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Alsym Energy has raised $78 million to make batteries that don’t use lithium or other materials that result in supply problems or high costs.
Tata Limited, a division of Tata Sons, and global venture capital firm General Catalyst led the round.
Based in Woburn, Massachusetts, Alsym Energy is developing next-generation non-flammable rechargeable batteries for stationary storage, marine and mobility applications. New York-based Thrive Capital and Toronto-based Thomvest also joined in the round, as well as existing investor Drads Capital.
Alsym will use the funds to grow its Boston-area team and expand its prototyping and pilot lines to address increasing demand for customer samples. This funding from strategic investors and venture capital firms highlights the growing interest in high-performance, inexpensive non-flammable battery technologies.
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How it could improve batteries
A small format battery cell is assembled at Alsym.
Alsym’s battery is an aqueous metal oxide battery. Functionally and structurally it works just like lithium ion but it uses a different set of materials. There are diagrams on the company’s technology page that explain this visually.
Alsym’s batteries are ideally suited to grid storage applications, especially in urbanized areas, due to the combination of energy density, cost, and safety. This is the company’s initial target market, and one where expected future needs are increasing by the day. Alsym can do discharge durations from four to 100 hours, making its battery technology a single solution for short, medium, and long duration storage.
The company is currently sourcing mainly from the U.S. with some suppliers in Europe and Japan. All of the materials used in the battery are inherently non-flammable and non-toxic making sourcing, manufacturing, application, and end of life processes safe and environmentally friendly.
Thus, the company said its battery is 1) a better solution fo …
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Alsym Energy has raised $78 million to make batteries that don’t use lithium or other materials that result in supply problems or high costs.
Tata Limited, a division of Tata Sons, and global venture capital firm General Catalyst led the round.
Based in Woburn, Massachusetts, Alsym Energy is developing next-generation non-flammable rechargeable batteries for stationary storage, marine and mobility applications. New York-based Thrive Capital and Toronto-based Thomvest also joined in the round, as well as existing investor Drads Capital.
Alsym will use the funds to grow its Boston-area team and expand its prototyping and pilot lines to address increasing demand for customer samples. This funding from strategic investors and venture capital firms highlights the growing interest in high-performance, inexpensive non-flammable battery technologies.
GB Event
GamesBeat Summit Call for Speakers
We’re thrilled to open our call for speakers to our flagship event, GamesBeat Summit 2024 hosted in Los Angeles, where we will explore the theme of “Resilience and Adaption”.
Apply to speak here
How it could improve batteries
A small format battery cell is assembled at Alsym.
Alsym’s battery is an aqueous metal oxide battery. Functionally and structurally it works just like lithium ion but it uses a different set of materials. There are diagrams on the company’s technology page that explain this visually.
Alsym’s batteries are ideally suited to grid storage applications, especially in urbanized areas, due to the combination of energy density, cost, and safety. This is the company’s initial target market, and one where expected future needs are increasing by the day. Alsym can do discharge durations from four to 100 hours, making its battery technology a single solution for short, medium, and long duration storage.
The company is currently sourcing mainly from the U.S. with some suppliers in Europe and Japan. All of the materials used in the battery are inherently non-flammable and non-toxic making sourcing, manufacturing, application, and end of life processes safe and environmentally friendly.
Thus, the company said its battery is 1) a better solution fo …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]