Microsoft founder Bill Gates and energy company Total are two of several investors behind a US$35 million venture capital injection into US energy storage company Ambri.
Ambri is a developer of liquid metal battery grid-scale energy storage and plans to use the equity financing to build a commercial-scale manufacturing plant and commercial rollout of its products.
The tech company, which holds exclusive license rights to liquid metal battery’s intellectual property developed at the Massachusetts Institute of Technology, has developed a storage technology that will allow full integration of intermittant renewable energy sources like wind and solar.
Sophie de Richecour, vice president of Total and board member of Ambri, said: “Total has been a long-time supporter of the liquid metal battery.
“We see enormous potential for this technology to revolutionize the way electric grids are operated globally, especially in integrating solar resources.”
Ambri was recently awarded projects to deploy prototype systems in Massachusetts, Hawaii, New York and Alaska, alongside project partners including First Wind, Joint Base Cape Cod, Con Edison, Energy Excelerator (Hawaii), Alaska Center for Energy and Power, and Raytheon.
Ambri has raised over $50 million in equity financing since its founding in 2010.
It has also received grants from the the Office of Naval Research and the Massachusetts Clean Energy Centre.
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