Alsym Energy has come out in stealth mode to provide cheap and efficient rechargeable batteries

Alsym’s non -flammable natural batteries, made from readily available materials without lithium or cobalt, will be made for EVs, stationary storage and marine applications

WOBURN, Massachusetts, June 15, 2022-(BUSINESS WIRE)-Alsym ™ Energy, developer of next-generation rechargeable batteries, announced today that it is moving to stealth mode to provide energy storage solutions for electric vehicles. vehicles (EVs), stationary storage and marine applications. Alsym’s battery technology promises to deliver the same performance as lithium-ion batteries, at a fraction of the cost and without the inherent risk of fire. The company’s batteries are not very susceptible to raw material shortages and price volatility because they use cheap materials with a strong supply chain.

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Alsym Energy operates on low -cost and high -performance rechargeable batteries at an R&D facility in Massachusetts. (Photo: BusinessWire)

To accelerate the development of these affordable battery systems, Alsym is partnering with a leading India-based automotive manufacturer to work together to develop Alsym batteries for the success of EVs, the automaker has will contract with Alsym to provide battery systems with a minimum production capacity of three. (3) gigawatts per hour (GWh), per year, for use in its products. Alsym is also in talks with companies in the marine expedition and electric two-wheeled vehicle markets to form similar partnerships.

“Lithium is naturally flammable, and lithium-based battery technologies carry a lot of risks,” said Mukesh Chatter, CEO and co-founder of Alsym Energy. “Alsym Energy is on a mission to provide cost-effective energy storage solutions to the world, using advanced battery materials, non-flammable in nature, other than lithium, by using non toxic, readily available resources to enable emerging mobile and stationary.storage industries.We are excited to work with industry partners to produce the next generation of batteries and validate innovations that will enable widespread access to clean electricity, all over the world. »

Alsym’s team of scientists and product developers work hard to deliver and measure clean, energy -rich batteries that almost anyone in the world can afford because of their low price. Founded in 2015, Alsym has raised USD 32 million to date from investors including Helios Climate Ventures.

“Companies in the global battery market are competing to bring new products to market. Most companies are primarily focused on performance without really looking to make safer and more cost-effective batteries, especially for in the developing world where consumers are worried about price, ”said Nitin Nohria, Ph.D., President of Alsym’s Board of Business Consultants and former Dean of Harvard Business School. “The Alsym Energy team is committed not only to ensuring that its batteries meet performance expectations at lower cost, but also to avoiding the supply chain challenges associated with technology-based lithium. Not only are Alsym batteries environmentally friendly, but the company’s business model is also aligned with sustainability. »

The company estimates that its batteries cost less than half the price of current lithium-based batteries, allowing automakers to offer EVs at a lower price than comparable models with internal combustion engine. The use of non-flammable and non-toxic materials eliminates many of the end-of-life concerns often associated with batteries, and Alsym’s ease of battery recycling helps ease the burden on batteries. handles waste, landfill, and other parties responsible for battery waste management.

Alsym is currently in the process of building a prototype 500-kWh generation plant in Massachusetts. Because the materials used are non-flammable and non-toxic, Alsym batteries can be easily made in almost any industrial area. They can also be made in existing lithium-ion battery factories with little or no modification, at lower operating costs, and without the need for dry rooms, fire interlocks, and solvent recovery systems, which includes large costs.

About Alsym Energy
Alsym ™ Energy is a leading developer of advanced, low-cost, high-performance rechargeable batteries made from readily available non-flammable and non-toxic materials, providing an economical alternative to lithium-based technologies . The company focuses on the commercial development and mass production of batteries for use in a variety of applications, including electric vehicles and two-wheeled vehicles for personal transportation, marine shipping, and stationary energy storage, to ensure carbon-free that future. To learn more, please visit www.alsym.com

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contacts

Media
Cassandra Sweet
Antenna Group for Alsym Energy
alsym@antennagroup.com

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