Gridtential Energy, a Santa Clara, Calif.-based creator of advanced AGM battery technology Silicon Joule, raised $12M in financing.
The round was led by 1955 Capital with participation from Silicon Valley Bank, August Capital cofounder David Marquardt, ReneSola CEO Yumin Liu and existing investors East Penn Manufacturing, Crown Battery and the Roda Group joining as well.
The company, which has raised $28M to date, intends to use the funds to support a new production line of advanced lead reference batteries, including the single-block 24V deep-cycle lead battery.
Led by John Barton, CEO, Gridtential is the creator of Silicon Joule™, advanced AGM battery technology for power applications including personal electric vehicles, renewable energy storage systems and hybrid automotive.
The company provides Silicon Joule™ reference batteries, development kits, bipolar materials and non-exclusive licenses, enabling manufacturing partners to adapt their factories to provide high voltage 24V, 36V & 48V batteries to their customers for the hybrid-automotive, Low-Speed EV (LSEV), energy storage system (ESS) & telecom backup markets, all without gigascale capital investments.
Silicon Joule is in use today by 12 battery partners and several OEMs.