Alternō, a startup specializing in sand-based battery technology, has successfully secured over $1.5 million in funding. Prominent impact and venture capital funds, including The Radical Fund from Singapore and Touchstone Partners from Vietnam, led the investment round. Other notable participants include Antler, Impact Square, and Glocalink, as well as grants from international organizations.
This significant funding marks a milestone for Alternō, as it surpasses its initial seed funding target. The company’s innovative thermal energy storage solution, powered by sand battery technology, is tailored for agricultural applications.
This patented technology offers a sustainable alternative for drying, warming, or heating needs in agriculture.
Ecovi Farm, one of Alternō’s early adopters located in Khánh Hoà, Vietnam, has already reaped the benefits of this technology. By utilizing solar panels in conjunction with sand batteries for thermal energy storage, Ecovi Farm has achieved carbon-neutral drying processes while significantly reducing electricity costs.
Na Nguyen, the founder of Ecovi Farm, estimates monthly savings of $300 to $350, resulting in substantial annual savings against an initial investment of less than $20,000 for the sand battery system.
The deployment of Alternō’s sand battery system is not limited to Vietnam. Thuan Do, CEO of DoTea, plans to implement this technology in the highlands of Vietnam to wilt and dry tea. This move underscores the growing demand for clean energy solutions in agriculture, particularly in regions where traditional methods contribute to environmental degradation.
The significance of Alternō’s technology extends beyond its immediate applications. Alina Truhina, CEO and Managing Partner of The Radical Fund expressed excitement about Alternō’s potential to transform the application of thermal energy across Southeast Asia and beyond. She highlighted the company’s role in decarbonizing the agricultural sector, which contributes significantly to the region’s GDP and greenhouse gas emissions.
“With the increasing demand for thermal energy in agriculture and the looming challenges posed by climate change, Alternō’s innovative approach offers a beacon of hope. As the company continues to develop industrial versions of its sand battery systems, it aims to meet the growing energy needs of farms and agricultural enterprises worldwide,” Alina stated.
The support from international foundations and notable organizations further underscores Alternō’s commitment to sustainable energy solutions. With its pioneering status in thermal battery technology, Alternō is poised to make a lasting impact on global agricultural practices, reducing carbon emissions and enhancing competitiveness in the international market.
Hai Ho, co-founder & chief commercial of Alternō, emphasized the importance of finding clean, sustainable energy sources to reduce carbon emissions in agriculture.
“With the upcoming carbon tax (CBAM) by the European Union on imported products, our vision not only contributes to reducing carbon emissions in agriculture but also enhances the competitiveness of Vietnamese companies on the international market with products meeting global green standards,” Hai affirmed.