Redoxblox, a San Diego, CA-based firm offering low-cost thermochemical power storage methods (TCES), raised $40.7M in Sequence A funding.
The spherical was led by Prelude Ventures and joined by Crucial Ventures and New System Ventures, alongside present traders Breakthrough Vitality Ventures and Khosla Ventures.
The corporate intends to make use of the funds to broaden operations and its enterprise attain.
Redoxblox is offering new class of low-cost thermochemical power storage methods (TCES) designed to speed up industrial decarbonization and tackle lengthy length power storage wants for the grid. Its TCES items retailer power each chemically and as warmth at very excessive temperatures that may be discharged constantly or as wanted instantly into industrial processes or as an power supply for electrical energy technology.
The corporate additionally introduced the appointment of a brand new CEO, Pasquale Romano, previously President and CEO of ChargePoint and at the moment Member of The President of the US’ Nationwide Infrastructure Advisory Council (NIAC). Romano will lead the corporate by means of its subsequent section of development, increasing into key industrial warmth and lengthy length grid scale storage markets.
FinSMEs
01/11/2024
