Enerpoly, a zinc-ion battery innovator based in Stockholm, has received an $8.4M (approximately €7.78M) grant from the Swedish Energy Agency.
This grant marks the initial step in securing funding for the production plant, with Enerpoly planning to raise additional funding through a Series A round.
Enerpoly has raised €12.6M in total funding, to date.
Capital utilisation
The three-year funding will support the demonstration of Enerpoly’s patented technology in the world’s first megafactory for zinc-ion batteries.
The funding will help the company to demonstrate the carbon emission reduction potential of zinc-ion batteries in energy storage. Additionally, it aims to enhance European competitiveness and diversify the battery supply chain.
Enerpoly’s manufacturing plant
Enerpoly is set to launch its zinc-ion battery manufacturing plant, named the ‘Enerpoly Production Innovation Center (EPIC)’, within the next three years. EPIC, boasting a capacity throughput of 100 MWh annually, aims to revolutionise the stationary energy storage sector.
The initiative will showcase the feasibility and profitability of large-scale, cost-effective production of zinc-ion batteries, promising “attractive” returns for investors.
Enerpoly co-founder and CTO, Mylad Chamoun says, “This is a major milestone for Enerpoly, and for zinc-ion battery technology globally. Our EPIC zinc-ion plant, we will showcase how this technology is scalable and can enable the large-scale adoption of renewable energy.”
“With the backing of partners like the Swedish Energy Agency, Enerpoly’s zinc-ion batteries can help cement Sweden’s position at the forefront of this critical energy transition,” adds Chamoun.
Producing cost-effective and clean zinc-ion batteries
Enerpoly, co-founded by Dr. Mylad Chamoun and Dr. Samer Nameer, and led by CEO Eloisa de Castro, has developed a zinc-ion battery technology using easily obtained and recyclable materials like zinc and manganese.
These batteries, insulated from supply chain issues, are non-flammable and non-explosive, making them “well-suited” for critical infrastructure and urban areas.
Enerpoly’s grant project focuses on automating manufacturing, improving energy efficiency, and ensuring safety.
The company aims to establish a sustainable European value chain, enhance intellectual property protection, and expand its workforce in Sweden, aligning with the EU’s 2050 climate neutrality goal for greater energy security and renewable energy adoption.
Brief about the Swedish Energy Agency
The Swedish Energy Agency leads efforts in transitioning to a sustainable energy system by reducing emissions, increasing fossil-free energy, and improving energy efficiency. It provides funding and expertise to drive the development and implementation of energy-related policies.
The Swedish Energy Agency has already supported 250 startups with around €90M, contributing to sustainable growth.