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Khosla renews commitment to liquid metal battery business Ambri in $35m Series C

2 May 2014

green energy power electric light lanternKhosla Ventures has re-upped its commitment to liquid metal battery energy storage business Ambri as part of a $35m Series C financing round.

KLP Enterprises, the family office of Karen Pritzker and Michael Vlock, also took part in the round alongside Bill Gates and energy company Total.

The company’s energy storage technology aims to facilitate full integration of variable renewable generation like wind and solar, lower electricity costs by reducing the need for power plants, transmission and distribution infrastructure, and lead to more reliable and resilient electricity systems.

Khosla partner and Ambri board member Andrew Chung said, “Ambri’s solution is highly distinguished from others in the marketplace on cost and performance – thanks to a simple manufacturing process, use of cheap and safe materials, and significantly longer lifetime compared to other approaches we’ve seen.

“Large-scale, cost-effective electricity storage will be a critical part of reinventing our global electric grid infrastructure.

“Khosla Ventures is proud to be a partner with Ambri, and we look forward to participating in the company’s continued success.”

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