Investment in Big Data, Artificial Intelligence, & Energy Blockchain Startups On the Rise
This growing investment in all things digitalization – including Big Data, artificial intelligence (AI), and blockchain – is reaching into every corner of the energy sector. For example, in an October 2017 report, accounting and business advisory firm BDO Global noted that mergers and acquisitions between energy/renewables enterprises and technology companies active in Big Data, artificial intelligence, etc. have been steadily increasing. Moreover, average deal size has jumped up significantly, from $500 million pre-2016 to $3.5 billion in Q2 2017.
The trend is similar and no less striking in the energy blockchain space as well. At EventHorizon 2018 earlier this year, Jules Besnainou of Cleantech Group noted that investments in energy-related blockchain projects had skyrocketed from less than $10 million in 2016 to $739 million across 53 deals in 2017. Q1 2018 alone saw $359 million, with record average deal size.