Swedish battery startup Enerpoly has secured $8.4 million in funding from the Swedish Energy Agency toward the construction of what it claims will be the world’s first megafactory to manufacture zinc-ion batteries.
The grant, which will be paid out over the next three years, will be used to demonstrate the zinc-ion batteries and is the first step toward financing the megafactory. Enerpoly said it will raise additional private capital through a Series A funding round.
The company is aiming to have the zinc-ion battery plant, called Enerpoly Production Innovation Center (EPIC), established in the next three years. When completed, it will have a final capacity throughput of 100 MWh annually.
The battery technology
The technology being developed for the zinc-ion battery features elements of zinc and manganese, materials that are abundant and easy to obtain through the Earth and recyclable materials.
Enerpoly said due to the abundance of the materials, the zinc-ion batteries will be insulated from supply chain issues and price volatility, as well as harsh labor practices.
Additionally, these batteries are non-flammable, non-explosive and can be used in critical infrastructure in urban areas, Enerpoly said.
The product roadmap for the megafactory includes developing automated manufacturing systems, improving energy efficiency in cell production and expanding the workforce in Sweden. The company said the megafactory will help the accelerated adoption of renewable energy that aligns with the European Union’s 2050 climate neutrality goal.
