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Clean Energy Report

Q3 2023

Clean Energy Report

November 20, 2023

The era of battery energy megadeals 

Cleantech companies raised $4.5 billion in VC funding in Q3, making it a slightly depressed quarter compared with 2022 levels, according to our Q3 2023 Clean Energy Report. 

Nonetheless, battery energy storage and hydrogen startups are still bringing in the big bucks, driven by federal funding boosts and investor enthusiasm to address the bottlenecks likely to arise during the energy transition. Up rounds for startups Verkor, Electric Hydrogen, and Juniper Green Energy are just a few examples of the excitement rampant in those emerging spaces. 


Table of contents
Vertical update 3
Q3 2023 timeline 4
Clean energy landscape 5
Clean energy VC ecosystem market map 6
VC activity 7
Emerging opportunities 16
       Renewable energy health and maintenance 17
       Battery energy storage systems 18
Select company highlights 19
       PVcase 20
       Verdagy 22