TLDR:
- Jolt Energy is developing low-cost battery storage technology using organic materials for utility-scale batteries.
- The company is close to reaching its capital goal of $5.6 million for commercialization.
Jolt Energy Storage Technologies, based in Holland, is making significant progress in developing a low-cost energy storage solution using organic compounds. The ongoing capital round, aiming to raise $5.6 million, has already secured $4.2 million from investors. This funding will support the development of a prototype to be tested with a local partner next year.
Founded in 2014 by Jack Johnson and Tom Guarr, Jolt Energy aims to provide a cost-effective alternative for storing energy generated through renewable sources like wind and solar. The company’s technology uses organic compounds instead of mined metals, offering a more sustainable and efficient solution. The global market for battery energy storage systems is projected to reach $120 billion to $150 billion by 2030, creating a significant opportunity for companies like Jolt Energy.
Michigan Rise Pre-Seed Fund III has invested in Jolt Energy, recognizing the potential impact of the company’s technology on addressing climate change. The innovative approach of using organic materials for energy storage has the potential to revolutionize the industry and provide scalable solutions for storing energy from renewable sources. With the ongoing support of investors and strategic partnerships, Jolt Energy is well-positioned to make a significant impact in the energy sector.
