Pentalys Energy has closed an investment round with Piney Point joining as a strategic investor. The investment will help Pentalys accelerate the development of its lithium-sulfur (Li-S) battery technology, which offers significantly higher gravimetric energy density than today's lithium-ion batteries while making use of globally abundant sulfur. The technology is therefore positioned target applications where weight is critical, and where current batteries fall short.
With Piney Point on board, Pentalys strengthens its position at an important stage and gains the capital to move its technology faster toward commercialization. As part of the investment, Jeff Kallio joins the Board of Directors. Jeff’s experience in capital formation, legal structuring, and scaling early-stage companies, along with his history supporting similar research-driven ventures, will provide important support in guiding Pentalys’s growth, scaling, and path to commercialization.
"Piney Point understands what it means to take deep-tech solutions from the lab to the market, and their commercial understanding complements our technical understanding. Their backing lets us speed up both the technical and commercial validation at the current stage, while they also understand what it means to be in it for the long run" says Sigmund S. Kielland, interim CEO at Pentalys Energy.
"As the world transitions to more efficient energy storage, the need for lighter-weight, lower-cost battery solutions continues to grow. Pentalys’s lithium-sulfur technology has the potential to meet that need by enabling batteries built from more abundant, accessible materials. We are excited to support the company as it works to commercialize this novel approach and bring meaningful performance and cost advantages to a broad range of applications" says Jeff Kallio, Managing Director at Piney Point.
About Pentalys Energy
Pentalys Energy is a Norwegian battery company that develops and delivers next-generation lithium-sulfur battery technology. The company combines high energy density with a cost-effective and scalable materials platform, to make impossible electrification possible.
About Piney Point
Piney Point is an innovative investment firm focused on providing transformational growth capital to companies and projects across North America and Europe. Piney’s value-add approach targets growth investments across the Energy Transition, Agriculture and Transportation sectors, where we believe strong tailwinds are driving demand for new infrastructure, technology and projects for decades to come. Piney Point portfolio companies have become leaders in the hydrogen, carbon capture, chemical recycling & battery storage markets alongside key strategic partners.
Contact
Sigmund S. Kielland
Pentalys Energy
sigmund@pentalys-energy.com, +47 902 70 760