ImpactAlpha, August 12 — Green batteries, critical for global decarbonization efforts, are getting cheaper.
Bill Gates-backed Ambri makes molten-salt batteries to store wind and solar power. The Marlborough, Mass.-based company, which says its batteries are cheaper and more durable than lithium batteries, is targeting grid-scale energy storage market and large industrial energy customers.
It raised $144 million in an investment round led by Reliance New Energy Solar. The financing will help the company “establish our manufacturing infrastructure to meet rapidly expanding customer demand,” said Ambri’s Dan Leff.
L.A.-based Nanotech Energy uses graphene to make non-flammable batteries. The company raised $64 million, led by Taiwan financial services company Fubon Financial Holdings.
It will use the financing to establish a new headquarters in Amsterdam and build a manufacturing facility in Reno, Nevada.