Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Bill Gates-backed Ambri raises $144 million to finance long-duration energy storage projects By: Geothermal Energy RSS Feed August 13, 2021 at 10:05 AM EDT Ambri manufactures calcium and antimony electrode-based cells and containerized systems—a business model that targets cost and longevity issues with lithium-ion batteries. Energy storage developer Ambri announced a $144 million financing round, backed by India’s Reliance New Energy Solar Ltd, Paulson & Co. Inc, and the company’s largest shareholder, Bill Gates, among others.The funds will be used to finance and commercialize Ambri’s daily cycling, long-duration system technology and to build a domestic manufacturing facility, the company said in a press release. Ambri’s mission is to meet the needs of the grid-scale energy storage market and industrial energy customers, while supporting the transition to renewable energy sources.Read more: LS Power launches Rev Renewables to operate energy storage and renewable projects“This financing supports the commercial growth of our company and technology,” said Dan Leff, Ambri executive chairman. “Further, these funds are instrumental to driving our efforts to scale the company’s operations and establish our manufacturing infrastructure to meet rapidly expanding customer demand. We are delighted that our newest shareholders, who are world-class investors and strategic partners, are joining Ambri’s journey.”Reliance New Energy Solar Ltd, a subsidiary of Reliance Industries Limited, the largest private-sector company in India, will serve as Ambri’s strategic partner to develop and manufacture batteries in India.Ambri manufactures calcium and antimony electrode-based cells and containerized systems—a business model that targets cost and longevity issues with lithium-ion batteries. The company is now able to scale for projects from 10 MWh to over 2GWh.Subscribe to Renewable Energy World’s free, weekly newsletter for more stories like this Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Bill Gates-backed Ambri raises $144 million to finance long-duration energy storage projects By: Geothermal Energy RSS Feed August 13, 2021 at 10:05 AM EDT Ambri manufactures calcium and antimony electrode-based cells and containerized systems—a business model that targets cost and longevity issues with lithium-ion batteries. Energy storage developer Ambri announced a $144 million financing round, backed by India’s Reliance New Energy Solar Ltd, Paulson & Co. Inc, and the company’s largest shareholder, Bill Gates, among others.The funds will be used to finance and commercialize Ambri’s daily cycling, long-duration system technology and to build a domestic manufacturing facility, the company said in a press release. Ambri’s mission is to meet the needs of the grid-scale energy storage market and industrial energy customers, while supporting the transition to renewable energy sources.Read more: LS Power launches Rev Renewables to operate energy storage and renewable projects“This financing supports the commercial growth of our company and technology,” said Dan Leff, Ambri executive chairman. “Further, these funds are instrumental to driving our efforts to scale the company’s operations and establish our manufacturing infrastructure to meet rapidly expanding customer demand. We are delighted that our newest shareholders, who are world-class investors and strategic partners, are joining Ambri’s journey.”Reliance New Energy Solar Ltd, a subsidiary of Reliance Industries Limited, the largest private-sector company in India, will serve as Ambri’s strategic partner to develop and manufacture batteries in India.Ambri manufactures calcium and antimony electrode-based cells and containerized systems—a business model that targets cost and longevity issues with lithium-ion batteries. The company is now able to scale for projects from 10 MWh to over 2GWh.Subscribe to Renewable Energy World’s free, weekly newsletter for more stories like this
