Enerpoly is a company that produces cost-effective and clean zinc-ion batteries for scalable stationary energy storage solutions. Pulse 2.0 interviewed Enerpoly co-founder and CTO Mylad Chamoun to learn more about the company.
Mylad Chamoun’s Background
Before founding Enerpoly, Chamoun started researching batteries during his Master’s studies in 2012 at the KTH Royal Institute of Technology. Chamoun said:
“Following this, I expanded my knowledge in this industry while working at Brookhaven National Laboratory and Princeton University in the US. I then successfully completed my PhD in Inorganic Chemistry at Stockholm University in 2019, and worked as a Battery Expert Consultant at Etteplan. In this role, I focused on energy storage system sales, distribution, and certifications for clients in the Nordics. Over the years, I have gained extensive experience in battery technologies and conducted comprehensive research in battery chemistries. This journey ultimately led to my co-founding Enerpoly, a zinc-ion battery manufacturer, and my position as Chief Technology Officer (CTO).”
Formation Of Enerpoly
How did the idea for the company come together? Chamoun shared:
“When we founded Enerpoly, we recognised the immense potential for innovative battery chemistries like the zinc-ion chemistry to transform the energy landscape. We also knew that to truly have impact, we had to build a company grounded in purpose and sustainability values from day one.”
“Enerpoly’s foundation is based on research conducted by myself during my studies, and my co-founder and CSO Samer Nameer, who conducted research at Stanford University and completed his PhD at KTH Royal Institute of Technology. My background in chemical engineering and inorganic chemistry, complemented by Samer’s expertise in sustainability, has been the driving force behind developing Enerpoly’s proprietary chemistry.”
“With the addition of CEO Eloisa de Castro, who has previously designed space systems used by NASA and the U.S. Missile Defense Agency, and has ample experience in the energy sector, Enerpoly has grown to be the company it is today. We have also remained unwavering in our commitment to our founding purpose: delivering innovative and sustainable solutions that make a lasting and impactful positive change.”
Favorite Memory
What has been your favorite memory working for the company so far? Chamoun reflected:
“When recalling my favorite moments at Enerpoly, certain instances stand out. For example, celebrating milestones in our product development, like the first zinc-ion battery prototype that we built, brought a sense of accomplishment. It was also equally rewarding to hear directly from customers about the tangible impact that our zinc-ion technology could have on their businesses.”
“Experiencing these moments alongside a continuously expanding team, all unified by the foundation of the company culture we set, is truly gratifying. Every time our technology reaches new breakthroughs and is recognized for its transformative potential in energy storage and clean energy, I greatly look forward to the future impact we can bring to the industry.”
Core Products
What are the company’s core products and features? Chamoun explained:
“Enerpoly’s core product is our patented zinc-ion battery technology. Our batteries have been developed with a focus on sustainability, affordability and safety, using zinc and manganese as raw materials, to create effective energy storage solutions that are suited for 2-10 hour durations.”
“Every aspect of our technology is intentional. We deliberately designed the chemistry and manufacturing processes to be water-based to ensure that our zinc-ion batteries are safe, making them non-flammable, non-toxic, and non-explosive. These choices further help with reducing the energy consumption in production, which plays a vital role in lowering our carbon impact by up to 80% in comparison to lithium-ion batteries.”
“Additionally, as part of our commitment to sustainability, we have engineered our batteries to be fully recyclable at end-of-life, and easily integrated into recycling infrastructure already existing in society. The availability and reusability of our materials also contribute to the cost-effectiveness of our batteries, estimated to cost 35% less than typical energy storage solutions over the course of their lifetimes.”
Challenges Faced
What challenges has Chamoun faced in his sector of work? Chamoun acknowledged:
“The global energy crisis has been one of the most significant challenges facing the energy storage industry in recent years, intensified by factors such as post-pandemic economic recovery and Russia’s invasion of Ukraine. These developments have led to a tightening of the energy market and a surge in energy prices. As a result, the industry has grappled with material scarcities – demand for lithium is expected to exceed supply by 24% by 2035 – and additionally, a volatility in natural gas prices. This stresses the need for alternative clean energy solutions to mitigate the increased risk posed to energy security and access.”
“The surge in demand for renewable energy storage solutions, spurred by geopolitical tensions and supply chain disruptions, has substantially increased energy storage requirements. In this landscape, Enerpoly’s battery technology has emerged as a sustainable and cost-effective solution that directly addresses global energy demands, especially as we race to achieve net-zero goals.”
“As we navigate the rapidly changing energy landscape, the importance of establishing resilient and adaptable systems cannot be overstated. Enerpoly is poised to be a pivotal part of this transformative journey.”
Evolution Of Enerpoly’s Technology
How has the company’s technology evolved since launching? Chamoun noted:
“Enerpoly’s zinc-ion technology has evolved significantly over the years in design, performance and lifetime. In the early stage, we devoted all our efforts in scrutinising the underlying mechanisms that take place during battery operation. This allowed us to tackle the fundamental challenges, and put thoughtful strategies on the design of a practical battery. We brought the applied research to practice, and managed to build our first prototype that showcased a breakthrough in battery development – a rechargeable zinc-ion battery with a cycle life of more than a thousand times.”
“The amount of energy stored in volume of the first prototype was subpar, and this is what we have improved successfully over the years. We continuously develop our battery to push for higher performance, while evaluating the feasibility of materials used from an availability and cost perspective, and the scalability of the processes. The developed cost-models, battery performance designs and assessment of manufacturing feasibility are ongoing endeavours in our team, and are how we push the boundaries for cost-efficiency.”
Significant Milestones
What have been some of the company’s most significant milestones? Chamoun cited:
“The first major milestone we achieved in the company was the grant we received from the EU’s Horizon 2020 program that supported us in building our first pilot line for the production of our zinc-ion batteries. The grant enabled us to showcase our minimum viable product, grow critical functions within the organisation and gave us the needed head start of early-stage scaling. In conjunction with the grant funding, we hit another important milestone in raising our pre-seed and seed equity rounds to co-finance the projects and the company.”
“Another noteworthy milestone is the complete manufacturing of our first product, the zinc-ion battery cell. We experienced many obstacles in the optimization of the manufacturing. Producing batteries is a complex task since it requires strict control of the process parameters to maintain high quality and high consistency over longer time periods. It is critical for batteries because of how they are made – many batteries contain many layers of components that are required to be as near to identical as possible, as minor deviations affect the end-value of the product. In overcoming these challenges to manufacture our first cell, not only did we demonstrate our technical prowess, but we also showcased our commitment to delivering batteries that meet the highest standards of quality and consistency.”
Customer Success Stories
After asking Chamoun about customer success stories, he highlighted:
“Developing new technologies requires a lengthy development cycle, and we’ve observed that the market is more than ready to support us in this aspect. Potential customers have proactively sought collaboration with us, from an early stage onwards. An example of this would be our grants with energy storage integrators, Polarium and EET. These companies actively contribute valuable insight during the research and development phase, testing our technology and providing valuable feedback. This helps us greatly as we scale our technology, and plays a crucial role in developing products well-suited for the current market.”
Funding
After asking Chamoun about the company’s funding information, he revealed:
“To date, Enerpoly has secured €12.6 million in funding for our development, with expectations for further investment for future expansion. We initially raised €1.9M in equity financing from pre-seed and seed rounds in 2021 and 2022 respectively, and have been awarded multiple competitive grants from prestigious European institutions.”
“These grants include the EU’s Horizon 2020 program, and a grant from the Swedish Energy Agency which have helped us develop early commercial cell prototypes and conduct critical testing with our partners. Additionally, we have received grant funding from the Eurostars Program alongside EET which has helped with the integration of zinc-ion batteries into renewable energy systems for European households.”
“More recently, we have received a grant from Vinnova, Sweden’s innovation agency, which will support the development of zinc-ion battery electrodes to enable large-scale manufacturing of new battery technology and an additional grant from the Swedish Energy Agency that will be used to build the world’s first megafactory to manufacture zinc-ion batteries.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Chamoun assessed:
“Enerpoly is targeting a significant portion of the global energy storage market. The market itself is currently valued between $44 billion and $55 billion, and we aim to make a substantial impact within this. By providing environmentally friendly and cost-effective alternatives to traditional batteries, we believe we can serve a meaningful segment of this market. We address critical issues surrounding sustainability and cost-effectiveness in energy storage solutions whilst being applicable in various use-cases such as supporting the grid and providing backup power and commercial standby.”
Differentiation From The Competition
What differentiates the company from its competition? Chamoun affirmed:
“Our differentiation to the competition is our determination to deliver energy storage solutions that matter for end-users. Cost-efficiency, safety and sustainability are the core pillars of what we do, and is deeply rooted in our decision-making to develop, design and deliver products to our customers. We pay close attention to our materials and processes, ensuring suitability for large-scale, and ensuring we design our products by listening to our customers’ needs.”
“Our unique approach with zinc-ion technology stands out by meeting cost targets in energy storage deployments that are not economically feasible today. The zinc-ion battery we design enables a wider adoption of renewable energy where there is a bigger need for safer and greener batteries. This is evident in the discussions with our customers (e.g. Polarium and EET) showing interest in next-generation batteries that are locally produced with a reliable supply chain for sourcing and recycling.”
“We also know that leading with purpose leads to better business in today’s world. Investors and conscious consumers alike want to support responsible companies, with a survey finding that 70% of institutional and professional investors plan to increase their allocations to impact investing solutions in public and private markets over the next three years. At Enerpoly, sustainability is not just an initiative or an afterthought – it is woven into every business decision and process. We evaluate each choice on factors beyond just profit – considering societal and ecological impacts as central concerns.”
“In addition to this, scalability is an integral part of our operations. From initial planning stages to implementation, scalability has always been incorporated within our expansion strategy. For us, rapid growth isn’t the priority – when we grow, we grow sustainably. Whilst Enerpoly’s technology is built to address the global demands of today, our scalable growth approach ensures that we can also address the needs of tomorrow, and the future thereafter.”
Future Company Goals
What are some of the company’s future company goals? Chamoun concluded:
“Our future goals are centered around scaling up production, expanding our market presence, and further enhancing the performance and efficiency of our zinc-ion batteries. We plan for a production expansion where our core product, the zinc-ion battery cell, will play an important role as a building block for future developed systems that can fulfil different application needs. Standardizing our core product will facilitate our focus to target the affordability of energy storage systems and give end-users a higher return on their investment. We also plan to implement initiatives that target reuse and recyclability to reflect our commitment to sustainability, and we are actively pursuing strategic partnerships and collaborations to amplify and extend our reach.”
“Europe in particular is well-positioned to assume a leading role in energy storage solutions, and we want Enerpoly to be at the forefront of this to contribute to a more sustainable and autonomous energy landscape. As the IEA estimates that renewables will provide half of the world’s electricity by 2030, groundbreaking technologies like zinc-ion will be the crucial key to achieve global clean energy goals.”
