Asia Climate Partners backs US-based Fluidic Energy

The new capital will be used to support Fluidic's expansion in Asia, according to a release. Fluidic already has a strong presence in the region, including a regional headquarters and manufacturing facilities. It views Asia as a major opportunity, in light of the estimated 600 million people in the region living without electricity.

Fluidic's proprietary zinc-air battery technology allows large amounts of energy to be stored and discharged over as long as several days. The company positions the technology as a valuable supplement to renewable energy, since it can provide a reliable backup power supply in situations when renewable sources such as solar and wind are unusable.

More than 100,000 of Fluidic's batteries have been installed worldwide since 2011, in applications ranging from telecom installations, rural electrification and micro grids. Fluidic has a manufacturing base in Indonesia and has supplied its systems to business and residential customers, with one notable recent project seeing it install over 22 megawatt hours of energy storage across the country.

Asia Climate Partners was launched in 2014, with ADB, Orix and Robeco committing a total of $400 million. Bank of Tokyo-Mitsubishi UFJ joined the LP roster last year with a $30 million investment. The vehicle targets green energy and low carbon businesses across India, China and Southeast Asia. Recent investments include a commitment of an undisclosed amount to Indian cold chain provider ColdEX Logistics.

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• Topics
• Southeast Asia
• North America
• Cleantech
• Expansion
• USA
• energy
• Growth capital