Offgrid Energy Labs, a startup based in Noida, India, has raised $15 million in Series A funding to boost its ZincGel battery technology. This move aims to offer a safer and cheaper option compared to lithium-ion batteries for storing energy from renewable sources, with plans for pilots in the UK and a large plant in India.
Funding Details and Key Investors
This fresh capital comes at a key time for the energy storage sector. The round was led by Archean Chemical Industries, with support from existing backer Ankur Capital. Offgrid Energy Labs plans to use the money to speed up research and build a pilot factory in the UK over the next year.
The startup also eyes setting up a gigawatt-scale manufacturing site in India. This fits into the broader push for local production amid global supply issues. ZincGel batteries use zinc-bromine chemistry, which cuts costs and boosts safety.
Experts point out that lithium prices jumped 20 percent early this year due to supply problems in South America. Offgrid’s approach could help avoid such risks by relying on more common materials like zinc.
Why ZincGel Stands Out as an Alternative
ZincGel technology tackles common problems with lithium-ion batteries. It provides a non-flammable option that lasts longer, with up to 5,000 charge cycles versus 3,000 for lithium.
This makes it ideal for hot climates like India’s, where heat can shorten battery life. The gel electrolyte improves recyclability and reduces fire risks, key for stationary uses like solar farms and microgrids.
Offgrid started in 2018, founded by engineers including Ankur Agarwal and Rishi Srivastava. Their work builds on zinc-based innovations, offering up to 40 percent lower costs.
Here are some main advantages of ZincGel over lithium-ion:
- Lower production costs due to abundant zinc supplies.
- Higher safety with no risk of thermal runaway.
- Better suited for long-term storage in renewable setups.
- Easier recycling, supporting green goals.
Alignment with India’s Renewable Energy Goals
India aims for 500 gigawatts of renewable power by 2030. Offgrid’s tech supports this by addressing storage needs. The country added 22 gigawatts of solar capacity this year alone.
Government programs like the new home battery rebates set for launch soon encourage such innovations. These efforts reduce reliance on imports and promote self-reliance in clean energy.
Offgrid’s plans include AI tools for battery monitoring to optimize performance. This could help in sectors like telecom and data centers, where steady power matters.
| Aspect | ZincGel Battery | Lithium-Ion Battery |
|---|---|---|
| Cost per kWh | Around $100 | Up to $150 |
| Cycle Life | 5,000 cycles | 3,000 cycles |
| Safety | Non-flammable | Fire risk possible |
| Main Use | Stationary storage | Various, including EVs |
| Environmental Impact | High recyclability | Mining concerns |
Challenges and Future Outlook
Scaling up brings hurdles. Zinc batteries sometimes lag in energy density, meaning they store less power per unit. Offgrid must improve this to compete widely.
Rivals like Gelion in Australia also work on similar tech. Yet, with bromine expertise from investors, Offgrid gains an edge in supply chains.
The startup has raised about $27 million total so far. Success here could position India as a leader in alternative batteries, cutting import costs and creating jobs.
Global Impact and Investor Confidence
This funding shows rising interest in non-lithium options worldwide. As demand for storage grows with renewables, ZincGel could play a big role in emerging markets.
Investors bet on its potential to hedge against lithium price swings. Recent events, like new gigafactories announced by Indian firms, highlight the sector’s boom.
Offgrid’s story inspires hope for sustainable energy shifts. It combines innovation with practical solutions for real-world problems.
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