What the business is
Zinc-ion batteries for renewable energy storage and grid load shifting, not for EVs or smartphones
The bet
Zinc-ion batteries can serve 2 to 10 hour storage cheaper and safer than lithium-ion, using zinc abundant in Europe
Starting capital
Just under EUR 15 million, of which over EUR 8 million came from the Swedish Energy Agency for the EPIC factory
How it started
In 2018 Dr. Mylad Chamoun made a breakthrough in zinc-ion chemistry during his PhD at Stockholm University, then teamed up with former classmate Dr. Samer Nameer to found Enerpoly. They saw a gap in the market for 2 to 10 hour storage where lithium-ion was not competitive.
What happened
Enerpoly says it reworked anode, cathode, electrolyte and separator design to fix zinc-ion's dendrite and capacity-loss problems, using a zinc anode, manganese dioxide cathode and water-based electrolyte. In July 2024 it bought dry-electrode equipment from bankrupt startup Nilar. The company said it planned to close a Series A in 2024.
How it ended up
On 2 September 2024 it opened the Enerpoly Production Innovation Center (EPIC) north of Stockholm, billed as the first zinc-ion megafactory. Commissioning had begun, first batteries were expected the following year and capacity was planned to reach 100MWh by 2026, with a gigafactory beyond that.
What has to be true
Lithium-ion is not competitive for 2 to 10 hour storage, which Enerpoly saw as a market gap
Zinc is globally abundant, and Sweden holds about 2% of the world's zinc reserves, supporting a European supply chain
Public money from the Swedish Energy Agency covered over half the capital raised
Buying equipment from bankrupt Nilar gave it dry-electrode manufacturing capability for the new plant
What can be applied
A chemistry that is cheaper only matters if it works in a niche the incumbent cannot serve; Enerpoly chose the 2 to 10 hour slot rather than fighting lithium-ion on EVs.
Aftermath
As of 2024-09-02, EPIC was being commissioned north of Stockholm, with first batteries expected in 2025 and 100MWh capacity targeted for 2026; the company said it would close a Series A in 2024.
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