Cache Energy Receives Pre-Seed Funding from Evergreen Climate Innovations

Evergreen Climate Innovations announced its investment in Cache Energy which is developing transformational ultra-long duration energy storage technology using a thermo-chemical energy storage process that is suitable for a wide range of industrial applications.

Cache's ultra-long duration energy storage technology is based on low cost, non-toxic, abundant material that stores energy under ambient conditions without special containment. Once charged, the material can store energy for months with near zero loss and can be easily transported where energy is required, making it as dispatchable as fossil fuels, but safer.

This investment is from the Illinois Clean Energy Innovation Fund. Evergreen Climate Innovations manages the Illinois Clean Energy Innovation Fund, which is funded by the U.S. Department of Energy State Energy Program and overseen by the Illinois Environmental Protection Agency's Office of Energy.

"We are proud to support Cache Energy's innovative energy storage solution," said Erik Birkerts, Chief Executive Officer at Evergreen Climate Innovations. "This powerful technology can store industrial heat or grid electricity at a very low cost, allowing industries to decarbonize safely and quickly."

"One of the biggest public fears facing our transition to clean energy has been potential job loss due to changing skillsets," said Cache Energy founder Arpit Dwivedi. "Our technology removes that challenge because it is very similar to thermal power plants, thus uses the same trained workforce and leverages the existing infrastructure to install and operate. Only the technology is new and safer!"

Cache's team is inspired by the fact that fossil fuels are simply just chemicals buried under earth which react with air to produce energy. Cache Energy was born to find an alternative chemical reaction based on abundant material that doesn't generate greenhouse gases and can be re-used over multiple energy storage and discharge cycles.

Cache Energy's nontoxic, nonflammable, transportable energy storage material can be installed and stored anywhere and has the potential to compete with hydrogen as well as coal but in a clean and distributed fashion. Cache Energy is on the path to making clean energy accessible and affordable everywhere.