Investors Charged Up about Batteries, Expect $6 Billion Sector by 2013
$600 million of venture capital funding has flowed into battery companies so far this year, up more than 20% compared to 2008. The new interest is fueled by the expectation the overall energy storage market will grow to a $60 billion industry by 2013, according to a new Lux Research report.
The VC money is flowing to a variety of established and start-up companies that are designing a wide array of systems to power CE devices (including mobile phones) as well as automobiles and utilities. Lux says the field is wide open among companies developing batteries for portable devices, citing the development at various companies of nickel-metal hydride (NiMH), nickel-zinc (NiZn), lithium-sulfur (Li-S) and lithium-air (Li-air) batteries as potential sources for lower-cost alternative power.