As we move towards a sustainable economy, batteries play an increasingly important role in society. In the last 11 years, over $106B has been pumped into energy storage startups – in a joint effort by VCs, governments, private equity firms and corporations. In recent years, new sustainable battery companies have emerged to respond to the surging demand for lithium-ion batteries – which power everything from iPhones to electric cars.
But there are new kids on the block too, who are quickly catching up. According to our data, these are five early-stage energy storage startups gaining traction.
Unbound Potential
Unbound Potential began as a project at ETH, a public research university in Zürich, Switzerland. David Taylor, then a postdoc at ETH, teamed up with his colleagues to find a solution for long-duration energy storage. The breakthrough? A new type of flow battery technology, redox, eliminating the need for a membrane by using immiscible electrolytes. This is a game-changer since membrane components typically come with a hefty price tag—accounting for 20-40% of the set-up costs.
💸Total funding: €3M
Bedrock Materials
Bedrock Materials is an energy storage startups shaking up the battery industry with the production of sodium-ion batteries – a much cheaper alternative to lithium-ion. They’re starting out by targeting gas-powered cars and trucks, aiming to move into the EV market as the technology matures. Bedrock recently pulled in $9 million in seed funding, with backing from Trucks Venture Capital, Refactor Capital, and Version One Ventures. They’ve also set up an R&D facility in Chicago, leveraging the city’s lower costs and the cutting-edge research from nearby Argonne National Labs to push sodium-ion battery tech forward.
💸 Total funding: $9M
tozero
In our piece about the urgent need for alternative battery solutions, we highlighted the critical task of making lithium-ion batteries more sustainable. A new player entering this field is tozero, making battery recycling possible by recovering critical metals and introducing fresh raw materials in the supply chain. The company claims to have the impressive capability to recycle up to 97% of the black mass—the materials found in the anode and cathode of lithium-ion batteries—a feat previously deemed impossible. This marks a significant leap forward to create a circular economy.
Total funding: €3.5M
3DC
As battery applications are expected to expand from electric vehicles to heavy-duty trucks, air mobility, and even space, the need for higher-capacity batteries has never been more critical. 3DC is set out to satisfy this need by developing Graphene Meso-sponge (GMS) carbon material to produce higher-energy batteries and prevent cathode degradation to extend longevity.
Total funding: €4.73M
Flow Aluminum
US-based Flow Aluminium is an energy storage startup breaking new ground with high-performance, low-cost aluminum-CO2 batteries, offering a safer alternative to lithium-ion. Their energy storage solutions span across drones, automotive, residential, and the grid. Aluminum batteries are environmentally friendly, free from rare earth materials, and can handle extreme temperatures without the risk of fire or thermal runaway.
💸Total funding: $420K
These are just some of the emerging energy storage startups in the battery space. Our platform provides the most comprehensive database of climate tech startups and SMEs globally. We help investors, corporates, and decision-makers gain insight into financial and climate tech trends by accessing data on funding rounds, investment activity, readiness level, and patents.
