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 power storage within the residential, industrial, and industrial markets. As a expertise chief on this area, UNIGRID already has commercial-scale orders, and can use the funds to increase manufacturing and buyer achievement capabilities,” stated Darren H. S. Tan, CEO for UNIGRID Battery.
UNIGRID is among the leaders in sodium-ion battery expertise innovation, specializing in:
- Growing excessive power density sodium-ion batteries. Utilizing its proprietary alloy anode expertise, it addresses a vital sodium-ion bottleneck, power density. The battery chemistry doubles the volumetric power density of sodium-ion and allows it to exceed the power density of lithium iron phosphate (LFP) batteries.
- Eliminating using essential or rarer supplies equivalent to lithium, cobalt, nickel, and copper, from its battery chemistry completely, as an alternative utilizing solely considerable supplies.
- Reaching security and efficiency metrics that exceed that of LFP.
“To maintain up with intermittent renewables and to affect many end-applications, we want extra power storage. Storage that’s secure, inexpensive, and created from considerable assets. Our enterprise companion Bruis has been following UNIGRID’s journey for over a yr. The expertise surpasses trade requirements when it comes to power density and security metrics. The UNIGRID crew {couples} the expertise breakthrough with industrial execution that we hardly ever see from startups at this stage,” acknowledged 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, 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 expertise is its drop-in compatibility with typical Li-ion battery manufacturing infrastructure, together with off-the-shelf availability of supplies within the present provide chain. As such, the crew at present 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 technology battery applied sciences. This has resonated properly with prospects and system integrators searching for instant alternate options to Li-ion batteries.
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