Ambri receives $35 million in funding

Posted Apr 30, 2014

Ambri is an MIT startup that used to be known as Liquid Metal Battery. Ambri has raised $35 million in Series C funding led by new investor KLP Enterprises with participation from existing investors Khosla Ventures, Bill Gates, and Total Energy Ventures. Ambri has raised over $50 million in equity funding thus far.

Ambri is developing grid-scale energy storage and opened a prototype manufacturing facility in Marlborough, MA this past fall. Ambri has been awarded contracts to deploy its technology in Massachusetts, Hawaii, New York, and Alaska. Partners include First Wind, Joint Base Cape Cod, Con Edison, Energy Excelerator, and Raytheon.

The technology behind Ambri rolled out of professor Donald Sadoway?s lab at MIT. The MIT team wanted to invent a new kind of battery specifically for grid-scale energy storage using liquid metals. This would lead to cheaper manufacturing because the layers of the liquid metal battery are able to arrange themselves intend of requiring a lot of engineering. Ambri ls led by CEO Phil Giudice. Giudice helped take EnerNOC public and he also worked for the energy sector for the state of Massachusetts.