Energy storage solutions provider VFlowTech has secured US$3 million in Pre-Series A financing led by Wavemaker Partners, with participation from Seed capital, Sing Fuels and other prominent angel investors. The new funding comes on the back of unprecedented attention worldwide on search for alternate energy storage solutions for renewables.
The company is reinventing industrial scale energy storage solutions with Vanadium redox flow technology by producing a low-cost long-duration storage modular battery solution.
VFlowTech will use the capital to expand business operations and has plans to scale manufacturing of redox flow battery energy storage systems. In the past year, VFlowTech has been actively delivering reliable and safe energy storage solutions to Independent Power Producers (IPP), Energy Procurement & Construction (EPC) and other users worldwide.
The company has built and deployed high quality energy storage solutions in Singapore, Japan and Australia to support multiple applications including powering an entire building for Shinoda Group, a Japan-based client using VFlowTech’s PowerCube battery.
VFlowTech has developed three key modular products: The base products are its 5 kW/30 kWh, 10 kW/100 kWh, 100 kW/500 kWh systems, which can be scaled to multi MWh.
VFlowTech currently has a pipeline of large-scale infrastructure projects in key markets like Australia and Africa. One key vision of the company is to empower communities around the world who live in remote and rural areas to transition to low cost reliable cleantech solutions and become diesel-free.
On average, a 10kW-100kWH system can provide up to two days of energy autonomy for most of the small households and remote communities in the region.
VFlowTech’s batteries have an expected life span of 25 years and are proven to have one of the safest and most environmentally friendly battery technologies. Unlike lithium-ion and lead acid batteries, flow batteries have flexibility to independently scale the battery’s storage power (kW) and energy (kWh) where deployments of power and energy vary based on the size of the battery stack and the volume of electrolyte stored in the tanks respectively.
VFlowTech’s energy storage solutions can also be used to develop self-reliant green Electric Vehicle (EV) charging stations. As part of the company’s expansion roadmap, it plans to work with strategic partners abroad to deploy its reliable energy storage solution to support the rapidly expanding EV market.
VFlowTech is also embarking on a project to develop an intelligent electric car fast-charging station concept for existing gas stations in Korea in partnership with Company We and Seoul National University of Science and Technology.