- Ambri has secured funding to develop production facilities.
- The company produces long-term energy storage systems.
- The company says it can provide storage systems of 10MWh to 2GWh
US energy storage systems developer Ambri says it has secured $144 million to market its long-duration battery technology and build production facilities. Ambri is backed by venture capital firm Khosla Ventures, Bill Gates and French energy giant TotalEnergies. The company manufactures containerised long-duration battery storage systems by using liquid metal and molten salt.
Ambri raised funds from a financing round led by India’s Reliance New Energy Solar Ltd, Paulson & Co Inc. r Bill Gates, New York-based Fortistar, Goehring & Rozencwajg Associates and Japan Energy Fund, also participated in the financing round.
Ambri plans to use the funds to construct production factories to produce calcium and antimony electrode-based cells and containerised systems. Reliance New Energy Solar will partner with Ambri in India, while Perpetua Resource, owned by investor Paulson & Co, will supply antimony. Ambri believes its liquid metal and molten salt technology is safer and cheaper than lithium-ion batteries.
Ambri’s executive chairman Dan Leff commented on the financing round: “this financing supports the commercial growth of our company and technology.” Ambri plans to begin deploying its solutions in projects scheduled for commissioning from 2023. The company says it can provide storage systems with capacities of between 10MWh to over 2GWh.