VFlowTech Raises US$10M in Series A Funding

VflowTech, a Singapore-based provider of vanadium-based redox flow batteries, raised US$10M in Series A funding.

The round was led by Real Tech Holdings, SEEDS Capital, Wavemaker Partners, Sing Fuels, Michael Gryseels with participation from İnci Holding, Pappas Capital and Carbon Zero Venture Capital.

The company intends to use the funds to set-up a 200MWh production line capacity and scale up the manufacturing of its 250 kWh modular vanadium-based long duration energy storage solutions, to expand its market presence to Türkiye, the US, Japan and India with new partners, to strengthen the management team in the next year.

Led by CEO Dr Avishek Kumar, VFlowTech provides vanadium redox flow batteries – called PowerCubes – that features a power stack design that enables a more compact design, a round-trip efficiency higher than the industry standard, reduced parasitic losses and effective operation in temperatures of over 55°C. This makes them economical and versatile renewable energy storage solutions in the market. Different PowerCubes can be deployed anywhere from residential settings to solar and wind farms. 

To date, VFlowTech has commercially deployed 30 kWh and 100 kWh units for residential applications and has completed the production of its MWh system for large-scale microgrid applications.

The company has a team of 60 people.

FinSMEs

07/02/2023