CAMBRIDGE, MA, Electricity storage company Ambri has raised $35M in Series C funding.
Ambri has raised $35M in Series C funding. KLP Enterprises LLC was among the investors that joined existing backers Bill Gates, Khosla Ventures LLC and Total SA (FP) in the Series C funding round
Ambri (formerly Liquid Metal Battery Corporation) is developing an electricity storage solution that will change the way electric grids are operated worldwide. Ambri will enable the more widespread use of renewable generation like wind and solar, reduce power prices and increase system reliability. Ambri's technology - the liquid metal battery - was invented in the lab of Dr. Donald Sadoway, a professor at the Massachusetts Institute of Technology. At MIT, the Liquid Metal Battery Project built upon Professor Sadoway's 40 years of experience working with extreme electrochemical processes, ranging from aluminum smelting, to molten oxide electrolysis for extracting oxygen from lunar regolith, to lithium polymer batteries. The research on campus has been supported by the Deshpande Center, the Chesonis Family Foundation, ARPA-E and the French energy company, Total. David Bradwell (now Senior Vice President of Commercialization & Chief Technology Officer of Ambri) played an instrumental role in advancing the technology while he completed an M.Eng degree, a Ph.D degree, and a one-year postdoctoral fellowship. In 2010, Bradwell and Sadoway, along with Luis Ortiz, co-founded Ambri with the goal of commercializing the technology.
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