VCs take to grid batteries in $35M funding for Ambri

05/5/2014 | MIT Technology Review online

Ambri, a developer of grid energy storage batteries, has received $35 million in its latest round of private funding, bringing its financing total to more than $50 million. The startup will utilize the money to make prototype batteries at an existing plant and fund the building of a commercial-scale factory. "The need for longer duration storage is starting to materialize," says Rick Fioravanti of DNV GL Energy, a consulting firm. "It is up to the manufacturers to deliver."

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