New player enters the intense battery tech race
A new firm helmed by energy tech and finance veterans, called Volta Energy Technologies, says it's joining the race to develop the next wave of batteries. The company announced today it's got an innovative new model for vetting and funding promising breakthroughs in battery and other storage.
Why it matters: Improvements in battery technology are key to the growing commercialization of electric vehicles, as well as power applications that can help bring large amounts of renewable power into the grid and into homes.
- This makes batteries a key tool in the battle against global warming, because they can help decarbonize both transportation and electricity systems.