Enerpoly

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Alternative Energy?
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Early
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Stationary Energy Storage
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Enerpoly is a Swedish next-gen energy storage technology company that produces zinc-ion battery cells and battery packs with 2–10-hour discharge durations. The batteries can be used for a range of applications including commercial and industrial standby energy, grid-scale storage, residential storage, and battery backups for electrical vehicle (EV) charging. 

Additionally, Enerpoly’s zinc-ion batteries are estimated to have 80% less carbon impact and 35% more cost savings when compared with lithium-ion batteries. They are also equipped with a battery management system to optimize performance.  

In 2022, Enerpoly assembled its first commercial scale zinc-ion battery cell. The company is also planning the construction of a 100 MWh mega-factory known as the Enerpoly Production Innovation Center (EPIC). The facility which is expected to be completed in 2026, will manufacture Enerpoly’s zinc-ion batteries.

Key customers and partnerships

Enerpoly has partnered with Polarium, Sting, Batteries European Partnership Association (BEPA), Scale for ClimateTech, International Zinc Association, Zinc Battery Initiative, and Koffman Southern Tier Incubator.

Funding and financials

Enerpoly’s latest funding was in December 2023, when the company secured SEK 88.5 million (~USD 8.4 million) in grant funding from the Swedish Energy Agency. The company intended to use the funds to construct a mega factory for manufacturing zinc-ion batteries. Prior to this in October 2023, Enerpoly received SEK 6.8 million (~USD 600,000) from Vinnova, the Swedish Governmental Agency for Innovation Systems. The company intended to use the funds to advance its battery technology.

In February 2023, the company received a EUR 870,000 (~USD 922,000) grant from the Eurostars-3 program to develop ZincMate energy storage devices in collaboration with Energy Efficient Technology. Prior to this, in December 2022, the company raised USD 1.5 million in a seed funding round. The company intended to use the funds to finance pilot projects that were to be carried out in 2023 to demonstrate zinc-ion battery technology.

HQ location:
Teknikringen 38 Stockholm SWE
Founded year:
2018
Employees:
11-50
IPO status:
Private
Total funding:
USD 13.9 mn
Last Funding:
USD 8.4 mn (Grant; Dec 2023)
Last valuation:
-
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