Energy production is today one of the main culprits of greenhouse gas emissions. To meet the decarbonisation targets, it is necessary to reshape the production, storage, and distribution of electricity. To address this urgent need, Sinergy Flow, a deep tech startup headquartered in Milan develops a sustainable, low-cost, high-efficiency flow battery that can store electricity for more than 20 hours.
Now, Sinergy Flow from the PoliHub community has closed a €1.8 million investment round led by French Italian venture capital firm 360 Capital, which invested through Poli360 fund, in partnership with Politecnico di Milano, and A+360, a fund dedicated to energy transition in collaboration with A2A. The round was also followed by Tech4Planet, the National Technology Transfer Pole for Sustainability established on the initiative of CDP Venture Capital SGR through the Technology Transfer Fund.
Sinergy Flow will use the investment to expand its team and pursue R&D activities, validating the technology in a relevant environment, scaling the device, and preparing for mass production in the coming years.
“The energy transition is one of the most important challenges humankind has ever faced, and we strongly believe that our long-duration, low-cost, sustainable energy storage technology will make it possible,” said Alessandra Accogli, CEO and Founder of Sinergy Flow.
Fausto Boni, General Partner and Founder of 360 Capital commented, “We are very happy to step side by side with Sinergy Flow on this path, as the issues of energy transition and LDES are absolute priorities for 360 Capital. We strongly believe that the startup, thanks to its revolutionary battery and the use of abundant waste materials can be a game-changer in decarbonisation, and we hope that it can also represent an international success story, made in Italy.”
Claudia Pingue, Head of CDP Venture Capital’s Technology Transfer Fund, comments, “The National Technology Transfer Pole for Sustainability, Tech4Planet, was created to support the growth of the most promising technologies born within Italian research centers and bring them to the market. Sinergy Flow is a particularly significant startup in this sense because it operates in the segment of energy storage, which is one of the fundamental building blocks for achieving decarbonisation goals, and it does so with an outstanding team, with a great propensity for business development and internationalisation.”
Enables energy transition
Sinergy Flow was founded by Alessandra Accogli, Gabriele Panzeri, and Matteo Salerno in 2022 in Milan. Currently, the board comprises the three founders and two representatives of the VC funds. The company plans to hire new team members in the next six months.
It develops a redox flow battery based on earth-abundant and low-cost material, fully compliant with the Circular Economy principles. Sinergy Flow’s concept aims to deliver sustainable, high-efficiency flow batteries for power grids, at a lower cost than competitors. It is possible for the company as it has worked out how to use inexpensive and abundant materials, such as sulphur or waste residues from petrochemical plants.