Smart Energy News

Easton, Penn. – Eos Energy Storage, a privately held developer of electric batteries for the utility and transportation industries, which two weeks ago indicated in a regulatory filing that it has raised $1.7 million in a venture capital round, disclosed that it has increased the amount raised to $5.5 million.

In its new SEC filing, Eos indicates that it plans to eventually raise a total of up to $20 million in its current round of venture capital.

Founded in 2007, Eos is focused on developing low-cost batteries using zinc-air technology, which are powered by oxidizing zinc with oxygen from the air. The batteries have high energy densities and are relatively inexpensive to produce, according to the company.

Zinc-air batteries can range in size from very small (button cells for hearing aids) to very large ones used to power electric vehicles.

Steven Amendola, Eos’ inventor, is also the inventor and founder of Renewable Silicon International (RSi), a silicon processing technology which has been funded by the Quercus Trust and has started manufacturing at its plant in Easton, Penn.

Photo credit: Eos Energy Storage

Eos Energy Storage website

Eos new SEC filing

Easton, Penn. – Eos Energy Storage, a privately held developer of electric batteries for the utility and transportation industries, has raised $1.7 million in a venture capital deal, according to a new filing by the company with the Securities and Exchange Commission.

Founded in 2007, Eos is focused on developing low-cost batteries using zinc-air technology, which are powered by oxidizing zinc with oxygen from the air. The batteries have high energy densities and are relatively inexpensive to produce.

Zinc-air batteries can range in size from very small (button cells for hearing aids) to very large ones used to power electric vehicles.

Eos plans to sell its initial rechargeable zinc-air battery products for $1000/kW and $160/kWh. It is rechargeable with a life of over 10,000 cycles (30 years) with “a full duty cycle and at full depth of discharge,” according to the company.

Steven Amendola, Eos’ inventor, is also the inventor and founder of Renewable Silicon International (RSi), a silicon processing technology which has been funded by the Quercus Trust and has started manufacturing at its plant in Easton, Penn.

In its new SEC filing, Eos indicates that it plans to eventually raise a total of up to $20 million in its current round of venture capital.

Image credit: Eos

Eos Energy Storage website

Eos’ SEC filing

Lafayette, Colo. – Porous Power Technologies, a maker of electrode separators that reduce the cost and improve the performance, efficiency and life of lithium-ion batteries, has raised $1.1 million in convertible debt, according to a new filing by the company with the Securities and Exchange Commission.

Founded in 2006, Porous Power offers a production system that allows lithium-ion cell battery manufacturers to improve the performance, safety and cost of separators — the membranes that separate electrodes.

Japan-based Chisso Corp. has partnered with Porous Power to produce new variants of the company’s battery separators for use in automotive batteries.

Last year, Porous Power signed a $1.4 million research and development agreement with Oak Ridge National Laboratory to commercialize a new lithium-ion battery manufacturing process.

The company plans to license its process to manufacturers.

Porous Power website

Porous Power’s new SEC filing

Waltham, Mass. — IHI Corp., one of the largest industrial equipment manufacturers in Japan, announced it has expanded its business development partnership with A123 Systems, a developer of advanced batteries. As part of the deal, IHI has invested $25 million cash in A123. The two companies first partnered in 2009.

Under the terms of a new technology license agreement, IHI will be the exclusive provider of A123 battery systems and modules in the Japanese transportation market. A123 said it expects the partnership will enable it to leverage the customer relationships IHI has developed with leading Japanese automakers.

A related product supply agreement also makes A123 the exclusive supplier of lithium ion battery cells to IHI for future transportation and non-transportation applications that IHI may develop, “which has the potential of creating new market opportunities for A123 technology across IHI’s global businesses,” according to the announcement.

A123’s Nanophosphate technology is built on new nanoscale materials initially developed at the Massachusetts Institute of Technology, designed to deliver high power and energy density, increased safety and extended life.

A123 website

IHI Corp. website

Bethesda, Md. – Prudent Energy, a developer of energy storage technology for electric utilities, announced on Wednesday it has raised an additional $29.5 million in a round of venture capital, which was led by Mitsui & Co.

Prudent Energy was formed in 2009 through the acquisition of all VRB Power’s patents, trademarks, and equipment.

The company’s battery energy storage technology is a long-life, “flow battery” system. that allows utility customers to balance load, bridge generation, and regulate voltage and frequency.

The company also sells or leases its systems and services to commercial onsite generators and telecoms companies to reduce their operating expenses and provide backup power. Prudent Energy’s systems operate at room temperature and uses an energy-storing electrolyte that never wears out, according to the company.

The company recently announced sales of an 8 MWh energy storage system to the State Grid Corporation of China, as well as systems in Asia, USA, and Europe.

Other investors in Prudent Energy include Draper Fisher Jurvetson, DT Capital Partners, Northern Light Venture Capital, CEL Partners, Idinvest Partners, Asia Clean Energy, Vangoo Investment Partners, and an undisclosed, Korea-based strategic investment group.

Prudent Energy website