Le Lézard
Classified in: Oil industry, Environment, Transportation, Business
Subjects: FNC, RCY

Natron Energy Announces Strategic Investment by Chevron Technology Ventures


SANTA CLARA, Calif., Jan. 14, 2019 /PRNewswire/ -- Natron Energy, a developer and provider of disruptive new battery products using Prussian Blue electrode chemistry, has closed a strategic investment by Chevron Technology Ventures (CTV) to support the development of stationary energy storage systems for demand charge management at electric vehicle (EV) charging stations. Natron Energy will adapt its battery technology, originally developed for data center and utility scale applications, to meet the power requirements of the emerging EV fast charging market.

"Chevron Technology Ventures is excited about the opportunity to support Natron Energy's development of high-performance energy storage systems," said Jesse Teichman, who led the investment by CTV. "The high-power density and fast charging time of Natron's unique battery technology make it an attractive storage solution for the EV station of the future."

Prussian Blue dye, commonly used in blueprints, stores and releases energy in the form of sodium ions. Unlike the electrode materials found in most lithium-ion batteries, Prussian Blue enjoys a widespread availability and low cost that make batteries based on Prussian Blue electrodes an economically attractive, environmentally friendly technology.

"This investment furthers CTV's objective to foster and support the innovation that will enable the next generation of energy products and services," continued Barbara J. Burger, CTV's president.

Natron's patented technology uses Prussian Blue pigments in both the positive and negative electrode of the battery. Prussian Blue has a unique structure and composition that allow it to store energy much more rapidly and reversibly than other types of battery electrodes. For this reason, batteries based on Prussian Blue can be fully charged and discharged tens of thousands of times at very high power. This has allowed Natron to build the first battery in which chemistry does not limit the lifetime of the system, opening up new opportunities for energy storage to support EV charging, renewables such as solar and wind, and industrial applications. In addition, Natron's batteries provide improved safety compared to incumbent technology as they are nonflammable during overcharge, hard short circuit, nail penetration, and under external heating to over 200° C.

"Vehicle electrification will be one of the defining economic trends of the next decade. Widespread EV adoption depends in part on technologies that enable ubiquitous fast charging and that mitigate drivers' range anxiety. As a global leader in transportation energy services, Chevron has recognized this," said Colin Wessells, CEO at Natron Energy. "We are thrilled that CTV has chosen to support Natron. This investment provides a terrific boost to us as we develop and demonstrate energy storage products that will make fast charging stations a reality."

According to the U.S. Department of Energy, access to fast charging stations, in combination with the recent increase in EV range, has reduced range anxiety associated with battery electric vehicles and may accelerate EV adoption. However, there are high electricity delivery costs for high power fast charging stations. One potential technology solution for fast charging stations may be the use of stationary batteries to supplement demand for grid power.

About Natron Energy, Inc.

Natron Energy is developing battery products based on a unique Prussian Blue chemistry for a wide variety of energy storage applications ranging from critical backup power systems, material handling, behind-the-meter applications, and renewables support. Natron's battery offers higher power density, faster recharge, and significantly longer cycle life than incumbent technologies. Natron builds its batteries using commodity materials on existing cell manufacturing lines.

Natron was founded as Alveo Energy in 2012 as a spin-out from research originally performed at Stanford University. Natron's mission is to transform industrial and grid energy storage markets by providing customers with lower cost, longer lasting, more efficient, safer batteries. Natron is backed by leading venture capital investors and has received support from the U.S. Department of Energy's Advanced Research Projects Agency ? Energy (ARPA-E).

About Chevron Technology Ventures

Formed in 1999, CTV pursues new business solutions and externally-developed technologies that have the potential to enhance the way Chevron produces and delivers affordable, reliable and ever-cleaner energy. CTV fosters innovation outside and inside Chevron, supporting vibrant startup ecosystems externally and championing technology integration and innovation internally. Through its technology deployments and venture capital portfolio, CTV has supported a wide range of pioneering companies and technologies and is helping shape the future of energy.

 

SOURCE Natron Energy


These press releases may also interest you

22 mar 2019
The "Airport Robots Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering. The airport robots market is estimated to register a CAGR of over 15% during the forecast period, 2019-2024....

22 mar 2019
Drivers searching for a quality and reliable used car in Central Florida have a big advantage thanks to a local dealership that is providing them with detailed model reviews on its website. Shopping for a used car can be a difficult task, even for...

22 mar 2019
Spring is the perfect time for a vehicle upgrade. Vehicle shoppers in the Birmingham-area looking for an affordable lease on a new 2019 Toyota car, crossover, truck or van can find lease incentives at Serra Toyota through April 1 during the Ready Set...

22 mar 2019
BSM Technologies Inc. (the "Corporation" or "BSM") , a leading provider of Internet of Things (IoT) enabled telematics and asset management solutions, today announced its voting results from its annual general and special meeting of shareholders (the...

22 mar 2019
Ehrhardt Partner Group (EPG), a leading global provider of supply chain execution and voice software solutions, today announced that Marco Ehrhardt, its president and CEO, has been named among Food Logistics' 2019 Food Logistics Champions: Rock Stars...

22 mar 2019
Leaders from Montréal's tourism industry were honoured yesterday at the Distinction Awards, an annual gala celebrating innovative business strategies. The event, which took place at the Montreal Museum of Fine Arts, was organized by Tourisme Montréal...



News published on 14 january 2019 at 08:00 and distributed by: