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Funding · Climate, Energy & Sustainability

Meine Electric raises $750,000 pre-seed for iron-air storage

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Date
Company
Meine Electric
What it does
Iron-air long-duration energy storage systems
Kind
Funding
Amount
$750,000
Stage
pre-seed
Based in
Chennai
Founded
2023
Sector
Climate, Energy & Sustainability

What they do

Meine Electric builds iron-air long-duration energy storage systems, using a reversible rusting process with iron, air, and water

What happened

The startup raised $750,000 in a pre-seed round led by Antler, Rebalance, and Venture Catalysts, with participation from gradCapital and AIC-AU Incubation…

Why it matters

The funding will help move from lab prototypes to pilot-ready systems, targeting containerized iron-air batteries by 2027

The details

  • Meine Electric raised $750,000 (about Rs 6.7 crore) in a pre-seed round.
  • The round was led by Antler, Rebalance, and Venture Catalysts.
  • Participants included gradCapital and AIC-AU Incubation Foundation.
  • Angel investor Alexander Hogeveen Rutter also joined the round.
  • The startup develops iron-air long-duration energy storage systems, the first in the Asia-Pacific region.
  • Its technology uses a reversible rusting process involving iron, air, and water.
  • The company plans to move from lab prototypes to pilot-ready systems and build a multi-kW grid-connected prototype.
  • Commercial launch of containerized iron-air battery systems is targeted by 2027.

The bigger picture

  • Meine Electric's storage duration of 16-24 hours addresses the intermittency of solar and wind power.
  • The startup competes with US-based Form Energy, which is also developing iron-air batteries.
  • The company has won the National Startup Award 2026 and the Nasscom Emerge 50 Award.

About the business

  • Meine Electric builds iron-air long-duration energy storage (LDES) systems.
  • The technology uses a reversible rusting process with iron, air, and water to store and release energy.
  • Its systems provide 16-24 hours of storage duration, optimized for solar cycles with a full charge time of about 8 hours.
  • The target levelized cost of storage (LCOS) is less than $0.05 per kWh (about Rs 4 per kWh).
  • The company holds 4 granted patents and 7 international filings in its IP portfolio.
  • It operates a 5,000 sq ft facility in Chennai, being outfitted for pilot production.
  • Meine Electric plans to strengthen its team and research infrastructure, and deepen partnerships with IPPs (independent power producers) and C&I (commercial and industrial) customers.

What happens next

  • Transition from lab prototypes to pilot-ready systems.
  • Build a multi-kW grid-connected prototype.
  • Target commercial launch of containerized iron-air battery systems by 2027.
  • Strengthen team and research infrastructure.
  • Deepen partnerships with IPPs and C&I customers.

The deal

Type
pre-seed

Investors

Founders

  • Priyansh Mohan, Co-founder and CEO
  • Stuti Kakkar, Co-founder

About Meine Electric

Product
Iron-air long-duration energy storage systems providing 16 to 24 hours of grid-scale energy storage.
Customers
Power utilities, solar grid operators, and thermal power plant operators.
How it makes money
Engineering, manufacturing, and deploying utility-scale iron-air energy storage battery systems.
What sets it apart
Uses abundant materials including iron, air, and water with fast-charging chemistry delivering under $0.05 per kWh levelised storage cost.

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