VFlowTech, a vanadium-based redox stream (VRF) battery firm in Singapore, has introduced a US$10 million Collection A funding spherical led by Japanese VC agency Actual Tech Holdings.
Returning buyers, together with SEEDS Capital, Wavemaker Companions, and Sing Fuels, joined the spherical. Michael Gryseels (Chairman of VFlowTech), İnci Holding (Turkey), Pappas Capital (US) and Carbon Zero Enterprise Capital (Singapore) additionally participated.
VFlowTech will use the funds to arrange a 200MWh manufacturing line capability and scale up the manufacturing of its 250 kWh modular vanadium-based long-duration power storage options.
Additionally Learn: VFlow’s recyclable energy solution with an expected lifespan of 25 yrs seeks to replace Li-Ion batteries
A portion of the brand new capital will probably be used to increase into Turkey, the US, Japan and India. It’s going to additionally intensify its R&D efforts to enhance its expertise, enhance system capability, and discover new markets. VFlowTech can even look to strengthen the administration group within the subsequent yr.
V-Movement was established in 2018 by Dr Avishek Kumar (CEO) and Dr Arjun Bhattarai (CTO), in collaboration with Entrepreneur First, with beneficiant assist from SG Innovate and the Nanyang Technological College, Singapore.
It claims to develop the most affordable and most effective modular VRF batteries, which ship long-lasting, dependable power storage options for renewable integration at an inexpensive worth. VRF battery works via the continual discount and oxidation response between the vanadium redox {couples} with no detrimental points and with the cross-mixing of the redox {couples}. As a consequence of this setup, the electrolyte has no degradation and the battery gives steady efficiency over 20 years.
V-Movement’s storage answer has an anticipated life span of 25 years and is secure and environmentally pleasant battery expertise.
So far, VFlowTech has commercially deployed 30 kWh and 100 kWh models for residential purposes and has accomplished the manufacturing of its MWh system for large-scale microgrid purposes.
Its renewable power storage options have already been deployed to satisfy power wants in numerous elements of the world via joint partnerships in Africa and Southeast Asia, with two batteries set to be deployed in Singapore’s Pulau Ubin this yr.
With a group of 60 folks, the agency can be researching the expansion of flow batteries for terminal usage and working a two-year trial to discover scaling stream batteries utilizing storage tank infrastructure.
“Advancements in renewable energy storage solutions will drive the acceleration of cleantech and help other industries come one step closer to meeting their sustainability goals. We already see increased demand for our batteries in creating infrastructure for electric vehicle (EV) charging, peak shifting of renewables, grid services, gated communities, telecom towers, and round-the-clock renewable energy integration,” stated CEO Kumar.
Additionally Learn: ‘Singapore isn’t ready for mass adoption of EVs yet; hybrid may be better for the present’
“Grid-level energy storage is critical in the transition to sustainable energy and is among our chief focus areas. VFlowTech is accelerating the transition to renewable energy while offering a solution to the current bottleneck in efficiency with its technology. With the signing of our binding framework agreement, we will also have the opportunity to popularise this technology in the Turkish market,” stated Zeki Şafak Ozan, CEO and Board Member of İnci Holding.
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