Offgrid Energy Labs has raised USD 15 million to scale its ZincGel battery technology and drive the wider market adoption of the technology.
The funding will facilitate the commercialization of its zinc-based energy storage solutions, its expansion operations, and its manufacturing capabilities. The founder hopes to make ZincGel a safer and more eco-friendly alternative to lithium-ion batteries when used on a large scale.
Offgrid Energy Labs was established in 2018 and is developing energy storage systems focused on delivering high performance, safety, and recyclability. It is developing zinc-based batteries to be used in renewable energy integration, grid support, and mobility.
With partners and pilot customers, the company has been testing ZincGel to prove its usefulness in stationary and mobility applications. This funding will help Offgrid to fast-track partnerships, increase the scale of production, and broaden its market globally, including India.
The investment round highlights the rising popularity of non-lithium-ion because the energy storage requirements worldwide grow in accordance with the implementation of renewable sources of energy and electrification.
