Energy and Battery Startup Gridtential Energy Closes $11 Million
Gridtential Energy announced the completion of $11 million in Series B financing. 1955 Capital led the round, with participation from East Penn Manufacturing, Crown Battery Manufacturing, Leoch International, Power-Sonic, and The Roda Group.
Gridtential has developed a proprietary technology for an advanced lead-acid battery that replaces the metal grid in current lead-acid battery designs with a silicon substrate. The Gridtential technology yields higher energy density and longer cycle life, and deeper depth-of-discharge than incumbent products.
The company revealed that Gridtential will use the new capital to expand development and licensing agreements to meet growing global demand for advanced energy storage in the automotive, backup power, grid solutions, and mobility industries.