Ambri Raises $35 million to change the way we store energy

The use of renewable energy is growing in the U.S., but its adoption has put pressure on old, overtaxed power grids. The intermittency of wind and solar power means that transmission systems need to find a way to store the energy generated from renewables to provide predictable power for grid operators. The latest company to try its hand at solving the problem for utilities is Ambri, which just raised $35 million in new capital from new investors KLP Enterprises.

Progress being made by battery startup Ambri suggests that the market for long-duration grid energy storage is finally taking shape. Storing wind and solar power using today’s battery technologies is too expensive, but new technologies could make it affordable, enabling wider use of renewables. The Cambridge, Massachusetts, company this week said it has raised a $35 million series-C round to fund the production of prototype batteries from an existing factory and finance construction of a commercial-scale plant. The company intends to test prototypes in the field this year and produce full-size batteries for paying customers by 2016.

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