In today’s edition of the TechAcute Profiles, we want to talk about the clean energy transition with a focus on batteries and other energy storage solutions. For this purpose, we talked with Eloisa de Castro, CEO of Enerpoly, who was kind enough to share her experience, thoughts, and future outlook.
TechAcute Profile: Eloisa de Castro
About yourself
Before becoming CEO of Enerpoly, I was privileged enough to work across several relevant sectors after graduating from MIT with a Bachelor of Science in Mechanical Engineering. The GPS on your phone likely owes thanks to my first mentor out of university, an engineer who helped create the technology. Working alongside them, I could see firsthand how new technology development can affect the lives of billions worldwide. It had me hoping that I could also make a significant impact on a global scale with my engineering skills.
Early in my career, I designed power systems for aerospace that used PV (photovoltaic) and battery energy storage. These ideas also applied to the energy industry, and I saw remarkable opportunities there. At INSEAD, a European business school, I joined a melting pot of future leaders who opened my eyes to the true meaning of diversity and inclusion globally. I also gained industry knowledge of the energy and power markets as Director of Market Operations at a private equity company that invested in grid infrastructure modernization. These experiences ignited my passion for integrating advanced technology with sustainable business models.
When COVID-19 hit, I had a new door open – the opportunity to pivot to work at Enerpoly. Joining Enerpoly felt like coming home – a chance to innovate in the industry that first sparked my passion for creating technologies that empower. I believe that technical excellence and social responsibility go hand in hand, which is the trajectory Enerpoly is moving towards. We directly facilitate the clean energy transition through our breakthroughs in zinc-ion batteries and energy storage.
About your company
Enerpoly has developed the technology needed to make widespread renewable energy possible. Humans use energy daily, but renewable energy cannot be continuously generated. Therefore, if we want our energy to come from renewables, we must first capture renewable energy when it’s made and then store it for later use. And we need to use energy storage in an equally affordable way to, or more affordable than, the energy we use today. A significant obstacle to making energy storage affordable is potential raw material shortages.
https://twitter.com/EnerpolyAB/status/1463086420701110272
Additionally, the industry now fears that battery demand may well outstrip supply. Enerpoly uses patented technology to develop zinc-ion batteries with abundant and affordable materials, thus solving both the affordability and supply chain challenges and providing a crucial step towards a world powered by renewable energy. As a Swedish company, innovation is at the core of what Enerpoly does. Enerpoly utilizes proprietary battery chemistry from the research of our Co-founder and CTO, Dr. Mylad Chamoun, during his PhD at Stockholm University and work at Princeton University.
Additionally, our Co-founder and CSO, Dr. Samer Nameer’s experiences and research at Stanford University and the KTH Royal Institute of Technology motivate our sustainability vision. With Enerpoly’s zinc-ion batteries, we are focused on supplying energy for two- to ten-hour durations, making the technology perfect for use in various large-scale stationary applications that support deployments of renewables. We’re excited to continue to develop further uses for this technology.
What problem in the world are you trying to solve?
The rapidly expanding energy storage market is worth between $44B and $55B, but it faces significant economic and supply challenges that will likely persist as the industry grows. Many batteries are made with scarce and price-volatile materials, leading to difficulties in scaling production and higher costs as companies scramble to meet growing demand.
As well as having high carbon impact production processes, batteries made of materials like lithium are largely non-recyclable today and have safety issues, presenting a substantial challenge in the renewable battery industry. As the world transitions to renewable energy, Enerpoly aims to make clean energy a viable alternative to fossil fuels by providing environmentally friendly, cost-effective, and safe solutions, embodying the core tenets of our battery technology.
How are you trying to solve this problem?
Technology is vital in helping Enerpoly achieve our goals, with our battery technology and manufacturing processes prioritizing safety and sustainability. Enerpoly harnesses widely available and renewable raw materials, such as zinc and manganese, which help reduce the broader cost of battery production. Zinc is a globally abundant material and can be mined responsibly in Europe, making it more resilient to supply chain disruption. This ensures low, stable material costs, with Enerpoly’s batteries estimated to have lower upfront costs and cost 35% less over their lifetime than typical energy storage solutions.
Additionally, the water-based nature of our processes and components makes them non-flammable, non-toxic, and non-explosive. The conscious decision to utilize these materials also results in fewer safety risks in manufacturing, reducing energy used in production. This plays a significant role in lowering our carbon impact by up to 80% in comparison to conventional batteries. Another aspect is that our batteries have been engineered to be fully recyclable at end-of-life, contributing to additionally minimizing their carbon impact. By leveraging our innovative technology, we aim to facilitate clean energy and provide more affordable and safer solutions, ultimately contributing to a more sustainable energy landscape.
How does technology support you to achieve this goal?
Enerpoly’s core technology is the zinc-ion battery, which builds upon the existing primary zinc-manganese dioxide chemistry. We utilized the integral properties of this chemistry and transformed them into a rechargeable solution that remains simple, cost-effective, and reliable by solving several challenges inherent to this chemistry. Our batteries use zinc as the anode, manganese dioxide as the cathode, and a water-based electrolyte. The zinc ion plays a vital role in allowing for repeated charge and discharge cycles.
On the manufacturing side, we have adapted our production to the same optimized and scaled production processes used for lithium-ion manufacturing. Over the last few years, we have seen incredible cost decreases in chemistry due to manufacturing improvements. Today, it’s tough for new battery technology to make it from lab to market if it doesn’t fit into this type of production. The materials used, the battery product, and the manufacturing process enable us to produce batteries that are safe, affordable, sustainable, and capable of reusability for an efficient energy storage solution.
How does the technology work?
Enerpoly’s core technology is the zinc-ion battery, which builds upon the existing primary zinc-manganese dioxide chemistry. We utilized the integral properties of this chemistry and transformed them into a rechargeable solution that remains simple, cost-effective, and reliable by solving several challenges inherent to this chemistry. Our batteries use zinc as the anode, manganese dioxide as the cathode, and a water-based electrolyte. The zinc ion plays a vital role in allowing for repeated charge and discharge cycles.
On the manufacturing side, we have adapted our production to the same optimized and scaled production processes used for lithium-ion manufacturing. Over the last few years, we have seen incredible cost decreases in chemistry due to manufacturing improvements. Today, it’s tough for new battery technology to make it from lab to market if it doesn’t fit into this type of production. The materials used, the battery product, and the manufacturing process enable us to produce batteries that are safe, affordable, sustainable, and capable of reusability for an efficient energy storage solution.
What are the milestones in your journey so far?
Enerpoly has achieved several significant milestones in our journey. The most notable achievement has been the successful development of our patented zinc-ion battery technology, capable of up to 2000 charge cycles. This development represents a significant advancement in the field compared to traditional zinc-ion batteries, which typically manage about 50 cycles.
https://twitter.com/EnerpolyAB/status/1385165827520045058
This is an issue battery scientists have been struggling with for the past 60 years, so it’s a considerable achievement. As mentioned above, adapting our manufacturing to today’s industrial production methods has been another crucial step. We have proven this in our industrial lab in Stockholm through the funding we obtained from the European Commission in 2020. Our growth is evident as we expand our team to meet the increasing demand for innovative solutions.
How do you plan to grow and scale in the next five years?
How do you think your market will develop in the near and far future?
What challenges might need to be addressed in your company very soon?
How do you plan to overcome these challenges?
What does your business model work like?
Finances
Enerpoly has raised €5M to fund development, and we are currently anticipating further investment to support our next steps. We raised an initial €1.9M in equity financing from pre-seed and seed rounds in 2021 and 2022, respectively. For the remaining, Enerpoly has been awarded multiple competitive grants from prestigious European institutions like the EU’s Horizon 2020 program and the Swedish Energy Agency.
These grants enabled Enerpoly to develop early commercial cell prototypes and conduct critical testing with partners like battery integrator Polarium. Additional grant funding from the Eurostars Program alongside EET has supported Enerpoly’s work on integrating zinc-ion batteries into renewable energy systems for European households – an essential application for this technology.
We're happy to announce we closed our pre-seed round of €410,000!
Our 2 angel investors will propel us forward with their experience building and managing global manufacturing companies. Sting also participating in this round. https://t.co/pZ9sSHjvNP pic.twitter.com/AqkLI31tGr
— Enerpoly (@EnerpolyAB) September 14, 2021
Most recently, we have been working on securing investment and grants that will be used to rapidly scale up manufacturing capacity to megawatt-hour (MWh) annual production. This funding will allow the company to optimize its production processes, research and development, and material sourcing to reduce costs and improve the performance and efficiency of our zinc-ion batteries. This financing will crucially enable Enerpoly to bring affordable zinc-ion batteries to market.
If you could give your younger self a word of advice, what would you recommend to yourself?
I would advise my younger self to keep her finger on the pulse of global developments. The timing of an innovation has a tremendous effect on its level of impact, so working on the right things at the right time will pave the path to success.
What would you suggest to someone who has yet to start their career in your industry?
Many skill sets can find a home in the battery industry. I would advise those wishing to enter the industry to learn about how the battery industry works and then focus on honing their skills to a level of excellence. Any industry involving building infrastructure requires collaboration across many disciplines, so they should also learn how to collaborate and communicate effectively with others whose knowledge and experiences differ drastically from their own.
Thank you, Eloisa, for your contribution to TechAcute Profiles. It was exciting to hear about your challenges and approach to overcoming the hurdles in your journey.
Photo credit: The photo in the feature image has been provided by Eloisa de Castro with permission to be used by TechAcute. The product photo in the body of the article is owned by Enerpoly and was made available as part of a press kit.
Editorial notice: The contents from the submitter for the TechAcute profile were minimally edited for style and grammar.
