Bill Gates' backed Ambri raises US $144 million to commercialise its patent technology

American energy storage company, Ambri, said it has secured a US $144 million to commercialise and grow its daily cycling, long-duration system technology.

These funds were raised through Indian oil-to-telecoms conglomerate Reliance Industries, along with billionaire Bill Gates, investment management firm Paulson & Co and others.

Ambri said these funds will help the company design and supply long-duration battery systems to meet the growing demand from the grid-scale energy storage market and large industrial energy customers, such as data centers. 

“This financing supports the commercial growth of our company and technology,” said Dan Leff, Ambri Executive Chairman. 

Ambri’s long-duration systems are patented technology that have been designed to break through the cost, longevity and safety barriers associated with lithium-ion batteries.

Ambri also said that Reliance is also in discussion to form a joint venture to make and distribute Ambri’s batteries as part of the transaction.