Noon Energy's Breakthrough Renewable Energy Storage Space Modern Technology Lands $3M Seed Investment

• Noon Energy Inc., designer of an advanced ultra-low-cost battery technology for long-duration energy storage, shut a $3 million Seed phase investment. Prime Impact Fund led the round as well as was joined by At One Ventures, Collaborative Fund, as well as Xplorer Capital.

"Long duration storage space is the missing out on link to a totally eco-friendly electric grid. This is a hard obstacle due to the fact that storage space times have to be increased from the 4 hrs typical these days's batteries to 100 hrs or more. No other efficient battery chemistry resembles Noon's low cost due to the fact that it utilizes just the plentiful components carbon and also oxygen to store the energy. It was once assumed impossible to develop a battery utilizing just these components. Thanks to Noon's breakthrough modern technology, that is no more the instance."-- Dick Swanson, Founder of SunPower, and also Director on Noon's Board.

Today's widely used batteries store energy in reasonably pricey metals like lithium, cobalt, and vanadium. In contrast, Noon's battery stores energy in the ultra-low-cost elements carbon and oxygen-- storage space media that cost well listed below $1 per kWh capability, less than the cost of their containers. It does this at dual the round-trip energy performance of hydrogen.

"Noon Energy uses a fundamentally novel battery technology with an extraordinarily inexpensive privilege. The innovation could be considerably lower-cost than lithium-ion batteries at long durations, enabling recurring renewables to be 100% 'on-demand' power. We are really excited by what Chris and the group are constructing, as well as are proud to have actually led the Series Seed round."-- Amy Duffuor, Principal at Prime Impact Fund, as well as Director on Noon's Board.

Noon's battery will provide long-duration stationary storage space at a 10x lower storage price than lithium-ion batteries, enabled by its earth-abundant materials as well as basic reaction chemistry. Sized at the 100+ hours storage capability needed, it will certainly make periodic solar as well as wind power on-demand, 24/7 year-round, at a reduced expense than fossil fuel generation and with no emissions. Appropriate to both grid-scale and smaller applications, Noon provides solar-plus-storage days to weeks of reputable storage ability, raising crucial grid as well as website resilience. In addition, its high energy thickness (double lithium-ion at full system level) will make it possible for longer-range electric ships, trucks, as well as various other automobiles.

"We have been trying to find a sustainable battery solution with disruptive unit economics for some time as well as believe we have actually lastly discovered it with Noon. By keeping energy in one of the most earth-abundant elements, Noon not just decreases the expense of energy storage dramatically, but likewise our reliance on mined steels like lithium and also cobalt positioning major social and also ecological troubles today. We are thrilled to partner with Chris and the team to bring this solution to the market."-- Laurie Menoud, Partner at At One Ventures.

"Noon staff member and I had actually laid the groundwork at Columbia University as well as the Technical University of Denmark, where we created CO2-to-fuels electrolysis modern technology to keep sustainable electrical power in the form of hydrocarbon gas. Noon's novel battery is based upon the exact same core innovation, with vital modifications we developed. We have pulled together a first-rate group and we are thrilled to partner with this amazing team of capitalists to bring our breakthrough storage space technology to market."-- Chris Graves, creator and CEO of Noon Energy.

The same core technology is additionally presently on-board NASA's Mars Perseverance vagabond as well as will soon begin creating oxygen for the very first time by electrolysis of the CARBON DIOXIDE atmosphere on Mars. Noon's founder helped develop this gadget as part of the NASA "MOXIE" scientific research team given that 2014.