LiNa Energy raises £3.5m for solid state sodium batteries
The £3.5m funding will be used to expand the laboratory facilities, boost recruitment and buy new equipment which will accelerate the commercialisation plan.
LiNa Energy is a spin-out from Lancaster University set up in 2017, is commercialising a safe, cobalt and lithium free solid-state sodium battery. The design has the potential to greatly exceed both lithium-ion and other sodium-ion technologies on all performance measures and cost under $50/kWh.
The funding will be used to triple the size of the lab and boost the headcount from 20 to 30 by the end of 2022. The company aims to secure customer trial partners in stationary energy storage and transport.
“This investment is a significant step towards achieving our goal to deliver a safe, affordable, mass-production solution to accelerate the two global mega-trends: electrification of transport and decarbonisation of energy,” said Dr Gene Lewis, CEO of LiNa Energy.
“For a small yet disruptive technology company like LiNa Energy, this funding is critical. It provides us with a 24-month runway and enables us to push forward our commercialisation plans prior to building a pre-commercial production line in 2023.”
Faradion in the UK has a commercial soldium battery liquid pouch cell for transport and energy storage applications, while Tiamat Energy is planning to start production of a sodium battery in France. CATL, one of the largest battery makers in the world, has also developed a sodium battery technology that it plans to build in volume.
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