According to foreign media reports, Alsym Energy, headquartered in Boston, is developing a non-flammable rechargeable battery that does not contain cobalt or lithium.
The company announced that it had received a new round of financing of $78 million.
Tata Limited (a wholly owned subsidiary of Tata Sons) and General Catalyst, a global venture capital firm, are the leading investors in Alsym Energy’s current round of financing.
Alsym Energy, founded in April 2015, developed a non-flammable, high-performance rechargeable battery chemical material free of lithium and cobalt.
It can be used in a series of fixed storage use cases, including public power grid, home storage, microgrid, industrial applications and so on.
Photo: Alsym Energy,Alsym Energ said on its website: “although Alsym batteries and lithium-ion batteries look similar, we use non-flammable and non-toxic materials, and our electrolytes are water-based.
The Alsym battery itself does not contain dendrites, so there is no possibility of thermal runaway.
” Alsym’s first battery energy storage product was called Alsym Green, which the company called “the only high-performance, non-flammable option for fixed and grid energy storage, in which the fire risk increases with the increase in mercury content”.
Alsym says its battery can be used for any discharge time of 4 to 110 hours and can be recharged in as little as 4 hours.
The company claims that Alysm Green’s leveling storage costs are low and can support a wide range of discharge durations that can be configured through software.
Alsym Energy will use the latest financing to strengthen its Boston team and expand its prototype and pilot production lines.
In the future, the company also plans to develop products for ships and electric vehicles, including two-wheelers, tricycles and passenger cars.
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