Boston-based Alsym Energy, a pioneer in nonflammable rechargeable battery technology that is cobalt and lithium-free, has recently secured $78 million in a funding round.
Tata Limited (a wholly owned subsidiary of Tata Sons) and General Catalyst, a prominent global venture capital firm, co-led this investment round.
Established in April 2015, Alsym Energy has developed an innovative non-flammable, high-performance rechargeable battery chemistry that eliminates lithium and cobalt. This technology is suitable for various stationary storage applications like utility grids, home storage, microgrids, and industrial uses. The company elaborates on the unique features of its battery technology on its website:
Unlike lithium-ion cells, Alsym harnesses inherently non-flammable and non-toxic materials, with a water-based electrolyte. Alsym cells are free from dendrites and immune to conditions that could trigger thermal runaway.
The flagship product from Alsym Energy is called Alsym Green, known for being the only high-performance, non-flammable solution suitable for stationary and grid storage, especially in environments prone to fire hazards due to rising temperatures.
Alsym’s batteries are capable of discharging for durations ranging from 4 to 110 hours and can recharge in as little as four hours. The company emphasizes that Alysm Green offers a low levelized cost of storage and can support a wide range of discharge durations that are software-configurable.
Dr. Kripa Varanasi, co-founder of Alsym Energy and a mechanical engineering professor at MIT, stated:
Battery storage systems play a crucial role in providing firm capacity to the grid during periods without sunshine or wind, making flexible solutions essential to meet diverse needs safely and economically.
Alsym batteries are ideal for various applications ranging from temperate to warming climates, infrastructure, and industrial settings like datacenters, steel mills, and chemical plants.
The newly secured funds will enable Alsym Energy to expand its team in Boston and enhance its prototyping and pilot line capabilities.
The company’s future plans include developing products for marine applications and electric vehicles, such as two-wheelers, three-wheelers, and passenger vehicles.
Read more: US battery storage sets deployment records in Q4 2023
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