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Economic Times
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Deeptech startup Sthyr Energy raises $1 million from Speciale Invest, Antares Ventures
- Sthyr Energy, a deeptech startup, raised $1 million in seed funding from Speciale Invest and Antares Ventures.
- Founded by researchers from IIT Madras, the startup is developing Zinc-Air battery systems for energy storage.
- The batteries use water-based electrolytes for safety and have modular deployment capabilities.
- The funding will be utilized for research, pilot projects, and product scaling.
- Potential applications include grid operators, renewable energy farms, microgrids, and defense sectors.
- Sthyr aims to provide a competitive cost-effective alternative to lithium-ion batteries for long-duration storage.
- Globally, various technologies are being explored for energy storage, with a limited direct competition in Zinc batteries in India.
- The need for long-duration energy storage is high in countries with increased renewable energy penetration.
- Sthyr's technology could support the acceleration of renewable energy adoption in India.
- Speciale Invest highlighted Sthyr's team for their technical excellence and mission-driven approach.
- The funding will aid Sthyr Energy in furthering research and development, as well as in piloting and scaling up its product.
- Grid operators, asset management companies, microgrids, and defense sectors are potential users of Sthyr's Zinc-Air battery systems.
- Sthyr's batteries are expected to offer a competitive levelized cost of energy for long-duration storage.
- The company's architecture enables modular deployments at different scales, enhancing its versatility and applicability.
- Sthyr Energy's technology could play a vital role in tackling the bottleneck in clean energy adoption, as per Speciale Invest's managing partner.
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