Juice Batteries has a mission to cut Australia’s carbon emissions, with vanadium redox batteries as the silver bullet. Used overseas for large-scale battery storage, the technology has been largely overlooked in its home country, until now.
Capturing homegrown capacity
Australia leads the world with more than 3 million rooftop solar systems. But less than 2% of these domestic systems have home batteries to store the solar electricity they generate. With the threat of climate change growing, Shane Meotti and Mark Reynolds saw an opportunity to adapt vanadium redox batteries for residential customers. So they launched Juice Batteries in July 2021.
Funding surge for R&D
Vanadium redox batteries have many benefits. Unlike their lithium-ion counterparts, they will not lose capacity and efficacy if they’re rapidly charged or discharged. And they can operate in temperatures between -40°C and +60°C without heating or cooling. So they’re more resilient and better suited to conditions in Australia.
But the co-founders found it challenging to source funding for their start-up’s relatively unknown technology. Then they discovered the R&D Tax Incentive and Radium Advances. Within six months of launching, Juice Batteries received a Radium Advance just a few business days after applying.
Juice Batteries Director and Chief Operating Officer Shane Meotti says, “Thanks to Radium Advances, we’ve avoided early dilution, brought forward our R&D on commercial applications by three years, and we’re developing the second generation of our residential battery system.”
Today, Juice Batteries is researching green supply chains using vanadium extracted from industrial by-products and is exploring ways to manufacture in Australia for residential and commercial customers.
Download the case study to discover how Juice Batteries leveraged the strategic benefits of multiple Radium Advances and accelerated its R&D plans by years.
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