V (symbol) ion battery startup Model Energy raises $8. 9M Series C from SoftBank Ventures Asia

Standard Energy , a vanadium ion battery developer, announced today it has raised a $8.9 million Series C from SoftBank Ventures Asia. The South Korea-based company says its batteries’ advantages over lithium ion include less risk of ignition and the ease of sourcing vanadium. The latter is an important selling point, as electric vehicle makers < a href="https://www.cnbc.com/2021/04/08/the-us-is-facing-a-lithium-ion-battery-shortage-with-ev-growth.html"> look a potential shortage of lithium ion these things|camera batterycamcorder battery|digital camera battery|batterie|cheap batteries onlinebarcode batteries|extended batterybatteries online|laptop battery replacementcamera battery|batteries for pdababy monitor battery|replacement batteries|notebook batteriesbattery|camcorder batteryakku|pile|cheap batteries|mobile phone battery} .

Contrary to serving as a replacement for li ion batteries, however , Standard Electrical chief executive officer Bu Gi Imagine said they complement one. Vanadium ion batteries own high energy, performance and well-being, but they are not as compact compared to lithium ion batteries.

Lithium ion batteries will continue to be used by hardware that needs to be mobile, which can include electric vehicles or stories devices like smartphones, however vanadium ion batteries exist suited to “stationary” customers, centered wind and solar power garden or ultra-fast charging interruption for electric vehicles (Kim said Standard Energy is undoubtedly scheduled to ship there batteries to an ultra-fast accounts receivable station in Seoul soon).

Founded in 2013 while researchers from the Korea Developed Institute of Science and furthermore Technology (KAIST) and the Ma Institute of Technology (MIT), Standard Energy expects the main customers to be the electric storage systems (ESS) arena, which the company says should be expected to grow from $8 billion to $35 billion dollars in the next five years.

“A large number of alternative energy projects have slowed as well stopped in many places due to its unstable battery performance of lithium ion. VIB cannot be the way compact as lithium ion. However , ESS projects or programs including renewable energy plants allow for enough space for our products being integrated into their systems, ” said Kim.

Standard Energy has already brandished a total of over a million battery testing hours, mainly in a lab, at a competent battery performance test world wide web site and in actual operations. Kim said the company is rest assured its performance data may possibly convince customers to adopt vanadium ion batteries.

In a press statement, SoftBank Ventures Asia senior pojkv?n Daniel Kang said, “The existing ESS market within a state of imbalance due to their rapidly growing demand, and awareness and efficiency issues of products. Standard Energy is supposed to create new standards for the global ESS market indicates its innovative material not to mention design technology with a big manufacturing capabilities. ”

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