Grid batteries investment promises lower renewable costs

Grid batteries investment promises lower renewable costs
Business news |
Battery start-up Ambri, developer of the novel Liquid Metal Battery grid-scale energy storage technology, has raised a $35 million series-C round to fund the production of prototype batteries from an existing factory and finance construction of a commercial-scale plant.
By eeNews Europe

Share:

The MIT spin-off company intends to test prototypes in the field in 2014 and produce full-size batteries for paying customers by 2016.  Ambri’s energy storage technology has been developed to facilitate full integration of variable renewable generation like wind and solar, reduce electricity costs by reducing the need for power plants and transmission and distribution infrastructure, and lead to more reliable and resilient electricity systems.

The round was funded by new investors KLP Enterprises, the family office of Karen Pritzker and Michael Vlock, and Building Insurance Bern (GVB), the Swiss Insurance company, as well as existing investors, including Khosla Ventures, Bill Gates and the energy company Total.

The investment marks a shift for Ambri from demonstrating the science behind the company’s technology – a battery cell that uses two liquid metals as electrodes and a salt electrolyte – to engineering a commercially viable product. The cash injection also reflects a growing confidence that utilities and renewable energy project developers are willing to invest in new energy storage technologies.

The new funding round will enable Ambri to deliver commercial systems to customers, build its initial commercial-scale manufacturing plant, and continue technology development.

The cost of producing batteries is another important factor in undercutting incumbent battery technologies. Because Ambri’s manufacturing process is simple – it involves placing metal pucks and salt electrolyte material in a four-inch-square stainless steel cell – much of the production can be automated, said David Bradwell, the company’s chief technology officer.

At its existing manufacturing plant in Marlboro, Massachusetts, Ambri assembles its cells with robots normally used in the auto industry. The same kind of robot will be used at the company’s full-scale factory, which will make 130 megawatt-hours of batteries per year, explained Bradwell. “We expect to be almost an order of magnitude less in production cost than lithium-ion batteries, based on the elegance of the cell,” said Bradwell.

“Total has been a long-time supporter of the Liquid Metal Battery,” said Sophie de Richecour, Vice President of Total and Board Member of Ambri. “We see enormous potential for this technology to revolutionize the way electric grids are operated globally, especially in integrating solar resources. We look forward to our continued partnership with Ambri to make this technology a commercial reality.”

“Ambri’s solution is highly distinguished from others in the marketplace on cost and performance – thanks to a simple manufacturing process, use of cheap and safe materials, and significantly longer lifetime compared to other approaches we’ve seen. Large-scale, cost-effective electricity storage will be a critical part of reinventing our global electric grid infrastructure,” said And rew Chung, Partner at Khosla Ventures and Board Member of Ambri.

Ambri expects to be able to begin full-volume production having raised $50 million since the company’s founding in 2010. Ambri is the exclusive licensee of the Liquid Metal Battery intellectual property developed at MIT.

Ambri has been targeting a battery cost well below $500 per kilowatt-hour. At that price, excess wind energy could be cost-effectively stored at night for sale during the day, or could help utilities meet demand during peak hours. The company’s small-scale commercial prototypes, which are about a cubic meter in size, will be installed at a few locations powered partially by stored renewable energy.

Related articles and links:

www.ambri.com

News articles:

Advanced Liquid Metal Battery system heads for commercialization

Photoswitching material harnesses solar power for heat storage

Electrodes charge transfer mechanism is measured for first time

Linked Articles
eeNews Power
10s