TLDR:
- UNIGRID Battery has closed a $12 million Series A funding round co-led by Transition VC and Ritz Venture Capital
- The funding will be used to scale up production of advanced sodium-ion batteries, focusing on high energy density and eliminating rare materials
UNIGRID Battery, a San Diego-based company, recently announced the successful closing of an oversubscribed $12 million Series A funding round. The funding, co-led by Transition VC and Ritz Venture Capital and joined by Union Square Ventures and Foothill Ventures, will be used to accelerate and scale up UNIGRID’s battery production to fulfill MWh-scale customer orders in the electric mobility and stationary storage markets. UNIGRID is known for its sodium-ion battery technology innovation, specifically in developing high energy density batteries with a proprietary alloy anode technology that doubles the volumetric energy density of sodium-ion, making it surpass the energy density of lithium iron phosphate batteries. The company also eliminates the use of critical or rarer materials like lithium, cobalt, nickel, and copper from its battery chemistry entirely.
One of the strengths of UNIGRID’s technology is its drop-in compatibility with conventional Li-ion battery manufacturing infrastructure and the off-the-shelf availability of materials in the existing supply chain. This allows the company to work with battery manufacturing partners to immediately scale its products without the need for highly customized equipment or tool redesigning. The technology has resonated well with customers and system integrators looking for immediate alternatives to Li-ion batteries.
Key quotes from the article include statements from UNIGRID Battery’s CEO Darren H. S. Tan, Transition Partner Mona Alsubaei, and Ritz Venture Capital Managing Director Sangbin Ong praising the technology breakthrough and commercial execution of UNIGRID. The company’s sodium-ion batteries are seen as a key enabler for energy storage in various markets due to their safety, affordability, and use of abundant resources.
