Thalwil ZH – Unbound Potential has received 3 million euros in funding in the second phase of a competition organized by the German Federal Agency for Leap Innovations. The spin-off from the Swiss Federal Institute of Technology in Zurich intends to expand its membrane-free battery technology.
Four young companies have qualified for the final second stage of the SPRIND Challenge Long-Duration Energy Storage innovation competition organized by the German Federal Agency for Leap Innovations SPRIND . One of them is Unbound Potential from Thalwil. The spin-off from the Swiss Federal Institute of Technology in Zurich will thus receive a further 3 million euros in funding over the next 18 months to further develop its membrane-free battery technology, explains Unbound Potential in a press release on startupticker.ch. In the first stage, the start-up received 1 million euros in funding.
Unbound Potential has already found its first commercial customer for its 0.5 megawatt-hour membrane-free redox flow battery. The start-up intends to use the funding from Germany to expand its production capacities and for further pilot systems to validate the technology.
"Through the competition, we can help promising technologies achieve a breakthrough for which there is not yet sufficient private venture capital," Jano Costard, Challenge Officer at the Federal Agency for Leap Innovations SPRIND, is quoted as saying in the press release. "By linking further funding in the second phase of the SPRIND Challenge to interim results, we are creating competition among the teams and ensuring that investments are made in the most promising technologies and teams." ce/hs
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