Qnetic

Qnetic is a pioneering startup striving to revolutionize the energy landscape. With the slogan "Making the future of civilisation better: grid-scale energy storage technology enabling the transition to wind and solar," Qnetic focuses on facilitating the global shift to sustainable energy sources, essentially phasing out fossil fuels. The company's flagship product, a breakthrough flywheel energy storage system (FESS), is designed for daily energy shifting crucial in supporting solar and wind power. This method involves storing solar energy during the day for use at night and banking unutilized wind energy for daytime consumption, reflecting the future energy grid's functionality. In terms of cost-effectiveness, Qnetic prides itself on being capital cost-competitive with Li-ion batteries while demonstrating superior performance in terms of Levelled Cost of Storage (LCOS). This metric encompasses capital costs, operation and maintenance expenses, losses, degradation, and round-trip efficiency over the facility's entire operational lifespan, and Qnetic excels in this aspect by being approximately half the cost of Li-ion. Established in 2021 and headquartered in the United States, Qnetic recently secured a significant Seed Round investment on 11 December 2023, with SOSV and HAX as the contributing investors. The company anticipates reaching mass production of its energy storage technology by 2025.