romeo power, an energy storage company founded by engineers and designers from space x, tesla, apple, samsung, and amazon, recently announced that it has received $30 million in seed funding and is finalizing the installation of an automated 113,000 square-foot manufacturing facility near downtown los angeles, calif.
romeo power has received funding to ramp up production of its battery pack.
the company has created battery packs, with cylindrical lithium-ion cells, which are designed for electric vehicles and stationary storage applications. there are modular options for vehicles and the powerstack that is designed for harvesting and storing electricity from the grid during off-peak hours for use during peak times.
according to the press release, romeo power has already seen $65 million in initial orders that are scheduled for delivery in 2018. interested customers include u.s. and european automakers, power designers and robotics companies.
“we’ve seen incredible momentum in a short period, and we’re scaling manufacturing as fast as we can to meet demand,” said michael patterson, romeo power founder and ceo. “there’s a massive market opportunity for energy storage technologies.”
the company boasts that its battery packs have the highest energy density by as much as 25 percent over competitors, has enhanced thermal performance to speed up charge times by 15-30 percent, and are built with safety in mind to mitigate thermal runaway and fault-tolerant software “to protect against cross-cell propagation.”
a feature on romeo’s battery technology in forbes added, “although it uses the same types of small cylindrical lithium-ion cells that go into teslas, romeo says it has a completely different approach to packaging that results in lighter, more robust battery packs that also recharge faster and are easier to build.”
it added, “by maintaining more consistent and uniform temperature control, it’s ‘tighter and lighter’: packing individual cells closer together without the need for the liquid cooling system used by tesla.”