Meine Electric Raises $750K for APAC's First Iron-Air Battery Development
Meine Electric has secured $750,000 in pre-seed funding to develop the Asia-Pacific's first iron-air long-duration energy storage systems. The funding, led by Antler, Rebalance, and Venture Catalysts, will help the company transition from prototypes to pilot-ready systems, aiming for a levelized cost of storage below $0.05/kWh. With the capability to store energy for 16-24 hours and full charging in eight hours, Meine Electric plans to deliver its battery systems by 2027, supported by multiple patents.
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Meine Electric has raised $750,000 (approximately ₹6.7 crore) in pre-seed funding to develop iron-air long-duration energy storage systems in the Asia-Pacific region. The funding was led by Antler, Rebalance, and Venture Catalysts, alongside contributions from AIC-AU Incubation Foundation and angel investors, including Alexander Hogeveen Rutter.
Founded in 2023 by Priyansh Mohan and Stuti Kakkar, Meine Electric aims to transition from laboratory-scale prototypes to pilot-ready battery systems, demonstrating a levelised cost of storage below $0.05/kWh (around ₹4/kWh). The iron-air technology allows for 16-24 hours of energy storage and can be fully charged in eight hours, making it suitable for integrating with solar-heavy grids. The company holds four patents and has seven additional international patents filed, with plans to deliver turnkey iron-air battery systems by 2027.
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