LiNa Energy successfully closes funding round
British battery startup LiNa Energy has announced the successful funding round that will enable the building of an automated solid-state electrolyte manufacturing line at the company’s first pilot-scale production facility.
The round was led by Jacob Wolff-Petersen and is comprised of which comprises £2.7m of equity and £815k grant from the Future Enterprise Investor Partnership administered by Innovate UK. LiNa also secured an advanced commitment for future funding.
The company is focused on solid-state sodium batteries primarily for stationary storage purposes. LiNa’s sodium batteries are manufactured from abundant raw materials such as food-grade salt and iron.
In December 2023, LiNa Energy said it would be using a manufacturing solution being developed by the Italian automation specialist Comau, part of the Stellantis Group. LiNa intends to use this to significantly increase the production capacity of its patented battery cells to make large-scale manufacturing possible.
Will Tope, CEO, LiNa Energy said: “Over the past 12 months we have seen surging demand for longer-duration storage systems and alternatives to lithium-ion, and this is only going to increase further. With our first system deployed in India, this recent funding and the welcome support of Innovate UK allows us to scale to automated manufacturing and keep up with our exciting slate of projects in India, Europe, and the Middle East.”
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