LAB7 Participates in an Investment Round Supporting Halide Energy’s Energy Storage Solutions
LAB7, Aramco’s venture builder arm, has participated in the first close of an investment round in Halide Energy, a Finland-based startup focused on developing solutions that support the adoption of renewable energy sources. The round was led by BSV Ventures.
The partnership aims to support the development of innovative Redox Flow battery technology designed for grid-scale energy storage applications, addressing the growing need for reliable, long-duration energy storage solutions to ensure grid stability and resilience.
As global reliance on intermittent renewable energy sources continues to rise, the demand for robust energy storage solutions has become increasingly critical. Halide Energy seeks to meet this demand through its copper-based Redox Flow battery systems.
These systems leverage abundant and low-cost copper, utilize aqueous electrolyte solutions, and feature simplified manufacturing processes with lower maintenance requirements, enabling a significant reduction in both operational and capital expenditures while supporting scalable energy storage solutions.
