Phelas specializes in the development of a liquid air energy storage technology tailored for integration with renewable energy sources. The Aurora long-term energy storage system is designed to help advance the energy transition. It stores electricity generated from renewable sources in a decentralized manner and makes it available around the clock. In addition, it offers the startup with its Catalyst service, a software-based advisory tool that helps energy suppliers and renewable energy developers make decisions about technology deployment.
New manufacturing expert on the board
As the Munich-based company has now announced, it has appointed Roger Lammin, a former senior director at SpaceX, to its advisory board. Lammin, a renowned manufacturing expert with more than 40 years of experience at Nestlé and BMW, among others, was at SpaceX from 2012 to 2019. There, he says he played a key role in establishing the production of the Falcon 9 rocket.
His experience in manufacturing and the rapid manufacture, production, and iteration of complex hardware will help Phelas achieve its vision of a 100 percent renewable energy future.
Successful seed round in March
At the beginning of the year, the Munich startup successfully launched its Seed round of 4.1 million euros The round was led by the Israeli climatetech fund E44 Ventures. Axon Partners Group, Deutsche Telekom Hubraum, BNV Partners, and other unnamed investors also participated in the financing.
The money from the financing round will be used to further develop the Munich-based company's technology and scale the liquid air storage system into the megawatt range. The EU-wide deployment of the solution will also be promoted.
Phelas-CEO Justin Scholz said at the time:
"Enabling 100 percent renewable energy worldwide is a given. We founded Phelas to make this vision a reality and enable our customers to build the renewable energy system of the future. Renewable energy and storage must become the cheapest, most sustainable, and most reliable energy supply in the world."
