Advanced battery firm Gridtential has completed an $11 million Series B equity raise to boost “commercial opportunities” for its Silicon Joule battery technology in hybrid vehicle, grid storage and other global markets.
Gridtential said the equity raise was led by US-based venture capital firm, 1955 Capital, with leading battery businesses.
The worldwide distributed energy storage market could be worth $68 billion from 2014 to 2024, according to a report by Navigant Research.
The report, “Energy Storage for the Grid and Ancillary Services” analyses the global market for grid-scale storage, with a focus on bulk and ancillary service applications.
California-based energy storage firm EnerVault has appointed Denis Giorno to its board of directors.
Giorno currently works as CEO and president for Total Gas & Power New Energies USA. He joined the company 1975 and has held numerous, international management positions within the Total group.
US aerospace firm Lockheed Martin has acquired assets from flow battery energy storage firm Sun Catalytix.
Sun Catalytix, an MIT spinout startup, will become a wholly-owned subsidiary and operate under the name of Lockheed Martin Advanced Energy Storage in the future. 25 employees along with patents and the company’s business plan will become part of Lockheed Martin. The financial terms of the acquisition were not disclosed.
