UNIGRID Battery Charges Ahead with $12 Million Funding Boost
June 20, 2024, 3:36 am
UNIGRID Battery, a San Diego-based company revolutionizing sodium-ion battery technology, has secured a hefty $12 million in Series A funding. Transition VC and Ritz Venture Capital spearheaded the investment, with Union Square Ventures and Foothill Ventures also jumping on board. This financial injection will turbocharge UNIGRID's battery production to meet the soaring demand in the electric mobility and stationary storage sectors.
UNIGRID is at the forefront of sodium-ion battery innovation, with a laser focus on three key areas:
1. Crafting high-energy density sodium-ion batteries that outshine the competition. By leveraging their cutting-edge alloy anode technology, UNIGRID has cracked the code on boosting energy density, surpassing even lithium iron phosphate (LFP) batteries.
2. Ditching rare and critical materials like lithium, cobalt, nickel, and copper in favor of abundant resources. This move not only streamlines production but also reduces environmental impact.
3. Achieving top-tier safety and performance benchmarks that leave LFP batteries in the dust.
One of UNIGRID's standout strengths lies in its seamless integration with existing lithium-ion battery manufacturing infrastructure. This compatibility, coupled with readily available materials in the supply chain, allows UNIGRID to swiftly scale up production without the need for costly custom equipment. This agility has struck a chord with customers and system integrators seeking immediate alternatives to traditional lithium-ion batteries.
In the words of UNIGRID Battery's CEO, Darren H. S. Tan, "Advanced sodium-ion batteries will be a game-changer for energy storage across residential, commercial, and industrial sectors. With commercial-scale orders already in the pipeline, this funding will propel us to expand our manufacturing capabilities and meet customer demands head-on."
Mona Alsubaei, a Partner at Transition VC, echoed this sentiment, praising UNIGRID's technology breakthroughs and commercial acumen. She noted, "The performance showcased by UNIGRID's sodium-ion batteries opens up exciting possibilities in both stationary storage and electric mobility markets, addressing critical challenges like safety, temperature resilience, and cost pressures in the EV space."
With this substantial funding boost, UNIGRID Battery is poised to lead the charge in the sodium-ion battery revolution, reshaping the energy storage landscape for a cleaner, more sustainable future.
UNIGRID is at the forefront of sodium-ion battery innovation, with a laser focus on three key areas:
1. Crafting high-energy density sodium-ion batteries that outshine the competition. By leveraging their cutting-edge alloy anode technology, UNIGRID has cracked the code on boosting energy density, surpassing even lithium iron phosphate (LFP) batteries.
2. Ditching rare and critical materials like lithium, cobalt, nickel, and copper in favor of abundant resources. This move not only streamlines production but also reduces environmental impact.
3. Achieving top-tier safety and performance benchmarks that leave LFP batteries in the dust.
One of UNIGRID's standout strengths lies in its seamless integration with existing lithium-ion battery manufacturing infrastructure. This compatibility, coupled with readily available materials in the supply chain, allows UNIGRID to swiftly scale up production without the need for costly custom equipment. This agility has struck a chord with customers and system integrators seeking immediate alternatives to traditional lithium-ion batteries.
In the words of UNIGRID Battery's CEO, Darren H. S. Tan, "Advanced sodium-ion batteries will be a game-changer for energy storage across residential, commercial, and industrial sectors. With commercial-scale orders already in the pipeline, this funding will propel us to expand our manufacturing capabilities and meet customer demands head-on."
Mona Alsubaei, a Partner at Transition VC, echoed this sentiment, praising UNIGRID's technology breakthroughs and commercial acumen. She noted, "The performance showcased by UNIGRID's sodium-ion batteries opens up exciting possibilities in both stationary storage and electric mobility markets, addressing critical challenges like safety, temperature resilience, and cost pressures in the EV space."
With this substantial funding boost, UNIGRID Battery is poised to lead the charge in the sodium-ion battery revolution, reshaping the energy storage landscape for a cleaner, more sustainable future.