UNIGRID Battery, an innovative company based in San Diego, recently announced the closing of a $12 million Series A financing round. This financing, co-led by Transition VC and Ritz Venture Capital, also saw the participation of new investors such as Union Square Ventures and existing investor Foothill Ventures. This capital injection is aimed at accelerating production of the sodium-ion batteries developed by UNIGRID to meet growing demand in the electric mobility and stationary storage markets.
Advanced technology and target market
UNIGRID sodium-ion batteries are distinguished by their high energy density, a feature made possible by exclusive alloy anode technology. This innovation enables sodium-ion batteries to rival LFP (lithium-iron-phosphate) batteries in terms of performance. Darren H. S. Tan, CEO of UNIGRID Battery, says this technology will be crucial in meeting the demand for energy storage in the residential, commercial and industrial sectors.
Strategic investors and market outlook
Mona Alsubaei, Partner at Transition VC, underlines the importance of this technology for the growing need for energy storage. Sangbin Ong, Managing Director at Ritz Venture Capital, notes that the outstanding performance of UNIGRID’s sodium-ion batteries presents significant opportunities not only in stationary storage but also in the fast-growing electric mobility sector.
Industrial compatibility and expansion
One of the main advantages of UNIGRID’s technology is its compatibility with existing Li-ion battery manufacturing infrastructures. This enables UNIGRID to work directly with manufacturing partners to rapidly scale up production without the need for specialized equipment. This approach has been well received by customers and system integrators looking for immediate alternatives to Li-ion batteries.
Academic origins and future development
Founded in 2021, UNIGRID Battery is a spin-off from the University of California, San Diego. The company was founded by Dr. Darren H. S. Tan and Dr. Erik A. Wu, based on their doctoral research under the supervision of Professors Zheng Chen and Shirley Meng. UNIGRID focuses on the development of advanced sodium-ion batteries to meet the emerging needs of energy storage and electric mobility.
With this $12 million round of financing, UNIGRID Battery is well positioned to strengthen its production capacity and meet growing market demand. Backed by innovative technology and a solid investor base, the company is poised to play a leading role in the battery industry.
