British startup LiNa Energy, a spin-off from Lancaster University specializing in solid-state sodium battery technology, has successfully concluded a funding round to support the scaling of its operations.
The investment, led by Jacob Wolff-Petersen, consists of £2.7 million in equity and an £815,000 grant from the Future Enterprise Investor Partnership, administered by Innovate UK. Additionally, LiNa Energy has secured an advanced commitment for future funding.
The funding will enable LiNa Energy to establish an automated solid-state electrolyte manufacturing line at its first pilot-scale production facility. This investment marks a significant step towards increasing the production capacity of LiNa’s patented battery cells, using abundant raw materials such as food-grade salt and iron.
CEO Will Tope expressed confidence in the growing demand for longer-duration storage systems and alternatives to lithium-ion batteries, stating, “Over the past 12 months, we have seen surging demand for longer-duration storage systems and alternatives to lithium-ion, and this is only going to increase further.” He added, “With our first system deployed in India, this recent funding and the welcome support of Innovate UK allows us to scale to automated manufacturing and keep up with our exciting slate of projects in India, Europe, and the Middle East.”
In December 2023, LiNa Energy announced its plans to use a manufacturing solution developed by the Italian automation specialist Comau, part of the Stellantis Group. This move is aimed at significantly increasing the production capacity of LiNa’s battery cells, paving the way for large-scale manufacturing.
