UNIGRID Battery Secures $12 Million Sequence A spherical
Cleantech San Diego member and Southern California Power Innovation Community firm UNIGRID Battery, a San Diego-based startup growing superior sodium-ion batteries, has introduced a profitable shut of an oversubscribed $12 Million Sequence A funding spherical. The financing was Co-led by Transition VC and Ritz Enterprise Capital and joined by new investor Union Sq. Ventures and present investor Foothill Ventures. The funding will speed up and scale-up UNIGRID’s battery manufacturing to satisfy MWh-scale buyer orders within the electrical mobility and stationary storage markets.
“Superior sodium-ion batteries can be a key enabler of widespread, distributed vitality storage within the residential, business, and industrial markets. As a know-how chief on this area, UNIGRID already has commercial-scale orders, and can use the funds to broaden manufacturing and buyer success capabilities,” stated Darren H. S. Tan, CEO for UNIGRID Battery.
UNIGRID is without doubt one of the leaders in sodium-ion battery know-how innovation, specializing in:
- Growing excessive vitality density sodium-ion batteries. Utilizing its proprietary alloy anode know-how, it addresses an important sodium-ion bottleneck, vitality density. The battery chemistry doubles the volumetric vitality density of sodium-ion and permits it to exceed the vitality density of lithium iron phosphate (LFP) batteries.
- Eliminating using vital or rarer supplies reminiscent of lithium, cobalt, nickel, and copper, from its battery chemistry totally, as a substitute utilizing solely ample supplies.
- Reaching security and efficiency metrics that exceed that of LFP.
“To maintain up with intermittent renewables and to impress many end-applications, we’d like extra vitality storage. Storage that’s secure, reasonably priced, and comprised of ample assets. Our enterprise accomplice Bruis has been following UNIGRID’s journey for over a 12 months. The know-how surpasses business requirements by way of vitality density and security metrics. The UNIGRID group {couples} the know-how breakthrough with business execution that we not often see from startups at this stage,” said Mona Alsubaei, Companion at Transition.
“The unprecedented efficiency demonstrated in UNIGRID’s sodium-ion batteries presents a singular alternative not solely within the stationary cupboard space, but additionally within the quick rising electrical mobility area, addressing core challenges of security, huge temperature operation and downward worth pressures of electrical autos,” famous Sangbin Ong, Managing Director at Ritz Enterprise Capital.
A key power to UNIGRID’s know-how is its drop-in compatibility with standard Li-ion battery manufacturing infrastructure, together with off-the-shelf availability of supplies within the present provide chain. As such, the group at the moment works with battery manufacturing companions to instantly scale its merchandise, avoiding the necessity for extremely custom-made tools or the redesigning of instruments, which has been a barrier for varied subsequent era battery applied sciences. This has resonated effectively with clients and system integrators searching for speedy alternate options to Li-ion batteries.
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