TechEnergy Ventures is investing in Noon Energy to revolutionize the Long Duration Energy Storage market
The fund joins a group of investors in support of a high-potential initiative to supply high energy density long duration energy storage solutions at competitive costs.
TechEnergy Ventures is pleased to announce its strategic investment in Noon Energy, a Palo Alto, California-based company developing an ultra-low-cost, high energy density, carbon-oxygen battery technology for long-duration energy storage (LDES). Founded by Chris Graves, Noon Energy is revolutionizing the LDES market with its innovative technology. The company raised a $28M Series A.
TechEnergy Ventures joins a group of investors including Clean Energy Ventures, Aramco Ventures, Emerson Collective, At One Ventures, Mistletoe, and Doral Energy-Tech Ventures, in supporting Noon Energy's mission to provide affordable and reliable LDES solutions. Noon Energy's technology has the potential to disrupt the traditional energy storage market by providing a cost-effective and scalable solution for renewable energy integration, grid stabilization, and more.
"The Long Duration Energy Storage segment has a wide range of implementation opportunities, many of which have footprint constraints and will be dominated by those that can deliver cost-effective storage at densities higher than what Lithium-based solutions can provide”, said Alejandro Solé, Chief Investment Officer at TechEnergy Ventures. We are excited to be a part of Noon Energy's journey and believe that their technology has the potential to revolutionize the way we store and use electricity”. He added that Noon Energy’s technology is unique and has the potential to disrupt the LDES segment by providing a cost-effective, scalable, high-energy density solution for renewable energy integration, grid stabilization and more.
TechEnergy Ventures is a Corporate Venture Capital belonging to the Energy Division of the Techint Group, focused on investing in innovative energy technologies that have the potential to change the way we produce and consume energy, with particular focus on (i) Hydrogen and Clean Fuels, (ii) Clean Power, (iii) Carbon Management and the (iv) Sustainable Lithium value chain.
Noon Energy is a Long Duration Energy Storage (LDES) company that has developed a patented battery technology that stores energy by splitting CO2 into solid carbon and oxygen. LDES is necessary to solve the intermittency inherent to renewable energy such as wind or solar. Furthermore, Noon Energy’s technology has unique energy density properties (up to 3x lithium-ion) that open up highly relevant potential markets such as urban grid decongestion, and mobile storage, among other applications.