Today: Jun 14, 2024

Swedish zinc-ion battery startup bags funds for megafactory dream.

6 months ago

Swedish zinc-ion battery startup Enerpoly has received a SEK 88.5 million ($8.4 million) three-year grant from the Swedish Energy Agency. This grant will aid in the creation of the world’s first megafactory that manufactures zinc-ion batteries. The funding marks the initial step toward financing Enerpoly’s production plant. Additional private capital will be raised through a Series A funding round, adding to the $13.8 million the company has already raised.

  • Enerpoly’s goal is to demonstrate that zinc-ion batteries can be mass-produced at scale affordably and profitably, providing attractive returns for investors.
  • Plans to scale production up to 100 MWh per year by 2026.
  • The roadmap for the grant includes developing automated manufacturing systems, improving energy efficiency in cell production, and building a sustainable European value chain.
  • The company plans to further expand its workforce in Sweden.

Enerpoly’s batteries, best suited for medium to long duration applications for stationary energy storage with two- to 10-hour discharge durations, use cost-effective and abundant materials such as zinc and manganese dioxide. They are non-flammable and non-explosive, making them suitable for use in challenging applications like critical infrastructure and densely populated urban areas.

In February, Enerpoly announced plans to develop prototypes of a residential plug-in storage system with rechargeable zinc batteries in Europe, in collaboration with Austrian startup EET. The technical basis for this project, dubbed “ZincMate,” is EET’s on-grid technology and Enerpoly’s cost-effective batteries. EET, founded in 2017, produces storage devices that can be installed by amateurs with patented measurement technology that can assess the energy demand of a household via a power outlet connection.

The decision to move to zinc-ion technology for residential applications is seen as the next logical step in the evolution of battery technology. Enerpoly’s zinc-ion technnology is seen as a cost-effective and eco-friendly alternative to the widely-used lithium-ion batteries.