Flint, a company developing paper batteries, has raised $2 million in seed funding. The round was led by a consortium of angel investors along with participation from AI-driven VC firm Hatcher+.
Flint develops cellulose-based paper batteries, which use materials such as cellulose paper, zinc, and manganese. The technology is expected to be fully compostable at the end of its lifecycle, making recycling easier.
“This funding milestone represents years of technical breakthroughs, and now, with real-world applications on the horizon, we are laser-focused on delivering our solutions to market. Our batteries are engineered to excel where traditional technologies fall short, and we believe they will transform industries that demand superior safety, sustainability, and flexibility,” said Mr. Carlo Charles, Founder and CEO of Flint.
The company aims to provide another option to legacy battery technologies like lithium-ion and lead-acid technology. The funding is expected to support commercial expansion, pilot production, and intellectual property development
“A lower production cost is at the core of creating demand, scaling quickly, and increasing adoption rates while ensuring profitability,” said Mr. Jeremy Wee, Co-Founder of Flint.
The company has attracted interest from over 20 companies across sectors, including Energy Storage Systems, Critical Power Supply, Electric Vehicles (EVs), Defense and Security, and others.
According to Mercom’s 9M and Q3 2024 Funding and M&A Report for Energy Storage and Smart Grid, VC funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease year-over-year compared to $8.6 billion in 68 deals in 9M 2023.
In December 2024, Enzinc, an advanced zinc battery developer, raised $8 million in a Series A funding round led by TO VC, with participation from American Century Investments (ACI), which led Enzinc’s seed round.
