Gigaete Secures 900 Million Won in Seed Funding: "Driving Energy Innovation with Thermal Batteries"

Gigaete, a company specializing in thermal energy storage, has secured 900 million won in seed funding.

According to Gigaete on September 11, this investment round was led by Shinhan Venture Investment, with participation from Bluepoint Partners, Daejeon Center for Creative Economy & Innovation-Gravity Ventures, and Star Ventures.

Gigaete is developing and commercializing the "Isothermal Thermal Battery" (ITP Battery), based on KAIST technology, which stores high-temperature waste heat or surplus renewable energy in the form of heat. This solution addresses the limitations of electricity-centric energy storage methods and expands the scope of application to industrial thermal energy sectors.

Unlike conventional lithium-ion batteries, the Isothermal Thermal Battery can stably store high-temperature heat of several hundred degrees for extended periods. Its applications include supplying industrial process heat, waste heat recovery-based cooling, district heating linked to renewable energy, steam supply for power generation, and surplus heat storage for small modular reactors (SMRs), among others.

With this investment, Gigaete plans to accelerate domestic and international proof-of-concept (PoC) projects. The company is participating in projects such as waste heat cooling demonstrations for domestic manufacturers, an eco-friendly district heating transition project in Mongolia, and an energy-saving initiative for grain drying in Australia.

Jang Daejun, CEO of Gigaete, stated, "With this investment, we will expand our demonstration projects and grow into a global leader in thermal energy innovation by collaborating with domestic and international partners. We will strive to set a new global standard for decarbonization as a K-Thermal Battery company."

Song Minsu, Senior Investment Manager at Bluepoint Partners, commented, "By extending the government's eco-friendly policies into the thermal energy sector, there is significant potential to achieve greater reduction effects. Through this investment, we aim to position Korea as a leader in the global low-carbon thermal energy transition market."

This content was produced with the assistance of AI translation services.