Venture investments in “fragmented” energy storage technologies like batteries, flywheels, and fuel cells grew 74 percent to $709 million in 2007, a new study says.

The report by Lux Research described an investment theme whose technologies are shedding their teething pains and a market poised to grow by 55 percent over the next five years.

The report, “Alternative Power and Energy Storage, State of the Market Q2 2008: Making Sense of the Next Big Thing,” examined seven energy storage markets, including transportation and consumer electronics, and five technologies.

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