LiNa Energy, a pioneering firm based in Lancaster, England, has secured a financial boost of €4M to propel the development of cost-effective solid-state sodium batteries. This investment marks a significant milestone for the company, positioning it at the forefront of innovative energy storage solutions.
Significant Investment Towards Innovation
Jacob Wolff-Petersen, a key partner in LiNa Energy, led the funding round. The infusion consists of €3.1M in equity and a €952K grant from the Future Enterprise Investor Partnership, administered by Innovate UK. This financial endorsement underscores the confidence in LiNa Energy’s solid-state sodium battery technology and its potential to revolutionize the energy sector.
Expanding Production Capabilities
With this funding, LiNa Energy plans to establish an automated solid-state electrolyte manufacturing line. This advancement will occur at the company’s pilot-scale production facility, signifying a leap towards large-scale manufacturing capabilities.
The Genesis and Mission of LiNa Energy
Founded in 2017 by Dr. Gene Lewis and Dr. Richard Dawson, LiNa Energy emerged as a promising spin-off from Lancaster University. The company’s mission is to develop low-cost solid-state sodium batteries that offer an extended duration for stationary energy storage, surpassing the four-hour mark. LiNa Energy’s technology is not only more stable and safer than traditional Lithium-ion batteries but also benefits from the use of abundant and affordable materials like food-grade salt and iron.
An International Footprint
LiNa Energy’s influence spans globally, with a notable pilot project in India where a 10 kWhr sodium-based Battery Energy Storage System (BESS) connects to the Indian grid. This initiative, among others in Europe and the Middle East, signals LiNa’s commitment to demonstrating the unparalleled cost-efficiency of their solid-state sodium batteries on a commercial scale.
Will Tope, CEO of LiNa Energy, shared his optimism about the future, “Over the past 12 months, we have seen a surge in demand for longer-duration storage systems and alternatives to Lithium-ion. Our recent funding, supported by Innovate UK, enables us to scale our manufacturing process and meet the growing demands across India, Europe, and the Middle East.”
As LiNa Energy gears up for a future replete with innovative projects and commercial-scale demonstrations, the energy sector watches closely, anticipating the broad implications of their sodium battery technology.
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