Liquid Metal Battery Corporation, a Cambridge, MA-based early-stage company working to develop and commercialize a new battery technology, has raised an additional $15m in Series B funding.
The round was led by Khosla Ventures, with participation from Series A investors Bill Gates and the energy company Total.
The company intends to use the capital to accelerate its development efforts and to bring its solution to market.
Led by CEO Phil Giudice, Liquid Metal Battery Corporation (LMBC) is commercializing liquid metal battery technology invented at MIT (in the lab of Dr. Donald Sadoway) for grid-scale energy storage. By increasing power supply and power demand, the Liquid Metal Battery is designed to enable widespread use of sustainable energy sources and development of more efficient power systems.
In conjunction with the funding, Andrew Chung, partner at Khosla Ventures, has joined the company’s Board of Directors.
FinSMEs
24/05/2012