Real Tech Fund led the Investment into Vflow Tech, Developing Vanadium Redox Flow Battery

Real Tech Holdings Co., Ltd. (Headquarters: Sumida-ku, Tokyo; Representatives: Akihiko Nagata, Yukihiro Maru, hereinafter referred to as “Real Tech HD”) announced today that it has led the investment into Vflow Tech Pte Ltd, a Singapore-based startup developing high efficiency vanadium redox flow batteries (VRFB). Vflow Tech raised US$10 million in this Series A round from international VCs and strategic investors including İnci Holding (Türkiye), Pappas Capital (US) and Carbon Zero Venture Capital (Singapore) . 

Please see this release for more details.

VFlowTech will use the funds to set-up a 200MWh production line capacity and scale up the manufacturing of its 250 kWh modular vanadium-based long duration energy storage solutions.

Challenges in Storing Renewable Energy Toward Carbon Neutrality

As a countermeasure against global warming, there is an urgent need to promote the use of renewable energy sources such as solar and wind power generation. However, stability of power supply is an issue with these power generation methods, as the amount of power generated fluctuates greatly depending on seasonal and weather conditions. Therefore, a solution is needed to store energy when there is an oversupply of renewable energy and use it when there is excessive demand. Conventional storage batteries deteriorate quickly and are not used for large-scale, long-term operation due to price and safety issues.

Development of Vanadium Redox Flow Battery (VRFB) and peripheral systems to overcome the challenges of existing storage batteries

The VRFB developed by Vflow Tech is a low-cost, efficient storage battery that can withstand long-term use and is safe because it does not use flammable substances. By using an electrolyte that does not degrade over time, VRFBs have a long-term specification of 25 years and a high degree of flexibility in that their capacity can be freely changed by adjusting the amount of electrolyte.
The VRFB has improved power efficiency by 10% compared to conventional flow batteries through the use of an electrolyzer and flow path, a pump operation management system and other proprietory technology. VFlowTech’s has improved the operating temperature, eliminating the need for cooling facilities and making the VRFB smaller and more efficient.

■Use of Funds

With this financing, VFlow will set up a 200MWh production line capacity and expand the manufacturing of 250kWh modular vanadium-based long-term energy storage solutions. The team also plans to expand its presence in the Turkish, U.S., Japanese, Chinese, and Indian markets, as well as acquire new partners.
Real Tech led this round because of VFlowTech’s timely delivery of solutions needed by countries around the world. We will provide support for expansion into the Japanese market together with ecosystem partners to accelerate Vflow’s commercialization.

■About VFlowTech

• Establishment date ：January 2018
• Location ：1 CLEANTECH LOOP #02-26, CLEANTECH ONE SINGAPORE (637141)
• Representative ：Avishek Kumar
• Business ：Providing energy storage solutions, manufacturing low-cost and efficient modular vanadium redox flow batteries
• Web Site ：https://vflowtech.com/
• Investment date ：February 2023

■About Real Tech Holdings

Real Tech Holdings Co., Ltd. is committed to addressing societal challenges through the investment and nurturing of deep tech startups with innovative technologies (Real Tech). Our venture capital fund, “Real Tech Fund,” was established by Akihiko Nagata, CEO of Euglena Co., Ltd., who has a proven track record of successfully guiding deep tech startups, and Yukihiro Maru, CEO of Leave a Nest Co., Ltd., who possesses extensive experience in supporting deep tech startups from their early stages. We work closely with governments, companies, and municipalities both domestically and internationally, providing hands-on support to enhance the value of deep tech startups. With over 20 billion JPY in managed assets, Real Tech Fund has invested in over 90 startups in Japan and globally. In 2021, it established the first impact investment fund in Japan focused on the deep tech sector.
Website: https://www.realtech.holdings