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.
Some believe the answer to tackling emission regulations is lithium-ion full electric vehicles, but the lead battery industry believes the answer lies with 48V hybrid applications.
One such company is US start-up Gridtential, which is pushing its Silicon Joule technology to one day be the 48V industry standard by making lead batteries cheaper and boosting performance.
Lead-acid firm Gridtential Energy has appointed Ray Kubis as its chairman of the board.
Kubis first joined the company’s board of directors last year.
With more than 35 years in the global battery industry, Kubis had served as president and managing director of EcoBat Technologies Ltd., President of EnerSys Europe, and Vice President in the battery group of Johnson Controls.
Gridtential has developed a proprietary technology for an advanced lead-acid battery that replaces the metal grid in current battery designs with a silicon substrate.
Kubis has led Gridtential’s advanced patent Silicon Joule™ into manufactures market and making profit.
Kubis said: “Gridtential’s product innovation offers a real chance for step-change improvements in battery performance.
“By leveraging the mature manufacturing processes for lead and silicon with the existing lead-based battery plants, the innovation is practical and affordable when contrasted to new billion dollar super- or giga-scale investments.”
Early-stage lead-acid focused startup Gridtential has been selected by the Department of Energy (DOE) to pursue validation testing at Sandia’s Energy Storage Analysis Laboratory.
The US firm has developed a proprietary technology that replaces the metal grid in current lead-acid battery designs with a silicon substrate.