Meine Electric Raises USD 750,000 Pre-Seed Funding to Scale Iron Air Long Duration Energy Storage Technology

Meine Electric, an innovator in iron-air Long-Duration Energy Storage (LDES), has raised USD 750,000 (approximately INR 6.7 crore) in pre-seed funding from investors including Antler, Rebalance, Venture Catalysts, gradCapital and AIC-AU Incubation Foundation, along with prominent angel investors such as industry veteran . The funding is to further  accelerate the company’s transition from laboratory-scale prototypes to pilot-ready battery systems.

Founded in 2023 by Priyansh Mohan, a metal-air technologist and Anna University graduate, and Stuti Kakkar, a former BCG consultant and economist, The company  has demonstrated a proprietary iron-air battery capable of delivering long-duration energy storage at a levelised cost of less than USD 0.05/kWh (around INR 4/kWh). The technology uses abundant materials such as iron, air and water and operates through a reversible rusting process to store and release electricity.

Unlike conventional lithium-ion batteries, which become economically unviable beyond a few hours of storage, Meine Electric’s iron-air solution is designed for 16–24 hours of storage and can be fully charged within eight hours, aligning with peak solar generation windows. The company has also developed faster charge and discharge capabilities compared to global peers, enabling integration with solar-heavy grids.

Commenting on the roadmap, Priyansh Mohan, Co-Founder and CEO, said the company’s focus has been on making iron-air chemistry stable, repeatable and grid-ready, positioning it as a backbone asset for renewable-first power systems.

 The company has secured four granted patents, filed seven international patents and demonstrated chemistry performance benchmarked against global standards.

Industry leaders backing the company highlighted the growing need for long-duration energy storage as renewable energy penetration increases, noting the potential of iron-air batteries to replace diesel generators, support off-grid use cases and strengthen grid-scale renewable integration.

Meine Electric operates from a 5,000 sq ft facility in Chennai that is being upgraded for pilot production. The founding team brings over 75 years of combined experience and has spent the past three years refining the core chemistry to prepare for scale-up and field validation.

Looking ahead, the company plans to use the funds to build multi-kilowatt, grid-connected prototypes followed by larger pilot units, with the aim of delivering turnkey, containerised iron-air battery systems by 2027. Part of the capital will also support team expansion, research infrastructure and partnerships with independent power producers and energy-intensive commercial and industrial customers.