TaiSan raises over £1 million to develop sodium batteries
Summary
The funding round was led by EIT InnoEnergy and TSP Ventures, with Heartfelt VC and Exergon, who collectively raised \xa31.3m for the automotive battery company. With the new funds, TaiSan is planning to improve its battery manufacturing processes, targeting a 20 per cent cost saving at the GWh-level. The company already has its customers lined up as well and has signed MOUs with 12 global automotive OEMs.So far, TaiSan explains that it has received nearly \xa3500,000 in funding from multiple UK Government and Research organisations, including the Department for Transport (DfT), The Faraday Institution, Innovate UK, Advanced Propulsion Centre, Royal Academy of Engineering and Catapult Connected Places.TaiSan was launched in 2022 with the objective of developing an industry-disrupting sodium battery for BEVs with increased energy density. Since then, TaiSan has developed its own proprietary, innovative polymer electrolyte featuring a metal anode.On behalf of our entire team, I am delighted to announce the completion of this pre-seed fund raise and would like to thank our expert strategic investors for their vision and full support. Sodium-ion offers significant cost, sustainability and safety benefits for the BEV industry, said TaiSans CEO Sanzhar Taizhan, adding: TaiSans novel electrolyte and anode material innovations will bring this technology to the next level batteries becoming smaller, lighter, with best-in-class energy density, and major cost savings too.