Natron Energy, the world´s developer and supplier of high-power, long-life and low-cost Sodium-ion batteries using Prussian Blue chemistry, has announced that it has raised USD 35 million in Series D funding to further its product operations to meet market demand, the company said.
ABB Technology Ventures, NanoDimension Capital and Volta Energy Technologies co-led the round, with existing investors Chevron, Khosla Ventures and Prelude continuing their participation in funding.
Natron´s battery products address new “edge” and distributed computing infrastructure environments, hyperscale data centers, telecom, network and industrial applications–where customers and partners are integrating Natron´s technology into their critical infrastructure systems.
Recent National Fire Protection Association 855 fire codes mean that safe, sustainable battery technology is in particularly high demand among the growing data center market. Natron´s battery technology enables energy storage products that are both higher-powered and safer than traditional options–with none of the fire, explosive gas or thermal runaway risks associated with lithium or lead batteries.
The series D investment pushes Natron´s total funding since inception past USD 70 million, and will increase the commercialization of Natron´s sodium-ion battery up to 10 times by 2021.
Natron Energy´s mission is to transform industrial and grid energy storage markets by providing customers with lower cost, longer lasting, more efficient, safer batteries. Natron´s battery products are based on a unique Prussian blue chemistry and can integrate into a wide variety of energy storage applications ranging from critical backup power systems to EV fast charging and behind-the-meter applications. To learn more, visit www.natron.energy.
ABB Technology Ventures (ATV) is the venture capital unit of ABB (NYSE: ABB). Since its formation in 2009, ATV has deployed more than USD 200 million into startups spanning a range of sectors including robotics, industrial IoT, AI/machine learning, cybersecurity, electric mobility, smart buildings and distributed energy. Learn more at www.abb.com/ventures.
NanoDimension is a venture capital firm investing in disruptive technologies in and at the convergence of the life and physical sciences. NanoDimension focuses on early stage opportunities in the US and Europe led by exceptional entrepreneurs.
Volta Energy Technologies identifies and invests in battery and energy storage technology after performing deep diligence with the support of unparalleled global research institutions. Seeded by strategic corporate investors, Volta connects innovators with investors and relevant industries that are adopting energy storage technology, delivering strategic returns for all. To learn more, visit www.plusvolta.com