Quino Energy, a startup that is developing water-based flow batteries for commercial and grid applications, has raised an additional $1.25 million in seed funding, which is part of its recent Series Seed raise of $3.3 million led by ANRI, a seed and early stage VC firm based in Japan. The new funding round brings the total raised to $4.55 million, which includes a $4.6 million non-dilutive grant from the U.S. Department of Energy. The funding group includes new investors Energy Revolution Ventures and Doral Energy Tech Ventures, while TechEnergy Ventures increased the size of their earlier investment. The new funding will be used to further scale and demonstrate Quino Energy’s in situ, zero-waste battery electrolyte production process, which turns dyestuff chemicals made from coal tar into high-performance, long-lifetime battery reactants. The company’s goal is to bring down the cost of mid-duration (8-40 hour) battery storage.
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