Moonwatt, an Amsterdam-based company specializing in solar-only energy storage systems, has successfully raised €7.6M in a Seed funding round to accelerate its mission of transforming renewable energy storage. The startup’s innovative approach leverages Sodium-ion Battery technology, offering a safer, more cost-effective solution compared to traditional Lithium-ion batteries.
Moonwatt Raises €7.6M to Advance Solar Energy Storage
The funding round, led by Daphni and LEA Partners, also featured participation from Founders Future, AFI Ventures, Kima Ventures, and other strategic investors, including business angels. This financial boost will empower Moonwatt to refine its hardware and software, expand its team, and enhance the deployment of its revolutionary solar energy storage systems.
Why Sodium-Ion Batteries Are the Future
Co-founded by Zukui Hu, Guillaume Mancini, and Valentin Rota, former colleagues at Tesla Energy, Moonwatt aims to redefine solar energy storage. Sodium-ion batteries, being 1,000 times more abundant than lithium and a third cheaper, serve as the cornerstone of their technology. These batteries are safer, mitigate concerns about raw material scarcity, and significantly reduce reliance on traditional Lithium-ion components.
“We started from scratch,” explains Zukui Hu, CEO and Co-Founder. “Our sodium-ion systems are designed to be scalable, safer, and more reliable while offering a solution free from the constraints of legacy battery designs.”
Boosting Solar Efficiency
Moonwatt’s system addresses key challenges in solar energy storage, such as reliability, cost, and grid congestion. The storage solution is tailored for larger-scale solar plants producing hundreds of kilowatts of energy. It achieves grid-ready energy storage with efficiency levels as high as 80%, compared to the typical 15-20% efficiency in conventional setups.
By designing its storage units to integrate seamlessly with solar plants, Moonwatt minimizes infrastructure costs and facilitates more effective energy dispatch. This strategic placement of storage systems close to solar panels during peak production periods not only enhances efficiency but also reduces electricity costs for operators.
Economic and Environmental Impact
Moonwatt’s innovations promise substantial financial benefits for solar power plants. According to co-founder and Chief Commercial Officer Valentin Rota, their system enables operators to double their return on investment. For example, current photovoltaic (PV) assets typically yield an internal rate of return (IRR) between 8% and 12%. With Moonwatt’s solutions, that figure could rise to approximately 20%, providing significant financial incentives.
Additionally, the scalability and efficiency of sodium-ion technology contribute to stabilizing energy prices, minimizing grid congestion, and reducing the environmental impact of energy production. Moonwatt estimates its approach could cut carbon emissions by up to 14 gigatons annually by 2050 if widely adopted.
Transforming Renewable Energy for a Greener Future
The company’s vision extends beyond financial returns. Moonwatt is committed to fostering a cleaner, more reliable energy system by scaling up renewable energy solutions. Although its storage systems are geared towards larger solar farms rather than residential installations, the distributed design ensures easier integration and scalability for future developments in renewable energy.
With this €7.6M in fresh funding, Moonwatt is well-positioned to expand its role in the global clean energy transition. By adopting innovative Sodium-ion Battery technology and optimizing solar energy storage, the Amsterdam-based startup aims to play a crucial part in overcoming energy challenges and driving sustainability forward.
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