Solid-state sodium-ion battery company LiNa Energy closes a US$3.4 million seed funding round from its existing investors. The funding will be used to accelerate the commercialization of its next-generation electrolyte. Further automating the manual processes in assembling cells and perform pre-FEED studies for the next scale of manufacturing facilities.
Also, the funding gives LiNa Energy to deliver customer trial programs including feasibility studies and co-testing with the Eden Project and Garic, with whom they have MoUs in place to demonstrate its technology in its beachhead applications. LiNA will also build a presence in India where LiNa has signed an MoU with Social Alpha to optimize product development for the Indian market and oversee battery cell testing and future pilot projects.
Furthermore, LiNa’s battery cells utilize proven Sodium-Metal-Chloride chemistry in a planar design made possible with an ultra-thin solid ceramic electrolyte. LiNa’s solid-state ceramic electrolyte reduces ionic resistance and removes unproductive mass, unlocking a two-fold performance improvement in energy densities versus alternatives. Avoiding the need for conventional flammable liquid electrolytes means that LiNa cells are inherently safe. This year’s late seed funding round builds on the foundation of the funding raised in October 2021 which focused on two core activities: accelerating the technology development and progressing commercialization activities.