Inlyte Energy, a US-based developer of next-generation iron and salt-based grid batteries, has raised USD 8 million in a seed funding round led by At One Ventures. The company intends to use the funds to develop the first generation of its grid batteries.

Other participants in the round included First Spark Ventures, Valo Ventures, TechEnergy Ventures, Climate Capital, and Anglo American.

Founded in 2021, Inlyte Energy develops grid batteries from iron and table salt, leveraging the proven design of the previously commercialized sodium metal halide battery. The company claims that when compared to lithium-ion, sodium-ion, and other battery chemistries, its product will have the lowest cost once manufacturing is scaled. Furthermore, the batteries are expected to have a very long lifetime due to the solid ceramic membrane and non-flammable organic compounds while providing the same round-trip efficiency as lithium-ion.