We believe that the transition from fossil fuels to clean energy will require a significant investment in energy storage and we have been looking for opportunities to invest in safe and abundant energy storage solutions.
One of the most promising technologies for storing electrical energy safely using abundant materials are sodium-ion batteries. UNIGRID is a San-Diego based startup company that has made a number of technical breakthroughs that we believe will make sodium-ion batteries attractive for grid storage and electric vehicle applications.
UNIGRID’s technology offers drop-in compatibility with conventional Li-ion battery manufacturing infrastructure. UNIGRID works with battery manufacturing partners to immediately scale its products, avoiding the need for highly-customized equipment which has been a barrier for various next-generation battery technologies. This has resonated well with customers and system integrators looking for immediate alternatives to Li-ion batteries. We are impressed with the commercial uptake of UNIGRID’s sodium-ion batteries to date.
Sodium-ion chemistry enables significant reductions in fire hazards. We believe UNIGRID’s proprietary alloy anode technology will address a crucial sodium-ion bottleneck, energy density. And we think making batteries out of a material as abundant as sodium makes great sense given the vast storage needs of society in the coming years.
USV is excited to be part of a $12mm round of financing along with Transition VC and Ritz Venture Capital and existing investor Foothill Ventures. This investment will accelerate and scale-up UNIGRID’s battery production to fulfill MWh-scale customer orders in the electric mobility and stationary storage markets.
