AQUABATTERY wins 'Innovative Energy Solution 2023' award at Vakbeurs Energie, a national fair for the energy sector, on October 10th, 2023.
AQUABATTERY RECEIVES GRANT FROM NATIONAL GROWTH FUND
AQUABATTERY is one of the Dutch battery developers that has been granted financing from the National Growth Fund, announced on June 30th, 2023.
The mission of the National Growth Fund is to invest €20 billion for the period 2021-2025 into project which have the highest potential for structural and durable economic growth in the Netherlands: knowledge development and research, development and innovation.
Renewable energy and storage technology is a key investment area for the Fund. AQUABATTERY is one of the 60 companies and knowledge institutes that is going to receive budget from a total of €800 million under the ‘Material Independence and Circular Batteries’ proposal. The key goal is to lower the Netherlands’ dependency on scarce and critical raw materials.
Moniek Tromp, frontwoman of the proposal coalition, says that the Growth Fund provides “significant opportunities for the Dutch industry [..] With our unique knowledge and competences on material science, high-tech systems and system integration, we can and should play a big role in the energy transition through battery technology and its related materials independence”, the Battery Competence Cluster NL reports.
For AQUABATTERY, the grant will accelerate important product development steps on our product roadmap to the market. On one hand, the budget will provide financing for R&D activities and industrialization (e.g.: electrolyte research, bipolar membrane and stack development). On the other hand, the subsidy will be important in building our 100kW pilot installation, the largest to date.
The successful application is yet another confirmation that the Netherlands' and Europe’s renewable installation targets need sustainable enabling technologies such as circular batteries, according to Jiajun Cen, CEO and co-founder of AQUABATTERY. The Dutch government decision validates the value proposition of AQUABATTERY’s saltwater technology, which relies on abundant, environmentally friendly and locally available materials.