Ambri Receives $35 Million to Build Liquid-Metal Battery Factory

Ambri Inc., a U.S. developer of liquid-metal battery technology, received $35 million from investors including Bill Gates and Vinod Khosla to build a commercial-scale factory.

KLP Enterprises LLC was among the investors that joined existing backers Gates, Khosla Ventures LLC and Total SA (FP) in the Series C funding round, Cambridge, Massachusetts-based Ambri said today in a statement. The company has raised more than $50 million in equity since it was founded in 2010 by researchers from the Massachusetts Institute of Technology.

Ambri’s batteries complement wind and solar farms, retaining power until sundown or when the breeze dies down so the plants deliver around-the-clock energy. That will make renewable resources as reliable as fossil fuels. It’s also an alternative to other storage technologies such as pumped-water plants.

The company has been approved to deploy prototypes in four states and is working with a half-dozen partners including First Wind Holdings Inc. and Consolidated Edison Inc., according to the statement.

Ambri opened its first manufacturing plant in November and won a $250,000 grant in February to test a prototype battery with Con Edison. (ED)

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Will Wade, Tina Davis

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.