Photo: Alcim Energy
Boston-based Alcim Energy, which develops cobalt- and lithium-free non-flammable rechargeable batteries, announced a $78 million funding round.
Tata Limited (a wholly owned subsidiary of Tata Sons) and global venture capital firm General Catalyst jointly led the funding round.
Founded in April 2015, Alsym Energy has developed a lithium- and cobalt-free, nonflammable, high-performance rechargeable battery chemistry. It can be used for a variety of fixed storage use cases, including utility grids, home storage, microgrids, and industrial applications. The company explains the difference in its battery technology on its website as follows:
Although Alsym and lithium-ion batteries look similar, they utilize inherently non-flammable and non-toxic materials, and the electrolyte is water-based. Alsym cells are also essentially dendritic and immune to conditions that can cause thermal runaway.
The company’s first battery product is called Alsym Green, which it says is “the only high-performance, non-flammable option for stationary and grid storage in situations where the risk of fire increases as mercury rises.” That’s what it means.
Alsym says its batteries can be used for any discharge period from 4 to 110 hours and can be recharged in as little as 4 hours. Alysm Green claims low levelized storage costs and the ability to support a wide range of software-configurable discharge periods.
“We are thrilled to be partnering with Alcim Energy for the first time in 2020,” said Dr. Kripa Varanasi, co-founder of Alcim Energy and professor of mechanical engineering at Massachusetts Institute of Technology.
Battery storage systems help provide stable capacity to the power grid when the sun isn’t shining and the wind isn’t blowing, but in changing climates and hazardous environments, they can safely and economically meet a variety of needs. You need a flexible solution that meets your needs.
Alsym batteries are ideal for both temperate and warming climates, and are also ideal for infrastructure and industrial applications such as data centres, steel mills and chemical plants.
Alcim Energy will use the funding to grow its Boston-based team and expand its prototyping and pilot lines.
In the future, the company plans to develop products for marine applications and EVs such as motorcycles, tricycles, and passenger cars.
read more: US battery storage to break adoption record in Q4 2023
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