Total power industry venture financing deals worth $4.5bn were announced globally in Q3 2022, led by $1.17bn venture financing of Sunwoda Electric Vehicle Battery, according to GlobalData’s deals database.

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The value marked a decrease of 19.4% over the previous quarter and a drop of 24.5% when compared with the last four-quarter average, which stood at $5.89bn.

Comparing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals worth $2.4bn in the period. At the country level, the China topped the list in terms of deal value at $2.05bn.

In terms of volumes, North America emerged as the top region for power industry venture financing deals globally, followed by Asia-Pacific and then Europe.

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The top country in terms of venture financing deals activity in Q3 2022 was the US with 74 deals, followed by China with 52 and Germany with 15.

In 2022, at the end of , venture financing deals worth $4.5bn were announced globally in power industry, marking an increase of 36.7% year on year.

venture financing deals in power industry in Q3 2022: Top deals

The top five venture financing deals in power industry accounted for 48.8% of the overall value during Q3 2022.

The combined value of the top five venture financing deals stood at $2.17bn, against the overall value of $4.5bn recorded for the quarter.

The top five power industry venture financing deals of Q3 2022 tracked by GlobalData were:

1) Broad Vision Funds, National Green Development Fund, Shenzhen Capital Group and Source Code Capital’s $1.17bn venture financing deal with Sunwoda Electric Vehicle Battery

2) The $364.6m venture financing of Gaojing Solar Technology by CICC Capital ManagementLimited, CITIC GoldStone Investment, Guangdong Yueke, Haitong Kaiyuan, HUA-MIN INVESTMENT and Walden International (China)

3) BP Ventures’s $250m venture financing deal with Blu-Smart Mobility

4) The $250m venture financing of TAE Technologies by D.C.), Chevron, Google, Reimagined Ventures, Sumitomoof Americas (Washington and TIFF Investment Management

5) Bill Gates, Canada Pension Plan Investment Board, Fine Structure Venture, Hanwha Power Systems, Khosla Ventures, Lightrock, Princeville Capital and Shell Ventures’s $140m venture financing deal with Mainspring Energy