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US start-up secures $144 million for liquid metal battery commercialization

From pv magazine USA

Ambri Inc., an MIT-spinoff long-duration battery energy storage system developer, secured $144 million in funding to advance calcium-antimony liquid metal battery chemistry.

The investment round was led by Reliance New Energy Solar Ltd, a unit of Reliance Industries Limited; Paulson & Co. Inc., a group that includes Ambri’s largest shareholder, Bill Gates; and new investors, including Fortistar, Goehring & Rozencwajg Associates, Japan Energy Fund, and others.

The company plans to use proceeds to commercialize and grow its long-duration system technology and to build manufacturing facilities, both in the U.S. and internationally.

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Ambri also entered into a long-term antimony supply agreement with Perpetua Resources.  The agreement helps secure a domestic source of antimony for its supply chain.

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Source: pv magazine