UNIGRID Battery Secures $12 Million Collection A spherical
Cleantech San Diego member and Southern California Power 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 Collection 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 satisfy MWh-scale buyer orders within the electrical mobility and stationary storage markets.
“Superior sodium-ion batteries will likely be a key enabler of widespread, distributed power storage within the residential, business, and industrial markets. As a expertise chief on this house, 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 without doubt one of the leaders in sodium-ion battery expertise innovation, specializing in:
- Creating excessive power density sodium-ion batteries. Utilizing its proprietary alloy anode expertise, it addresses an important 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 the usage of important or rarer supplies reminiscent of lithium, cobalt, nickel, and copper, from its battery chemistry solely, as an alternative utilizing solely plentiful 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 protected, reasonably priced, and comprised of plentiful sources. Our enterprise accomplice 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 staff {couples} the expertise breakthrough with business execution that we hardly ever see from startups at this stage,” said Mona Alsubaei, Accomplice at Transition.
“The unprecedented efficiency demonstrated in UNIGRID’s sodium-ion batteries presents a singular alternative not solely within the stationary space for storing, but in addition within the quick rising electrical mobility house, addressing core challenges of security, large temperature operation and downward worth pressures of electrical autos,” famous Sangbin Ong, Managing Director at Ritz Enterprise Capital.
A key energy to UNIGRID’s expertise is its drop-in compatibility with standard Li-ion battery manufacturing infrastructure, together with off-the-shelf availability of supplies within the current provide chain. As such, the staff presently 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 numerous subsequent era battery applied sciences. This has resonated nicely with prospects and system integrators on the lookout for speedy alternate options to Li-ion batteries.
Share this….