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 creating 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 meet MWh-scale buyer orders within the electrical mobility and stationary storage markets.
“Superior sodium-ion batteries shall be a key enabler of widespread, distributed vitality storage within the residential, industrial, and industrial markets. As a know-how chief on this area, UNIGRID already has commercial-scale orders, and can use the funds to develop manufacturing and buyer achievement capabilities,” stated 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 permits it to exceed the vitality density of lithium iron phosphate (LFP) batteries.
- Eliminating the usage of important or rarer supplies similar to lithium, cobalt, nickel, and copper, from its battery chemistry solely, as a substitute utilizing solely ample supplies.
- Attaining security and efficiency metrics that exceed that of LFP.
“To maintain up with intermittent renewables and to affect many end-applications, we’d like extra vitality storage. Storage that’s protected, reasonably priced, and comprised of ample assets. Our enterprise companion Bruis has been following UNIGRID’s journey for over a 12 months. The know-how surpasses business requirements when it comes to vitality density and security metrics. The UNIGRID staff {couples} the know-how breakthrough with industrial execution that we not often see from startups at this stage,” acknowledged Mona Alsubaei, Associate at Transition.
“The unprecedented efficiency demonstrated in UNIGRID’s sodium-ion batteries presents a novel alternative not solely within the stationary cupboard space, but additionally within the quick rising electrical mobility area, addressing core challenges of security, broad temperature operation and downward value pressures of electrical automobiles,” famous Sangbin Ong, Managing Director at Ritz Enterprise Capital.
A key energy 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 staff at the moment works with battery manufacturing companions to right away scale its merchandise, avoiding the necessity for extremely personalized gear or the redesigning of instruments, which has been a barrier for varied subsequent era battery applied sciences. This has resonated effectively with prospects and system integrators in search of instant options to Li-ion batteries.
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