Mylad C. – Co-founder/CTO
“During this journey, we have met start-ups who had also applied for the EIC funding and their stories suggested that, for them, the application process was like navigating through a maze. Working with Strata on the grant application has been a great help for us. We were gently supported through every step of the process.”
Novel battery technologies are needed in the economic transition towards a more sustainable economy. While given their technical characteristics lithium-ion batteries have emerged as the de-facto standard for mobile batteries, we still need more cost-effective and environmentally friendly technologies for large-scale stationary batteries.
Spin-offs, leading University research groups, and energy companies are in the race of developing more sustainable and efficient solutions to address this need. Stationary energy storage is projected to enjoy a +20% CAGR until 2030, representing the development of a + $ 140 billion market.
Enerpoly, a young spin-off based in Stockholm, joined the race in 2018 aiming to revolutionize the stationary battery market. Its next-generation zinc-ion battery technology provides a 50% reduction in costs, uses abundant and cheap materials, and is recyclable with existing infrastructure.
The company not only owes its success to its unique technology but to its team and leaders: Eloisa de Castro (CEO), Mylad Chamoun (CTO), and Samer Nameer (CINO) who’s capabilities blend the right mix of technology, innovation, management, and business development.
Strata has been working with Enerpoly since its early foundation and our partnership has led Enerpoly to attract significant funding (1.6 million eur) from the EIC (European Innovation Council), which will be leveraged to progress along with the TRL of its cell technology, strengthen its IP portfolio as well as partnership development.
Mylad Chamoun, Co-founder and CTO of Enerpoly, has shared his company’s journey and thoughts about working with us.
- You have a very successful career and a breakthrough technology that can change the dynamics of the entire energy industry. Could you please tell us a little bit about how your research has led to such a big innovation?
Despite my long academic career, I always had the ambition to work closely with commercially feasible technology. I spent some time in the US which inspired me to use my know-how to achieve something for the greater good and to help build tangible solutions. When I came back to Sweden during my PhD in 2016, I initiated a side-project that led to the foundation of our company, Enerpoly. With my deep insights about battery technology, I gained interest in market dynamics and financials of bringing an idea to the market, which allowed me to pursue a career as an entrepreneur.
- How and when did your path cross with Strata?
I was introduced to Strata by our business advisor at Stockholm University in early 2019 when we were looking for opportunities to accelerate our commercialization activities. Fundraising seemed convenient to finance our cutting-edge project.
- What were your expectations from working with an innovation consultancy firm like Strata who is specialized in helping start-ups and spin–offs to progress in their funding journey?
To be frank, we did not know what to expect from Strata when we first met, and even though we were in touch with other consultancy firms offering similar services, we chose to collaborate with Strata as they had connected very well, and the team had the right experience to pull things through.
- What solutions and services did they propose to you during your collaboration?
Working with Strata on the grant application has been a great help for us. We were supported through every step of the process. In our preparation for the feasibility study and the project proposal, we continuously improved our business case together with Strata, where cases of pivoting from one model did occur. In the end, all the hard work paid off.
Getting the EIC funding is not an easy task. The applications need to demonstrate the value of their projects as evaluators are basically looking for the next unicorn. Strata supported us through a difficult selection process that the EIC carries and ensured that we were prepared to efficiently realize this project.
Besides, they have an end-to-end approach that covers project management services following the funding application process. So, we are still working closely with Strata to bring our technology to the market based on our promise to EIC.
- How would you define the collaboration between Strata and Enerpoly?
It was a true collaboration, a win-win for both parts, where we learned a lot working with each other, and we still are, while continuing to tap into each other’s network.
We’re happy to have collaborated with Strata to progress in our journey and we can confidently say that we have matured as a company.
Today, Enerpoly counts with the support of the EIC and Sting, the most prestigious deep-tech incubator program in Sweden. The company also boasts an important number of technical and strategic partnerships with leading European engineering companies and continues adding new talents to its team.
We are extremely proud of working with Enerpoly in the exciting challenge of shifting the paradigm in the Energy industry.
Are you curious about how Strata could also bring your technology to the market? Contact us at email@example.com and we’ll get in touch to discuss your project with you!