The Series C funding round takes Viridi Parente’s valuation to US$700 million. With the passenger vehicle industry representing around 3% of the world’s GDP today, Williams said, “Viridi is developing safe, resilient and cost-effective point-of-use lithium-ion battery systems that will power the other 97% of our economy”. Williams said, noting however that “technology designed for cars does not translate into other sectors of the economy where safety, resilience and cycle life are the leading design requirements”. The majority of global innovation in lithium-ion batteries has been focused on passenger vehicles, Viridi Parente CEO and chairman Jon M. Volta Energy claimed the integration of the thermal shielding into its battery pack architecture will make it safe to install the brand’s energy storage systems indoors and outdoors and could be used anywhere from data centres and manufacturing facilities to residential and commercial sites as well as medical or research facilities which have a critical need for resilient power. We’re very excited to be part of the technology to bring fail-safe lithium-ion energy storage to point-of-use customers.” “Viridi has not only innovated fail-safe pack design using these new technologies, they have innovated methods for testing pack safety in extreme conditions that no one else has even attempted. “Volta Energy’s pack architecture uses the same carbon fiber thermal management technologies we developed for NASA’s demanding space program, including crewed missions,” KULR CEO Michael Mo said. Volta placed an initial order with KULR for US$1.6 million of high volume deliveries beginning this year, as part of a three-year deal. KULR has already provided the tech to NASA for its space missions, including the Mars Perseverance Rover, as well as to aerospace companies. The shield’s Passive Propagation Resistant (PPR) solution is designed to prevent thermal runaway, which can be caused by short circuits or physical shocks to battery cells, and which can cause fires, from spreading from cell to cell. Last month, Energy-Storage.news reported that Volta Energy formed a partnership with KULR Technology Group, a maker of patented carbon fibre thermal management technologies which can act as a shield against thermal runaway in batteries. It has two main brands: Green Machine, which makes electric battery-powered construction equipment, and Volta Energy, which makes scalable lithium-ion battery packs for distributed energy storage configurable from 50kWh to 5MW. Occupying part of a large industrial campus that was built in 1923 by GM, the company was founded in 2009 and a year later unveiled its first all-electric excavator powered by batteries, thought to be the first of its kind in the world.
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