Meine Electric, a deep-tech startup pioneering iron-air long-duration energy storage in the Asia-Pacific region, has raised $750,000 (approximately ₹6.7 crore) in a pre-seed funding round. The investment was led by Antler, Rebalance and Venture Catalysts, with participation from gradCapital, AIC–AU Incubation Foundation at Anna University, and a group of seasoned angel investors, including energy industry veteran Alexander Hogeveen Rutter. The funding reflects strong confidence from both industry and academic ecosystems in the company’s technology and vision.
The capital will be used to move Meine Electric’s iron-air battery systems from laboratory-scale prototypes to pilot-ready deployments. Founded in 2023 by Priyansh Mohan, a metal-air battery technologist and Anna University graduate, and Stuti Kakkar, a former management consultant and economist, the company has developed a proprietary iron-air battery platform designed for long-duration energy storage at scale.
Meine Electric’s technology is built on abundant and low-cost materials such as iron, air and water, operating through a reversible rusting process. During discharge, iron oxidises to produce electricity, and during charging, the process reverses to regenerate metallic iron. The company has demonstrated a levelised cost of storage below $0.05 per kWh (around ₹4 per kWh), positioning the solution as a cost-effective alternative for long-duration storage. Unlike many global counterparts, Meine Electric’s system supports faster charge and discharge cycles, enabling seamless integration with solar-dominated power grids.
While lithium-ion batteries are typically limited to short-duration storage, Meine Electric’s iron-air batteries are designed for 16 to 24 hours of discharge and can be fully charged within eight hours—closely matching daily solar generation peaks. This makes the technology well suited for round-the-clock renewable energy supply across grid-scale, commercial and industrial applications.
The company currently holds four granted patents and has filed seven international patents, with additional filings underway. Its chemistry performance has been validated against global benchmarks, making Meine Electric the only player in the APAC region with a proven iron-air technology stack.
Commenting on the milestone, Co-founder and CEO Priyansh Mohan said the company’s focus over the past three years has been on stabilising and standardising iron-air chemistry. He added that the next phase involves proving the technology for grid and industrial use, positioning iron-air storage as a foundational asset for renewable-first power systems.
Investors echoed this confidence, noting the growing need for long-duration storage as renewable penetration increases. They highlighted Meine Electric’s strong combination of deep electrochemical research and system-level execution as key differentiators.
Meine Electric operates from a 5,000 sq ft facility in Chennai, currently being upgraded for pilot production. The team brings over 75 years of combined experience and plans to develop multi-kilowatt grid-connected prototypes, followed by larger pilots, with the aim of delivering containerised iron-air battery systems by 2027.
