Qnetic, a developer of long-duration flywheel energy storage systems, has raised $5 million in new funding to support U.S. manufacturing and accelerate deployment of its technology for utilities and commercial customers.
The company said the new capital will equip its California manufacturing facility for low-volume production of the Q500 flywheel energy storage system and support pilot deployments with utilities and commercial partners in the U.S. and internationally. The funding will also support expanded testing and validation work with research partners, including the Electric Power Research Institute and the National Lab of the Rockies, over the next 18 to 24 months.
Combined with a $2.1 million equity crowdfunding campaign completed last year, the latest financing brings Qnetic’s total capital raised over the past 12 months to $7.1 million. The company noted that investors in the earlier RegCF offering have already seen roughly 25% asset appreciation after conversion to equity.
Qnetic’s technology uses mechanical flywheel systems to store energy as rotational kinetic energy rather than relying on electrochemical batteries. The company positions its solution as an alternative to lithium-ion batteries for long-duration energy storage applications.
According to the company, its solid-state mechanical batteries are designed to deliver long operating lifetimes and high durability across demanding environments. Qnetic says the systems can operate for up to 30 years without degradation, support unlimited daily charge-discharge cycling, perform in extreme temperatures ranging from desert heat to arctic cold, and eliminate the risk of thermal runaway associated with conventional batteries. The company also claims the technology can deliver energy storage at roughly half the levelized cost of lithium-ion systems.
The company is working with research institutions to formally evaluate the technology across multiple use cases as utilities and grid operators face increasing pressure to integrate renewable energy while maintaining grid reliability.
Qnetic develops grid-scale energy storage systems designed to support renewable energy integration and grid resilience while reducing long-term operational costs. The company’s flywheel systems are designed for durability, scalability, and safety, offering a mechanical alternative to conventional battery storage technologies.
KEY QUOTE:
“We are very pleased to receive this significant amount of new funding, following an enthusiastic response to our earlier public offering. It’s clear that the market is ready for a truly innovative energy storage solution, one that’s made in the U.S. of metals, magnets and carbon fiber, with no mineral or supply chain bottlenecks. We look forward to ramping up development and production and fielding our first systems this year.”
Michael Pratt, Co-Founder And Chief Executive Officer Of Qnetic
