Torus and Alsym secure $145m in funding for non-lithium energy storage technologies

1. Alsym raises $78 million in venture capital funding from Tata Sons and General Catalyst for its mystery non-lithium battery technology

2. Torus to scale up flywheel tech and software offering for residential and commercial energy storage systems and virtual power plant solutions

3. Torus adds talent to team and board members Brent Hill and David Bywater to deepen energy solutions portfolio in commercial and utility sectors

Massachusetts-based Alsym has secured $78 million in venture capital funding from Tata Sons, General Catalyst, Thrive Capital, Thomvest, and Drads Capital. The company has not disclosed the battery chemistry it uses but describes it as a low-cost, high-performance rechargeable battery that does not contain lithium or cobalt. The funding will be used to expand the Boston-based team and increase production to meet growing customer demand for samples.

On the other hand, Torus, a company that deploys energy storage systems using flywheel technology and offers virtual power plant solutions, raised funds to scale up its offerings in the commercial and utility sectors. The company’s flywheel-based technology is said to be 95% recyclable, unaffected by temperature changes, and has a service life of 25 years. It plans to use the new funds to expand its energy solutions portfolio and add talent to its team.

The addition of Brent Hill, MD of Origin Ventures, and David Bywater, former CEO of Vivint Smart Home and Vivint Solar, to the Torus board is part of the company’s strategy to strengthen its leadership team. Alsym and Torus are both focused on advancing innovative energy solutions and technologies in the growing battery industry.

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