Disappointing fundraising in 2022
December was another disappointing month for battery materials fundraisings, with only US$475m raised, capping as it did a disappointing year. While fundraising in some of the markets which were underfunded in 2021 (such as graphite and cobalt) recovered in 2022, fundraising in both lithium and nickel, which had been expected to crack on, was down. Lithium was the sector that raised the most, but even so, fundraising was down 27% in 2022 at US$6.9bn, in a year when it needed to accelerate by c.30% for the sector to keep up with demand.
Topics
Cobalt
Debt
Earn-in
Equity
Fundraising
Grants
Graphite
Lithium
Nickel
Offtake
Project Finance
REE
Stake Sale