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Q1 2023
PitchBook Analyst Note: Grid Storage Beyond Lithium
January 6, 2023
Go with the (Redox) flow
In the battle for grid-scale battery dominance, who will emerge victorious? Lithium has proven to be far from perfect, but the alternatives also have their list of pros and cons with much to prove. With the first winter since Russia’s invasion of Ukraine approaching, threatening Europe’s energy security, the interest and investment in new energy technologies have never been higher.
Our analyst note from John MacDonagh dives deep into the figures, trends, and emerging technologies on the rise. What these alternatives are—and who the big players VCs are betting on—are all laid out.
Table of contents
In the battle for grid-scale battery dominance, who will emerge victorious? Lithium has proven to be far from perfect, but the alternatives also have their list of pros and cons with much to prove. With the first winter since Russia’s invasion of Ukraine approaching, threatening Europe’s energy security, the interest and investment in new energy technologies have never been higher.
Our analyst note from John MacDonagh dives deep into the figures, trends, and emerging technologies on the rise. What these alternatives are—and who the big players VCs are betting on—are all laid out.
Table of contents
| Key takeaways | 1 |
| Grid battery space VC activity | 2 |
| Need for grid-scale energy storage | 2 |
| Lithium-ion’s dominant technology | 4 |
| Alternative approaches | 5 |
| Select company highlights | 7 |
| Form Energy | 7 |
| e-Zinc | 8 |
| XL Batteries | 8 |
| Elestor | 9 |