Offgrid Energy Labs Secures $15 Million for Innovation in Energy Storage

Noida-based battery startup Offgrid Energy Labs has successfully obtained $15 million in funding in a round led by Archean Chemical Industries, along with contributions from Ankur Capital. The company had previously raised $12 million in earlier funding rounds and is currently operational in both India and Europe. The funds will be allocated to establish a pilot manufacturing facility in the UK within the next year. This initiative will be supplemented by expansion in research and development as well as the commercialisation of its zinc-gel batteries. Following the launch of the UK facility, Offgrid Energy Labs plans to create a similar site in India.

Innovative Technology for Energy Storage

Founded in 2018 by Tejas Kusurkar, Rishi Srivastava, Ankur Agarwal, and Brindan Tulachan, Offgrid Energy Labs is focused on the development of zinc-bromine gel batteries. These batteries are aimed at being a safer and greener alternative to lithium-ion batteries used in stationary energy storage. The technology is intended for long-duration storage, lasting between 6 to 12 hours, where lithium-ion and other battery chemistries face challenges.

Applications and Future Deployments

The startup is determined to deploy its innovative batteries in various industrial net-zero projects, manage peak demand, and address energy needs in off-grid areas, including rural communities and islands. Additionally, Offgrid Energy Labs has developed over 25 intellectual property assets, with its proprietary electrolyte being central to its innovative approach.

Market Potential and Energy Storage Growth in India

Market research indicates that India is striving to achieve 500 GW of renewable energy capacity by 2030. This ambition creates significant opportunities for energy storage solutions. As of August, India has approximately 500 MWh of installed battery storage capacity, as reported by the India Energy Storage Alliance.