Greentech Media reports that the liquid metal battery company I mentioned recently has received a round of venture capital funding - Sadoway’s MIT Liquid Metal Battery Startup Adds $15M and Khosla Ventures as Investor.
It's almost a cliche that the missing piece of a renewable energy future is low-cost energy storage.
"Until we find a technology that is low-cost, highly scalable, and long-lasting, ubiquitous grid storage won't be possible. The all-liquid battery's elegant materials design and simple assembly process makes it the best chemical option we've seen for storing the grid at massive scale."
That's Khosla Ventures partner Andrew Chung's comment on Liquid Metal Battery Corporation (LMBC). He's now on the board of the firm; he funded founder Don Sadoway's research at MIT before the firm won the top ARPA-E award back in 2009. LMBC just announced that it raised an additional $15 million in funding in its Round B from Khosla Ventures, Bill Gates and energy company Total
We spoke with Phil Giudice, the CEO of LMBC, as well. He said, "Our Liquid Metal Battery technology is tremendously exciting because it has the potential to dramatically change the electric power system everywhere," in a release. The CEO told GTM that the company had passed the R&D stage and was moving into commercializing the technology for large-scale grid applications.