Vanadium ion battery startup Commonplace Power raises $8.9M Sequence C from SoftBank Ventures Asia – TechCrunch

Standard Energy, a vanadium ion battery developer, launched at the moment it has raised a $8.9 million Assortment C from SoftBank Ventures Asia. The South Korea-based agency says its batteries’ advantages over lithium ion embody a lot much less risk of ignition and the comfort of sourcing vanadium. The latter is a crucial selling degree, as electrical vehicle makers face a potential shortage of lithium ion batteries.

Instead of serving as an alternative to lithium ion batteries, nonetheless, Regular Vitality chief authorities officer Bu Gi Kim talked about they complement each other. Vanadium ion batteries have extreme energy, effectivity and safety, nonetheless they aren’t as compact as lithium ion batteries.

Lithium ion batteries will proceed to be used in {{hardware}} that have to be cell, equal to electrical vehicles or shopper models like smartphones, nonetheless vanadium ion batteries are suited to “stationary” shoppers, like wind and photo voltaic vitality crops or ultra-fast charging stations for electrical vehicles (Kim talked about Regular Vitality is scheduled to ship its batteries to an ultra-fast charging station in Seoul rapidly).

Primarily based in 2013 by researchers from the Korea Superior Institute of Science and Know-how (KAIST) and the Massachusetts Institute of Know-how (MIT), Regular Vitality expects one among its vital shoppers to be the facility storage methods (ESS) sector, which the company says is anticipated to develop from $Eight billion to $35 billion throughout the subsequent 5 years.

“Plenty of renewable energy duties have slowed and even stopped in a number of areas on account of unstable battery effectivity of lithium ion. VIB can’t be as compact as lithium ion. Nonetheless, ESS duties or choices along with renewable energy crops current adequate home for our merchandise to be built-in into their methods,” talked about Kim.

Regular Vitality has already carried out an entire of over 1,000,000 battery testing hours, along with in a lab, at a licensed battery effectivity examine web site and in exact operations. Kim talked about the company is assured its effectivity information will persuade shoppers to undertake vanadium ion batteries.

In a press assertion, SoftBank Ventures Asia senior companion Daniel Kang talked about, “The current ESS market was in a state of imbalance on account of rapidly rising demand, and safety and effectivity issues with merchandise. Regular Vitality is anticipated to create new necessities for the worldwide ESS market by way of its progressive supplies and design experience with enormous manufacturing capabilities.”

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