This report includes the information of VC deals across the following Darcy Verticals for Q2 2023 (see Q1 2023 report here):

• Energy Transition (in Blue)
• Power & Utilities (In Green)

During the first quarter of the year the Darcy team gathered a total of 234 investment deals across the topic areas mentioned above, with the largest number of investments done in Seed rounds, and the largest amount of investment being from a Grant/Loan ($850 Million USD from the US DOE), though there is a large number of investments that come from undisclosed type of rounds as the graph below shows:

These investments spread all around the world with a clear leadership from the US and Europe with China, India, and Canada following close behind, as can be seen in the following map.

Taking a closer look, the companies under the Power & Utilities vertical received heavy investment that amounted to $7.4 billion ($1.2 billion more than the previous quarter) in the second quarter of the year. The technologies covered in this vertical include:

• Asset Management & Digitalization
• Distributed- and Behind-the-meter Resources
• Grid Scale Renewables & Storage
• Transportation Electrification

Falling behind P&U, the Energy Transition received a total of $1.7 billion ($700M more than the previous quarter) during this quarter for technologies in:

• Hydrogen
• CCUS + Voluntary Carbon Markets (VCM)
• Alternative Fuels
• Geothermal Energy
• Nuclear Energy

The following chart showcases the evolution of investments during the months of April, May and June.

Finally, from the top 10 investments of the quarter by investment round, 9 fall within our P&U vertical and 3 from our Energy Transition one, as can be seen below:

Stay tuned for more updates on CleanTech investments!