BSV Ventures & LAB7 Back Halide Energy in First Closing of an Investment Round to Develop a Long-Duration Energy Storage Solution Supporting the Adoption of Renewable Energy Sources

Halide Energy, a Finnish startup focusing on the development of battery solutions to support renewable energy adoption, has secured the first close of an investment round led by BSV Ventures, with participation from LAB7, the venture building arm of Aramco. This partnership focuses on the development of innovative redox flow battery technology for grid-scale applications, addressing a key challenge in renewable energy adoption.  

The increasing integration of intermittent renewable energy sources demands robust and long-duration energy storage solutions to help ensure grid stability and reliability. Halide Energy aims to provide a solution to this critical global need with its innovative copper redox flow battery systems, enabling long-duration energy storage applications. By leveraging abundant and low-cost copper with aqueous electrolytes, alongside a simplified manufacturing process and lower maintenance needs, Halide Energy can help reduce operating and capital costs. 

Together, LAB7 and Halide Energy aim to develop scalable solutions that support lower-carbon, more reliable energy systems worldwide. Through this collaboration, LAB7 invests in Halide Energy to develop a scalable product for market launch, and help position the start-up for effective growth of its operations. The partnership reflects LAB7’s focus on advancing and supporting transformative technologies for the energy transition.