TaiSan has raised a £4.65m seed round to accelerate its technology that could unlock the use of sodium-ion batteries for mass market applications such as electric bikes, scooters, vehicles and power tools.
With concerns about the cost and scarcity of lithium used in conventional batteries, sodium – one of the most abundant elements on Earth – offers an alternative. However, until now, sodium-ion batteries have been large and heavy, limiting their use mainly to stationary energy storage.
TaiSan’s technology delivers batteries that are lighter and more compact than existing sodium-ion and lithium-ion alternatives, making them suitable for a much broader range of applications. Designed for long service life, the batteries use TaiSan’s proprietary solid-state electrolyte, which the firm says is safer than conventional flammable liquid electrolytes.
The round was co-led by Eos Advisory and the Midlands Engine Investment Fund II through fund manager Mercia Ventures, with participation from AFI Ventures, EverQuest Capital Partners, Adeline Arts & Science, Techmind, angel investor François Badelon, and existing investors InnoEnergy, TSP Ventures, Exergon and Heartfelt.
Of the total raised, £700k came from Innovate UK, which provided grant funding through its Investor Partnerships Programme to match fund part of the private investment.
The funding will enable TaiSan to advance its technology and begin pilot tests with manufacturers. The firm also plans to expand its existing Cambridge laboratory and establish operations in Coventry.
