UNIGRID Battery Secures $12 Million Collection 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 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 probably be a key enabler of widespread, distributed vitality 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 develop manufacturing and buyer success 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 vitality density sodium-ion batteries. Utilizing its proprietary alloy anode expertise, it addresses a vital 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 using crucial or rarer supplies reminiscent of lithium, cobalt, nickel, and copper, from its battery chemistry completely, as an alternative 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 want extra vitality storage. Storage that’s protected, inexpensive, and produced from ample sources. Our enterprise companion Bruis has been following UNIGRID’s journey for over a 12 months. The expertise surpasses trade requirements by way of vitality density and security metrics. The UNIGRID group {couples} the expertise breakthrough with industrial execution that we hardly ever see from startups at this stage,” said 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, 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 expertise 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 instantly scale its merchandise, avoiding the necessity for extremely personalized tools or the redesigning of instruments, which has been a barrier for numerous subsequent technology battery applied sciences. This has resonated effectively with prospects and system integrators on the lookout for speedy alternate options to Li-ion batteries.
Share this….
