Revterra Corporation, a Houston-based technology company developing a grid-stabilizing kinetic battery, raised $6M in Series A financing.
The round was led by Equinor Ventures and joined by SCF Ventures.
The company intends to use the funds for product development, hiring, and the commercialization of its S100 kinetic battery.
Led by Ben Jawdat, CEO, Revterra is advancing a kinetic battery system that allows for the efficient storage and flexible delivery of electricity within an environmentally friendly package. Its grid-stabilizing kinetic battery leverages passively stable magnetic bearing technology, realizing the benefits of existing flywheel energy storage technologies while significantly amplifying performance.
The company aims to rapidly expand its team over the next 12 months, hiring top-tier electrical, mechanical, and manufacturing engineering talent. Team expansion and the construction of its first assembly facility in Houston, TXwill allow Revterra to deliver its first full-size, commercial-ready energy storage units in 2023.
FinSMEs
19/07/2022