UNIGRID Battery Secures $12 Million Sequence A spherical
Cleantech San Diego member and Southern California Vitality 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 current investor Foothill Ventures. The funding will speed up and scale-up UNIGRID’s battery manufacturing to meet 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, industrial, and industrial markets. As a know-how chief on this house, UNIGRID already has commercial-scale orders, and can use the funds to broaden manufacturing and buyer achievement capabilities,” mentioned Darren H. S. Tan, CEO for UNIGRID Battery.
UNIGRID is among 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 allows it to exceed the vitality density of lithium iron phosphate (LFP) batteries.
- Eliminating the usage of crucial or rarer supplies corresponding to lithium, cobalt, nickel, and copper, from its battery chemistry fully, as an alternative utilizing solely considerable supplies.
- Attaining security and efficiency metrics that exceed that of LFP.
“To maintain up with intermittent renewables and to impress many end-applications, we want extra vitality storage. Storage that’s protected, reasonably priced, and constructed from considerable assets. Our enterprise associate Bruis has been following UNIGRID’s journey for over a yr. The know-how surpasses business requirements when it comes to vitality density and security metrics. The UNIGRID group {couples} the know-how breakthrough with industrial execution that we not often see from startups at this stage,” acknowledged Mona Alsubaei, Companion at Transition.
“The unprecedented efficiency demonstrated in UNIGRID’s sodium-ion batteries presents a novel alternative not solely within the stationary cupboard space, but in addition within the quick rising electrical mobility house, addressing core challenges of security, vast 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 typical Li-ion battery manufacturing infrastructure, together with off-the-shelf availability of supplies within the current provide chain. As such, the group presently works with battery manufacturing companions to right away scale its merchandise, avoiding the necessity for extremely custom-made tools or the redesigning of instruments, which has been a barrier for numerous subsequent technology battery applied sciences. This has resonated properly with prospects and system integrators searching for quick alternate options to Li-ion batteries.
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