Non-lithium energy storage tech firms Torus and Alsym raise combined US$145 million

LinkedIn
Twitter
Reddit
Facebook
Email

US-based startups Torus and Alysm Energy have raised a combined US$145 million to scale up their non-lithium energy storage technology businesses.

Utah-headquartered Torus has raised US$67 million in new equity, conversion of outstanding notes and a loan facility in a round led by Origin Ventures with participation from Epic Ventures, Cumming Capital, the Larry H. Miller Company, Zions Bank, Pelion and ICONIQ.

Massachusetts-based Alsym meanwhile has raised US$78 million in venture capital funding from Tata Sons, part of the large Indian conglomerate Tata, and General Catalyst, it announced on the same day as Torus (3 April). Its fundraise also saw participation from Thrive Capital, Thomvest and Drads Capital.

Torus to scale up flywheel tech and software offering

Torus deploys residential and commercial-sited energy storage systems using flywheel technology and offers virtual power plant (VPP) solutions in collaboration with utilities like Rocky Mountain Power in Utah through its Wattsmart programme. It also has an energy management system (EMS) which it said allows it to connect to third-party products like inverters and batteries.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company claims its flywheel-based technology is differentitated from chemical batteries by being 95% recyclable, unaffected by temperature fluctuations and has a 25-year service life.

Torus added that it will use the new funds to “deepen its energy solutions portfolio in the commercial and large-scale utility sectors and add critical talent to the Torus team.”

Two immediate additions are at board level, with the additions of Brent Hill, MD of Origin Ventures, and David Bywater, former CEO of home security firm Vivint Smart Home and its former solar arm Vivint Solar, which was acquired by solar installer Sunrun in 2020.

Alsym raises capital for mystery non-lithium battery technology

Alsym has not publicly revealed what battery chemistry it uses but has said it is a “low-cost, high-performance rechargeable” and contains no lithium or cobalt.

It will use the fresh funding to grow its Boston-based team and expand prototyping and pilot lines to address growing customer demand for samples.

The first product is called Alsym Green, and it’s claimed to offer a superior system-level energy density than other non-lithium battery chemistries. It said it is applicable for stationary energy storage as well as maritime and automotive (two- and three-wheelers and consumer vehicles).

Energy-Storage.news has asked the company for more details on its battery chemistry and will update this article if a response is received.

Read Next

August 29, 2025
The Australian government has opened two CIS tenders in Western Australia, targeting 2.4GWh of energy storage and 1.6GW of renewables.
August 29, 2025
Potentia Energy, a joint venture co-owned by Enel Green Power and INPEX, has secured the first environmental approval for a grid-scale battery energy storage system (BESS) under South Australia’s new Hydrogen and Renewable Energy (HRE) Act.
Premium
August 28, 2025
Energy-Storage.news Premium speaks with Sergio Melendez, storage sector manager at CAISO, and Ali Karimian, market optimisation director at GridBeyond, about regulating Bid Cost Recovery Payments in the California Independent System Operator market.
August 28, 2025
California utility Pacific Gas and Electric (PG&E) has pushed back recommissioning of the Elkhorn battery energy storage system (BESS) by approximately one year, to 30 June 2026.
August 27, 2025
Three companies, Pacifico Energy, Zenith Volts, and Fermi America have begun expanding power generation and energy storage capabilities for US data centre development.

Most Popular

Email Newsletter