Revterra, a Houston-based technology company developing a grid-stabilising kinetic battery, has announced a $6m series A financing round.

Texas firm Revterra’s kinetic battery is a drop-in to enable rapid DC fast EV charging anywhere while providing grid stability in regions with high renewable power penetration.

The capital raised will fund product development, hiring and the commercialisation of the S100 kinetic battery to accelerate the rapid electrification of transportation and enable increased renewable energy deployment without destabilising the electric grid.

As renewable power generation proliferates and energy demand is electrified, energy storage technologies are needed to match supply with demand to ensure smooth grid operations. Most existing energy storage technologies provide only a partial answer, relying on rare or toxic chemicals with limited ability to be recycled or repurposed.

Revterra’s system allows for the efficient storage and flexible delivery of electricity within an environmentally friendly package. The grid-stabilising kinetic battery leverages its passively stable magnetic bearing technology, realising the benefits of existing flywheel energy storage technologies while amplifying performance.

“There is an urgent need to reduce carbon emissions globally,” said Ben Jawdat, CEO of Revterra. “Our goal at Revterra is to deploy scalable energy storage that facilitates the shift to renewables and EVs while hardening our electric grid. Our systems enable these ambitions while utilising materials that are recyclable and based on a secure supply chain.”

Revterra’s beachhead market will be rapid DC fast EV charging. Using its S100 system, charge point operators can unlock DC fast-charging locations that would have otherwise been uneconomical. Site owners can forego the need for extensive infrastructure upgrades and long installation wait times, all while providing drivers the fast charging that they demand. Revterra offers its users an eight times longer equipment lifetime, four times higher power output, and a lower environmental impact than traditional chemical batteries.

The round was led by Equinor Ventures and joined by SCF Ventures.

“Energy storage plays an important role in enabling the decarbonisation of transportation and the buildout of renewables while ensuring power market stability,” said Gareth Burns, head of Equinor Ventures. “We look forward to collaborating together with Revterra.”

Hossam Elbadawy, managing director of SCF Ventures, added: “Revterra’s differentiated energy storage systems will be key to enabling fast charging capabilities for EVs and improving the resiliency of the power grid. A successful energy transition needs effective energy storage, and innovative technologies like Revterra’s flywheel will provide an important part of the answer. SCF looks forward to working with the Revterra team to scale this.”

Previously, Revterra raised nearly $500,000 through a combination of angel investments and a Phase I National Science Foundation STTR grant. The company has worked with ecosystem partners including NextEra, Florida Power & Light’s 35 Mules innovation hub, the Black & Veatch IgniteX programme, and Greentown Labs. Revterra’s current team brings together academic and business talent from the University of Houston, Rice University and Piper Sandler.

The company aims to expand its team rapidly over the next 12 months, hiring top-tier electrical, mechanical and manufacturing engineers. Team expansion and the construction of its first assembly facility in Houston should allow Revterra to deliver its first full-size, commercial-ready energy storage units in 2023. The company aims to deploy larger, grid-scale products over time to support a secure, reliable and clean electric grid.

The first product will be a modular 400kW, 100kWh base unit, with the option for expanding installations by adding additional modules. This should help enable a future where EV drivers can recharge their cars in 15 minutes or less anywhere, without the need for an overhaul of the existing electric grid.