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Alsym Energy raises $78M to make batteries that don’t use lithium
Alsym Energy has raised $78 million to make batteries that don't use lithium or other materials that result in supply problems or high costs.
In 2022 in Monterey, California, a battery container caught fire at the Moss Landing energy storage facility, shutting down nearby Highway 1 and triggering a shelter in place order for a seven square mile area. “Battery storage systems can help provide firm capacity to the grid when the sun is not shining and wind is not blowing, but changing climates and hazardous environments demand flexible solutions that can meet a range of needs safely and economically,” said Kripa Varanasi, cofounder of Alsym Energy, in a statement. “Alsym’s low-cost batteries combine performance and safety, and their strategic partnerships reflect one of the key pillars of our Global Resilience thesis, which relies on radical collaboration with established industry partners to scale new, critical technologies.
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