investing in energy, with a 280% increase in average deal size compared to 2020.
- Deal Size Trends: The average deal size for all investors increased by 127%, indicating a maturing market with larger investments.
- Exit Trends: Global exits in 2021 doubled, with M&A and IPOs seeing increased activity, while SPACs leveled off. The US accounted for 50% of all global exits in Q4'21.
Top Deals
Q4'21 Top Equity Deals
| Rank | Company | Round Amount | Round Date | Investors | Country |
|---|---|---|---|---|---|
| 1 | Commonwealth Fusion Systems | $1.8B | Series B 2021-12-01 | Tiger Global Management, Breakthrough Energy Ventures, Eni Next, Future Ventures, Hostplus | United States |
| 2 | SVOLT Energy | $945M | Series B - II 2021-12-13 | CDH Investments, Han's Laser, PICC Capital, PreIPO, Shinye Automotive Lighting | China |
| 3 | Meike Solar | $189M | Series B 2021-12-20 | Beijing Financial Street Capital Operation Center, Cloudview Capital, China Merchants Capital, CCB Investment, Huaneng Capital | China |
| 4 | Persefoni | $101M | Series B 2021-10-28 | Prelude Ventures, The Rise Fund, NGP Energy Technology Partners, Sallyport Investments, Alumni Ventures Group | United States |
| 5 | ZE Energy | $45M | Series B 2021-11-25 | Demeter Partners, EverWatt, High-Tech Grunderfonds, Ze Way Invest, Marguerite | France |
| 6 | Titan AES | $33M | Series B 2021-11-16 | HG Ventures, Energy Innovation Capital, Doral Energy-Tech Ventures, Fortistar, GS Energy | United States |
| 7 | Xage Security | $30M | Series B 2021-12-30 | PIVA, City Light Capital, GE Ventures, March Capital Partners, Saudi Aramco Energy Ventures | United States |
| 8 | Comgy | $29M | Series B 2021-11-09 | EWE, BonVenture Group, MOMENI Group, Rivus Capital, Swiss Life Asset Managers | Germany |
| 9 | AiDash | $27M | Series B 2021-10-13 | G2VP, Benhamou Global Ventures, National Grid Partners | United States |
Q4'21 Top Seed/Angel Deals
| Rank | Company | Round Amount | Round Date | Investors | Country |
|---|---|---|---|---|---|
| 1 | Lumio | $110M | Seed 2021-12-14 | White Oak Commercial, Fiera Comox | United States |
| 2 | China Storage National Energy | $23M | Seed VC 2021-10-09 | CMB International Capital, CAS Star, Legend Star, Puhua Capital, Qinlin Ventures | China |
| 3 | P2X Solutions | $23M | Seed VC 2021-12-08 | Enersense International, Lifeline Ventures | Finland |
| 4 | Power Up The City | $13M | Seed 2021-12-29 | YINGKE PE | China |
| 5 | Hyme | $12M | Seed 2021-12-05 | Heartland | Denmark |
| 6 | Gazelle | $9M | Seed VC 2021-12-08 | Katapult Fund | Ireland |
| 7 | Enspired | $8M | Seed VC 2021-12-09 | 360 Capital Partners, Emerald Technology Ventures, EnBW New Ventures, Helen Ventures, i5invest Beteiligungs | Austria |
| 8 | ML One | $7M | Seed VC 2021-11-11 | Runtech Ventures | Russian Federation |
| 9 | Made of Air | $6M | Seed VC 2021-10-04 | TD Veen, EQT Partners, Tuesday Capital, Aksel Lund Svindal, Patrick Pichette | Germany |
Q4'21 Top Series A Deals
| Rank | Company | Round Amount | Round Date | Investors | Country |
|---|---|---|---|---|---|
| 1 | Lhyfe | $58M | Series A 2021-10-01 | Noria, Ouest Croissance, Ovive, SyDEV, Ocean Participations | France |
| 2 | TESVOLT | $45M | Series A 2021-11-16 | Liechtenstein Group, E.R. Capital Holdings, IBG Beteiligungsgesellschaft | Germany |
| 3 | Welion | $45M | Series A 2021-12-02 | Huawei Cloud, Xiaomi | China |
| 4 | Intellihot | $50M | Series A 2021-12-07 | Aegon Asset Management, Avenue Capital Group | United States |
| 5 | Greatpower | $47M | Series A 2021-12-23 | YINGKE PE | China |
| 6 | NexWafe | $29M | Series A 2021-10-13 | Reliance Industrial Investments and Holdings, Lynwood Capital Partners, Saudi Aramco Energy Ventures, EIT InnoEnergy | Germany |
| 7 | EV Connect | $27M | Series A 2021-12-08 | Ecosystem Integrity Fund, Mitsui & Co. | United States |
| 8 | INFORICH | $25M | Series A 2021-11-18 | P&E Directions, MRA Investments, Next Unicorn, NextBlue, SBS Holdings | Japan |
| 9 | Conamix | $4M | Series A 2021-11-24 | Volta Energy Technologies, Catalus Capital | United States |
Q4'21 Top Series C Deals
| Rank | Company | Round Amount | Round Date | Investors | Country |
|---|---|---|---|---|---|
| 1 | Gradiant | $105M | Series C 2021-12-10 | Schlumberger, Warburg Pincus | United States |
| 2 | Welion | $78M | Series C 2021-12-02 | Huawei Cloud, Xiaomi | China |
| 3 | Ample | $50M | Series C 2021-11-11 | Blackstone, Banco Santander | United States |
| 4 | Intellihot | $50M | Series C 2021-12-07 | Aegon Asset Management, Avenue Capital Group | United States |
| 5 | Greatpower | $47M | Series C 2021-12-23 | YINGKE PE | China |
| 6 | NexWafe | $29M | Series C 2021-10-13 | Reliance Industrial Investments and Holdings, Lynwood Capital Partners, Saudi Aramco Energy Ventures, EIT InnoEnergy | Germany |
| 7 | EV Connect | $27M | Series C 2021-12-08 | Ecosystem Integrity Fund, Mitsui & Co. | United States |
| 8 | Qnergy | $16M | Series C 2021-11-15 | OGCI Climate Investments, Tene Capital | United States |
| 9 | UPDATER | $9M | Series C 2021-10-29 | Japan Finance Corporation, Mizuho Capital, TBS Innovation Partners, Hulic, PROTO Ventures | Japan |
Q4'21 Top Series D Deals
| Rank | Company | Round Amount | Round Date | Investors | Country |
|---|---|---|---|---|---|
| 1 | Sunfire | $125M | Series D 2021-10-18 | Lightrock, Planet First Partners, Carbon Direct, HydrogenOne Capital | Germany |
| 2 | FirstElement Fuel | $105M | Series D 2021-11-08 | Air Water, Nikkiso, Bank of Tokyo-Mitsubishi UFJ, Japan Infrastructure Initiative | United States |
| 3 | AutoGrid Systems | $85M | Series D 2021-10-14 | SE Ventures, National Grid Partners, Shell Ventures, TotalEnergies Ventures, GS Futures | United States |
| 4 | Hesai Tech | $70M | Series D 2021-11-16 | CPE, Hillhouse Capital Management, Meituan Dianping, Xiaomi | China |
| 5 | INFORICH | $52M | Series D 2021-11-18 | P&E Directions, MRA Investments, Next Unicorn, NextBlue, SBS Holdings | Japan |
| 6 | Wildcat Discovery | $50M | Series D 2021-11-10 | 5AM Ventures, Presidio Partners | United States |
| 7 | Logical Buildings | $10M | Series D 2021-12-09 | Keyframe Capital | United States |
Q4'21 Top Series E+ Deals
| Rank | Company | Round Amount | Round Date | Investors | Country |
|---|---|---|---|---|---|
| 1 | Helion Energy | $500M | Series E 2021-11-05 | Sam Altman, Mithril Capital Management, Capricorn Investment Group, Dustin Moskovitz | United States |
| 2 | ProLogium Technology | $326M | Series E 2021-10-29 | SoftBank China Venture Capital, dGav Capital, Primavera Capital Group | Taiwan |
| 3 | Augury | $180M | Series E 2021-10-26 | Insight Partners, Eclipse Ventures, Lerer Hippeau, Munich Re Ventures, Qualcomm Ventures | United States |
| 4 | GaN Systems | $150M | Series F 2021-11-18 | Fidelity Investments, BMW i Ventures, HG Semiconductor, Vitesse Technologies | Canada |
| 5 | General Fusion | $130M | Series E 2021-11-30 | Temasek, Bezos Expeditions, Business Development Bank of Canada, GIC, Thistledown Capital | Canada |
| 6 | Halio | $100M | Series E 2021-12-06 | Capricorn Investment Group, SK Holdings | United States |
| 7 | Natron Energy | $37M | Series E 2021-10-20 | +ND Capital | United States |
| 8 | Uptake | $30M | Series E 2021-12-28 | GreatPoint Ventures, Revolution Growth | United States |
| 9 | Modumetal | $15M | Series F 2021-10-28 | Atlas Innovate | United States |
Top Companies by Mosaic Score
| Rank | Company | Mosaic Score | Round Amount | Round Date | Investors | Country |
|---|---|---|---|---|---|---|
| 1 | Xage Security | 860 | $30M | Series B 2021-12-30 | PIVA, City Light Capital, GE Ventures, March Capital Partners, Saudi Aramco Energy Ventures | United States |
| 2 | Uptake | 840 | $30M | Series E 2021-12-28 | GreatPoint Ventures, Revolution Growth | United States |
| 3 | Augury | 830 | $180M | Series E 2021-10-26 | Insight Partners, Eclipse Ventures, Lerer Hippeau, Munich Re Ventures, Qualcomm Ventures | United States |
| 4 | AutoGrid Systems | 800 | $85M | Series D 2021-10-14 | SE Ventures, National Grid Partners, Shell Ventures, TotalEnergies Ventures, GS Futures | United States |
| 5 | ProLogium Technology | 790 | $326M | Series E 2021-10-29 | SoftBank China Venture Capital, dGav Capital, Primavera Capital Group | Taiwan |
| 6 | ShinZoom | 790 | $173M | Venture Capital 2021-12-15 | Shenzhen Capital Group | China |
| 7 | EV Connect | 780 | $27M | Series C 2021-12-08 | Ecosystem Integrity Fund, Mitsui & Co. | United States |
| 8 | GaN Systems | 770 | $150M | Series F 2021-11-18 | Fidelity Investments, BMW i Ventures, HG Semiconductor, Vitesco Technologies | Canada |
| 8 | INFORICH | 770 | $52M | Series D 2021-11-18 | P&E Directions, MRA Investments, Next Unicorn, NextBlue, SBS Holdings | Japan |
| 8 | Welion | 770 | $78M | Series C 2021-12-02 | Huawei Cloud, Xiaomi | China |
Top Unicorns by Valuation
| Rank | Company | Latest Valuation | Country |
|---|---|---|---|
| 1 | Northvolt | $9.1B | Sweden |
| 2 | SVOLT Energy | $6.5B | China |
| 3 | Redwood Materials | $3.7B | United States |
| 4 | Sila Nanotechnologies | $3.3B | United States |
| 5 | Uptake | $2.3B | United States |
| 6 | Uplight | $1.5B | United States |
| 7 | Hesai Tech | $1.0B | China |
| 7 | Augury | $1.0B | United States |
| 7 | EcoFlow | $1.0B | China |
Exit Trends
-
Global Exits Doubled: In 2021, global exits reached $12B, a 100% increase compared to 2020.
-
M&A and IPO Activity: Q4'21 saw increased M&A and IPO activity, while SPACs remained stable.
-
Top M&A Exits:
Rank Company Round Valuation Acquirer Country 1 Sunseap $816M EDP Renewables Singapore 2 Also Energy $695M Stem United States 3 Driivz $200M Gilbarco Veeder-Root Israel 4 Faradion $135M Reliance Industries United Kingdom 5 Earthly Labs $73M Chart Industries United States 6 Arcola Energy $40M Ballard Power Systems United Kingdom 7 Omnisens $20M Prysmian Group Switzerland 8 Aimubei $5M Rifeng Cables China -
Top IPOs:
Rank Company Round Valuation Country 1 Rivian $66.5B United States 2 CosMX Battery $2.5B China 3 Gelion $205M Australia 4 Entech Smart Energies $113M France 5 Fluence N/A United States 5 Forsee Power Solutions N/A France 5 Waga Energy N/A France -
Top SPACs:
Rank Company Round Valuation Select Investors Country 1 Heliogen $2.0B Athena Technology Acquisition United States 2 Wallbox $1.5B Kensington Capital Acquisition II Spain 3 Solid Power $1.2B Decarbonization Plus Acquisition III United States
Conclusion
The energy sector in 2021 experienced unprecedented growth, with record funding and deal sizes, a significant rise in the number of unicorns, and a surge in exits. The focus on renewable energy, energy storage, and hydrogen technology was prominent, driven by global sustainability goals and investor confidence. The US remained the dominant player in the energy market, while China and Europe also saw notable contributions. The increasing share of mega-rounds and the involvement of asset/investment management firms indicate a maturing market with more strategic and long-term investments.
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