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VFlowTech secures extended Series A funding from PSA unboXed

Singapore-based vanadium redox flow batteries storage solution provider, VFlowTech has secured extended Series A funding from PSA unboXed – the corporate venture capital and innovation arm of PSA International (PSA).

VFlowTech will use the latest investments to continue its growth in Asia Pacific's energy storage market and to foray into hybrid long-duration energy storage solutions.

"Net-zero is a complex challenge that requires multi-party collaboration. An adequate infrastructure to support the commercialisation of several alternative clean energy technologies desperately needed," said Dr Avishek Kumar, Co-Founder of VFlowTech.

"This partnership signifies a shared commitment to advancing sustainable energy solutions and will help open up new avenues for innovation and collaboration in the energy storage ecosystem."

With PSA UnboXed investments, PSA joins existing investors like Real Tech Holdings, SEEDS Capital, Wavemaker Partners, Sing Fuels, İnci Holding, Pappas Capital, Carbon Zero Venture Capital and other investors.

"With this investment, PSA unboXed looks forward to leveraging VFlowTech's deep expertise and resources in long duration energy storage solutions as we grow our capabilities in Battery Energy Storage System and Smart Grid Management System in the port area," said Alvin Foo, Head of unboXed, Technology and Sustainability Solutions, PSA.

"VFlowTech's commitment to pioneering advancements in energy storage technology is an excellent fit with PSA's sustainability strategy, decarbonization journey and net zero ambition in the long-term."

VFlowTech also aims to use PSA unboXed's investment to expand its manufacturing capacity and increase R&D activities. In addition to its current manufacturing facility in Singapore, VFlowTech is also expanding its manufacturing capabilities in India.

VFlowTech has stated it has immediate plans to use the funds for R&D purposes and adding manpower, allowing its team to produce perfluorinated polymeric ion exchange membranes in-house.

"While their overarching goal is always to improve performance, moving their capabilities in-house will result in lower production costs, thus lowering the overall costs of their PowerCube batteries for industries worldwide," the company stated. 


US DoE selects three projects to receive $15 million to showcase LDES technologies -  

The U.S. Department of Energy's (DoE) Office of Electricity (OE) on Wednesday announced the three demonstration projects that have been selected to receive 15 million to showcase the new Long Duration Energy Storage (LDES) technologies.
Author : Shraddha Kakade
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