Natron Energy, a leading developer of low-cost Sodium-ion batteries using Prussian Blue chemistry, has raised USD 35 million in Series D funding
Natron Energy, a leading developer and supplier of high-power, long-life and low-cost Sodium-ion batteries using Prussian Blue chemistry, has announced that it has raised USD 35 million in Series D funding to further its product operations to meet market demand. ABB Technology Ventures, NanoDimension Capital and Volta Energy Technologies co-led the round, with existing investors Chevron, Khosla Ventures and Prelude continuing their participation in funding.
“Our customers in the data centre and telecom markets value the safety, sustainability and performance of our sodium-ion batteries,” said Colin Wessells, Natron’s CEO and co-founder. “This funding round allows Natron to accelerate production to serve the increasing demand for safe, fire code compliant alternatives to both lithium and lead batteries.”
The firms’ battery products address new “edge” and distributed computing infrastructure environments, hyperscale data centres, telecom, network and industrial applications—where customers and partners are integrating its technology into their critical infrastructure systems.
“Natron Energy is a great addition to the ABB Technology Ventures investment portfolio and for ABB’s business lines. Its technology helps enable safe, smart and sustainable electrification, and we believe the company is well-positioned for growth within the already enormous data center infrastructure market. Given the recent introduction of NFPA 855 fire codes and testing of battery systems for UL9540a, Natron’s combination of high power, safety and sustainability is more important than ever,” said Thomas Vogel, Vice President, ABB Technology Ventures.
Recent National Fire Protection Association 855 fire codes in the US, imply that safe, sustainable battery technology is in particularly high demand among the growing data center market. Natron’s battery technology enables energy storage products that are both higher-powered and safer than traditional options—with none of the fire, explosive gas or thermal runaway risks associated with lithium or lead batteries. Natron’s batteries are 1973 recognized by UL (Underwriters Laboratories), the definitive third-party evaluation of energy storage safety, reliability and performance.
Just like their energy storage technology, their production methods are cost-effective and sustainable. The firm builds its batteries using commodity materials on existing cell manufacturing lines—meaning that no new factories are required to manufacture their technology. Its batteries can be produced with locally-sourced materials around the globe, and its technology can be applied across multiple sectors.
“Natron is an ideal addition to Volta Energy Technology’s investment portfolio of technologies and businesses that will enable the ubiquitous adoption of both renewable power generation and electric vehicles,” said Volta founder and CEO Jeff Chamberlain. “Natron’s technology is not only ideally suited to the data center industry; it has immense potential to have grid-level impact. We are pleased to join ABB Technology Ventures, Chevron, NanoDimension Capital and Prelude in this smart investment in the future of energy storage.”
The Series D investment pushes Natron’s total funding since inception past USD 70 million and will increase the commercialization of Natron’s sodium-ion battery up to 10 times by 2021.