Team Startupcity

• Offgrid Energy Labs raises $15 Million in a funding round led by Archean Chemical Industries, with Ankur Capital also participating.
• Startup to set up a UK-based pilot manufacturing plant, scale R&D, and commercialize zincgel battery technology.
• Zinc-bromine gel batteries positioned as a safer, cleaner alternative to lithium-ion for long-duration stationary energy storage.

Battery technology firm Offgrid Energy Labs raised $15 million in a round led by Archean Chemical Industries Limited, with the existing investor Ankur Capital also joining the round.

The Noida startup intends to utilize the new funding to set up a pilot manufacturing plant in the United Kingdom in the next 12 months, scale up its research and development (R&D) capabilities, and commercialize its zincgel batteries, according to the founders.

"This money is largely to establish a demo manufacturing plant for the end product in the UK. Once the UK plant comes on stream, we intend to start a manufacturing plant in India", said Rishi Srivastava, the company's cofounder.

Offgrid Energy Labs, founded by Brindan Tulachan, Ankur Agarwal, Srivastava, and Tejas Kusurkar in 2018, aims to minimize reliance on lithium-ion storage solutions using zinc-bromine gel batteries for the stationary storage industry with a safer and cleaner substitute. Stationary storage industry is commercial infrastructure aimed at storing energy in non-mobile systems.

"Zinc gel is best suited for deep discharge, 6-to-12-hour long-duration energy storage. That's where it dominates it's very hard for lithium to compete in this space. It's the same for other battery chemistries to survive and pass commercial standards in this use", stated Kusurkar, Offgrid Energy Labs chief executive officer.

Also Read: Adda247 Secures $ 35 Million to Boost Government Exam Prep Across India

This comes at a time when the central government has planned to achieve 500 gigawatts (GW) of electricity generation based on renewable energy by the year 2030. As of last month in August, battery energy storage system capacity of 500 megawatt-hours (MWh) is in operation, as stated by the India Energy Storage Alliance.

The firm has raised the total amount of $12 million across earlier funding rounds, as per Tracxn. Offgrid Energy Labs intends to apply its technology in three distinct fields industrial net-zero projects using battery energy storage, peak power management, and powering off-grid locations like islands and rural towns.

"Our large-scale chemical manufacturing experience aligns with Offgrid's game-changing science, and this collaboration will be a solid foundation for giga-factory scale manufacturing.Our expertise in chemical manufacturing and execution of global supply chains will be essential in scaling Offgrid's zincgel from pilot to giga-factory readiness, delivering operation excellence as technology scales", said Archean Chemical Industries promoter and managing director Ranjit Pendurthi.

The company has created more than 25 intellectual property (IP) assets, and its own proprietary electrolyte is at the center of its technology. The company is currently operating in India and Europe but aims to expand its reach to additional regions in the years to come.