As the energy transition accelerates, the landscape of start-up funding is evolving, particularly in the energy storage sector. The impact of the recent downturns and the growing complexity of the capital stack means energy start-ups need to be ahead of the curve to secure funding in an ever-changing environment.From scaling energy technologies across diverse regulatory environments to the opportunities facing climate tech entrepreneurs today, the world of venture capital is changing and so must the strategies to ensure success. In todays’s episode, Philipp Emig, Senior Vice President at Picus Capital, joins Quentin to discuss how start-up get funded in the energy transition. Throughout the conversation, you’ll hear about:The role of venture capital and early stage investing in climate tech and Picas Capital's focus in this.Trends in climate tech funding - from the decline in funding levels to the successes of battery and home energy control technologies.Differences between energy markets and comparisons of energy market development stages across regions.The importance of different types of investors at various stages of company growth.Grid-scale energy storage solutions and the potential for software-driven asset management in the energy sectorAbout our guestPicus Capital invest in early-stage technology ventures with a focus on energy & climate, fintech, enterprise infrastructure, generative ai, cybersecurity, healthcare, and enterprise application, specializing in Pre-Seed, Seed and Series A ventures. For more information on what Picus Capital do, check out their website.Philipp joined Picus Capital in 2021, where he focuses on energy & climate investments, as well as on pre-seed stage efforts. Prior to this, Philipp worked for McKinsey & Company in Munich and advised clients across Europe in the energy, mobility and process industry mainly on innovation, strategy and sustainability topics.About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Battery storage and renewable energy assets are only as effective as the systems that optimize them, and to do this, there needs to be clear and effective rules on how this is determined. Elexon is responsible for the Balancing & Settlement Code, or BSC, a document outlining the rules of the balancing mechanism and imbalance pricing in Great Britain. With the rise of smaller, aggregated assets and the push towards net zero, the energy landscape is changing fast, and things like the BSC need to adapt too. In this episode of Transmission, we’re joined by Peter Stanley, CEO of Elexon, to explore the critical role of optimisation and trading in energy markets. From day-to-day operations to long-term strategy, Peter shares insights on how Elexon supports grid flexibility, maximizes asset value, and navigates a rapidly evolving energy landscape. Over the conversation you’ll hear about:The role of Elexon, how the company operates and the key processes it manages.Detailed breakdown of what the settlement process looks like in Great Britain.The impact of changing grid dynamics on Elexon's operations.Elexon’s emerging role in facilitating local distributed flexibility markets.Peter’s outlook on where optimization is headed in a changing energy landscape.Mentioned in the episodePeter highlights the fundraising efforts of Nyah & Danielle Lock who are taking part in the South West Coast 50 Ultra Challenge 2025, raising money for the Mardon Neuro-Rehabilitation Centre in Exeter. You can find more information and they're just giving page here.About our guestWorking at the heart of the GB energy industry, Elexon oversee The Balancing and Settlement Code (BSC),a legal contract all electricity participants must enter into in order to participate in the electricity market. For more information on what Elexon do, head to their website.Peter Stanley is Chief Executive Officer of Elexon, joining Elexon's Executive team in 2016 and serving as Chief Operating Officer before assuming the role of CEO in 2023.With over 35 years of experience in the electricity industry, Peter has a strong background in driving technology and data-focused transformations within the energy sector. About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Ravi Sharma, Director of Development for Energy Storage at Deriva Energy, shares his expertise in navigating the complex landscape of battery storage development in the U.S. He highlights the unique strategies for site selection and the critical role of risk management. The conversation delves into the challenges of permitting, interconnection costs, and the competitive landscape for energy sites. Ravi also emphasizes the importance of teamwork and collaboration in overcoming hurdles and ensures project success while addressing the evolving dynamics of energy storage.

Jim Mills, Managing Director at Adaptogen Capital, dives into the transformative world of battery storage in the energy sector. He highlights how private equity has become a key player in scaling battery infrastructure, enabling the integration of renewables. Jim discusses challenges in financing and technological advancement, as well as emerging trends like co-located storage. He emphasizes the importance of regulatory adjustments and market signals to align energy generation with consumer needs, painting a promising picture for a net-zero future.

Italy is rapidly emerging as a major market for battery energy storage - but, unlike other regions, its approach has been highly structured. Instead of relying on pure merchant risk, Italy’s system operator is leading capacity auctions to accelerate deployment. So, how does this impact investment, and what does it mean for developers looking to enter the market?This week, Quentin Scrimshire is joined by Mahael Fedele, CEO & Partner at Sphera Energy, to unpack what’s driving Italy’s battery boom. In this conversation, they explore how the new System Operator-led auction model is shaping investment decisions, what challenges developers face in securing grid connections, and whether the trend of shifting from development to long-term asset ownership is the right move.Does Italy’s approach to storage create a reliable foundation for growth, or could it ultimately slow down private investment? We dive into the risks and opportunities of this approach, what it means for the future of energy storage in Europe, and where Sphera Energy fits into all of this.In this episode, we cover:Why Italy’s structured capacity auctions differ from other European markets.The key challenges developers face in securing grid connections.Whether the shift from development to asset ownership makes sense in Italy.The role of long-duration storage and alternative chemistries.How Italy’s approach compares to the UK, the US, and other leading markets.About the GuestMahael Fedele is the CEO & Partner at Sphera Energy, a battery storage development company focused on large-scale projects in Italy and Germany. With over 15 years in renewables, he has worked across multiple global markets - including Europe, APAC, and the US.Before founding Sphera Energy, Mahael played key roles in delivering utility-scale projects and navigating complex regulatory environments. Today, his focus is on Italy, where Sphera Energy has become a leading player in the country’s evolving energy storage landscape.

In this engaging conversation, John Larkey, the Senior Vice President of Power Marketing at National Grid Renewables, shares his expertise in navigating the complexities of financing renewable energy projects. He discusses the shift from physical to financial trading and how corporate buyers are reshaping the power purchase landscape. The chat also delves into Virtual Power Purchase Agreements, the co-location of generation with large loads, and the urgent need for investments in transmission infrastructure, paving the way for a dynamic future in energy markets.

As the industry evolves, the role of battery storage is expanding beyond just wholesale trading. The demand for stability services such as synthetic inertia and reactive power are increasing as more renewables enter the grid. In this episode, we take a look Zenobē’s Blackhillock BESS project, the UK’s first large-scale battery storage project with a stability contract from National Grid. Feautring grid-forming inverters, it aims to provide crucial reactive power and inertia to support renewable energy integration.Please note: This episode was recorded January 9th, at which point the Blackhillock project was in the final stages of commissioning. At the point of publishing, Zenobē’s Blackhillock project is now operational.Tom Palmer, Head of Business Development in Network Infrastructure at Zenobē shares insights into the evolving landscape of battery storage, including the impact of grid constraints, investment outlook, and the role of stability services. Over the conversation, you’ll hear about:The 200MW/400MWh Black Hillock storage project: the UK’s largest battery storage facility and the first commercial deployment of grid-forming inverters.New stability contracts providing reactive power, inertia, and short circuit level.Evolution of battery storage market from frequency response to wholesale markets.The challenge of ‘skip rates’ and the impact they have on investment outlook in energy storage.Future pathways for storage, including co-location with renewable assets and policy shifts.About our guest Zenobē design, finance, build and operate battery solutions. Capturing renewable energy, balancing supply on the grid and transporting it to electric vehicles. Zenobē also focus on end-of-life repurposing of battery storage systems. Tom Palmer leads the business development team at Zenobē’s standalone storage and network infrastructure division. His team focuses on developing large-scale grid storage solutions, with a key emphasis on new revenue streams and the evolving business case for battery storage. About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.

Brandon Faber, Director at NORD/LB, shares his expertise in financing renewable energy, focusing on battery energy storage projects. He discusses the complexities of raising capital in this field, including how banks evaluate and structure financing. Brandon elaborates on the significance of tolling agreements and how merchant risk impacts lending decisions. He also highlights the relationship between solar energy and battery storage, while shedding light on the evolving landscape shaped by incentives from the Inflation Reduction Act.

Dr. Neil Kidner, Co-Founder and CSO at Adena Power, shares insights into the promising world of sodium-ion batteries. He discusses how sodium-based solid-state batteries can provide a safer and more sustainable alternative to lithium-ion technology. With challenges in lithium supply chains, sodium-ion may be the answer for large-scale grid storage. Neil emphasizes the importance of innovative materials, domestic supply chains, and engaging stakeholders to drive advancements in energy storage. He also explores the potential impact of these technologies on achieving net-zero emissions.

Shyam Srinivasan, CEO and Co-Founder of Zitara Technologies, specializes in advanced battery analytics and real-time edge monitoring for energy storage. He discusses how battery management systems' inaccuracies can lead to significant financial losses. Shyam explains the challenges of lithium iron phosphate batteries and the need for accurate data in energy trading. He advocates for a shift towards real-time edge computing, emphasizing its advantages over cloud analytics, and highlights essential data requirements for better procurement in the battery sector.