Qnetic (Seed)

Company Description: Meeting decarbonization targets necessitates the development of substantial grid-scale storage solutions. The use of lithium-ion (Li-ion) technology, while prevalent, becomes economically challenging for discharge durations extending beyond 4 to 6 hours. In addition, Li-ion technology suffers from degradation and decreasing performance over its usable lifetime, leading to high capital costs for replacement batteries. Addressing this need, Qnetic introduces a pioneering solution designed for discharge durations ranging from 4 to 12 hours, marking a significant innovation in energy storage with the world’s first kinetic energy storage device tailored for such applications. Qnetic’s device boasts the capability to store 2 MWh of energy, delivering a maximum power of 500 kW at a remarkably efficient cost of $150/kWh. Their energy storage systems are also highly durable, dramatically extending the usable lifetime without meaningful degradation. This breakthrough positions Qnetic as a pivotal player in a gap within the energy storage market. By offering a solution that significantly undercuts the lifetime costs associated with Li-ion batteries, Qnetic not only enhances the economic viability of long-duration energy storage but also accelerates the transition towards more sustainable energy systems.
Location: Singapore