Corporate investors continue to be bullish about investing in the energy transition, even into 2022.

Corporate investments in energy-focused startups rose 42% in the 2021, from 127 rounds in 2020 to 181 by the end of 2021. The estimated total dollars in those rounds increased four times over from $3.25bn in 2020 to $13.3bn last year.

That pace has not subsided in 2022 despite a bearish investment market overall. By the end of August this year we had already tracked 184 rounds (slightly more than in all of 2021), worth an estimated total of $12.82bn. Valuations of such enterprises appear to be still on the rise despite a prevalent risk-off attitude across asset classes. The other possibility is that many energy startups have simply reached the point of raising later stage rounds at higher valuations.

In the full energy report:

Energy deals continue to boom despite…

Kaloyan Andonov

Kaloyan Andonov is head of analytics at Global Corporate Venturing.