Enerpoly raises pre-seed funding to address global battery needs
Enerpoly just raised EUR 410,000 in a new investment round. Now, the startup aims to make battery storage affordable enough to be in every home.
This summer, Sting company Enerpoly closed its pre-seed round of EUR 410,000 with select angel investors that have experience building and managing global manufacturing companies and successfully doing business in the battery industry. Sting Holding also participated in the round. The company now has EUR 2.5 million in financing to tackle the lack of sustainable and affordable battery energy storage solutions.
“Since 2019 we’ve been a proud backer of Enerpoly and are very excited about their innovative solution for stationary energy storage. This battery technology will contribute to solving the climate challenge and we feel confident that the great team behind Enerpoly will succeed in this important mission,” says Pär Hedberg, founder and CEO of Sting.
Enerpoly is pioneering rechargeable zinc-ion battery technology made with abundant and inexpensive materials. Renewable power generation is expected to dominate the electricity grid by 2030, and stationary battery storage is needed to ensure the reliability of intermittent solar and wind power. As the high cost of energy storage is the primary barrier to clean energy, Enerpoly’s affordable batteries can drive a transition to the electric grid of the future — one powered by resilient and renewable energy sources.
“Sustainability-focused homeowners have been installing solar panels on their rooftops for decades, but the majority of the energy they produce is sold back to the utility and not used for their home’s energy needs. To solve this problem, many of these savvy homeowners have evaluated installing batteries to store the energy for when it’s needed, but in most cases, the batteries are far too expensive to justify the investment. Enerpoly’s cost-effective technology answers this need. Our batteries can also support the local economy – everything in the technology can be sourced and manufactured in Sweden,” says Eloisa de Castro, CEO.
With the world focused on reducing emissions and waste, Enerpoly is well-positioned to respond t oglobal trends with its sustainable battery innovation. Globally accessible materials reduce supply chain risks and carbon emissions related to transportation. The established recycling infrastructure for alkaline batteries benefits Enerpoly’s technology due to the similar materials used. After recycling, these materials can also be reused in production, contributing to a circular economy.
“Another important feature for homeowners when choosing a battery is safety. Some of the batteries today pose risks if designed or used improperly. In our hunt to solve this problem, we looked at the well-known alkaline battery chemistry. These batteries are safe and have been used in household items, including children’s toys, for over 60 years. However, they are non-rechargeable. Our breakthrough in making this battery chemistry rechargeable has resulted in an energy storage solution that resolves the safety needs of homeowners,” says Dr. Samer Nameer, co-founder and CINO of Enerpoly.
This round of funding will propel Enerpoly to the next stage of development and prepare the technology for residential-scale batteries pilots and other behind-the-meter applications, such as electric vehicle charging infrastructure.
Founded in 2018, Enerpoly is a next-generation energy storage technology company pioneering rechargeable zinc-ion battery chemistry. With their groundbreaking zinc-ion batteries, Enerpoly will drive a transition to the electric grid of the future – one powered by resilient and renewable energy that has the flexibility and reliability to support the growth of electric vehicles and offer empowered consumers the chance to support clean energy sources. By designing our batteries with safe and affordable materials that can be sustainably scaled, Enerpoly is building a world where everyone has access to clean energy.