Flow Battery Competitors

mundanemushroomsElectronics - Devices

Nov 21, 2013 (4 years and 6 months ago)


Flow Battery Competitors


48611 Warm Springs Blvd

Fremont, CA, 94539







Founded in 2004 in the heart of Silicon Valley, Deeya Energy

is a cleantech company dedicated to
developing and manufacturing electrical energy storage systems. Deeya Energy's innovation, the L
is based on a novel battery technology originally developed by NASA in the early 70's as a potential
energy storage
method for long term space flights. Deeya Energy's management team is comprised of
veterans from the fields of industrial power, energy storage, telecommunications, semiconductors and
chemical industries.

Fund Raising:

Series C

May, 2009

$30 Million

Series B

January, 2008

$15 Million

Series A

Date Unknown

$7.5 Million

Press Release:

FREMONT, CA (May 5, 2009)


Deeya Energy, an industry leader in next generation energy storage
platforms, announced that it has completed an oversubscribed $30M
Series C financing. Deeya's
innovative solution addresses the $46 billion energy storage market by offering a scalable, economical
and renewable alternative to current technologies. Deeya's Series C was led by new investor Technology
Partners and existing
investors BlueRun Ventures, DFJ, Element Partners and New Enterprise Associates
(NEA) all participated in the round. This series C financing brings Deeya's total venture capital
investment to $53 million since its founding in 2004.

Ira Ehrenpreis, general

partner at Technology Partners who runs the firm's Cleantech practice, explains
that, "Deeya has changed the paradigm of energy storage technology from being a consumable to
becoming an asset which benefits the customers by increasing the performance and
reliability of storage
and saving fuel costs with zero environmental impact. Deeya's first product, the ESP, can save over a
billion dollars annually in diesel fuel costs in the first target market, the Indian wireless cell tower
industry." He adds, "The c
ompany's future markets in renewable energy and grid power are even larger
potential markets over time."

"We are poised for tremendous growth with a very strong value proposition to our customers. Deeya
has already deployed its system to several customers
in key application segments such as
telecommunications," says Izak Bencuya, Deeya's CEO. "This new financing will give Deeya the resources
it needs to ramp up production and scale operations

and we are very pleased to have attracted Ira and
Technology Pa
rtners to our company."

"We were attracted to Deeya as an early investment opportunity because it addresses all three primary
energy storage markets: backup, renewable storage, and grid storage. We also saw from our experience
in wireless and telecommunica
tions that power infrastructure was a real limitation for wireless telecom
growth," comments Sujit Banerjee, partner at BlueRun Ventures.

"Not only does Deeya's storage platform address the growing demand for consistent power, the solution
is renewable and

recyclable," says Ravi Viswanathan, partner at NEA. "The status quo lead acid batteries
have toxic materials that are partially recyclable at best. Deeya's solution is non
toxic and 100%

Deeya Management:

Dr. Izak Bencuya

Chief Executive Officer

Dr. Saroj Sahu


Founder & Chief Technology Officer

Col. Virendra S. Rawat


Chief Strategy Officer

Sasank Kumar


Vice President, Worldwide Sales a
nd Managing Director, India

Ajay Arora


Vice President, Worldwide Marketing and Product Management

Varsha Patel


Vice President, Worldwide Engineering

Praveen Soneja


Vice President, Worldwide Manufacturing

Mahender Mehta


Vice President, Services

Scott Elliott


Vice President, US Manufacturing

Management Bios

Dr. Izak Bencuya

Chief Executive Officer

Dr. Izak Bencuya, joined Deeya Energy in June of 2008. Dr. Bencuya has over 25 years of experience in
the semiconductor industry. His career has included positions at Yale University, GTE Laboratories, and
ix in various research and management roles developing leading edge power devices. He joined
Fairchild Semiconductor in 1994 to start the Power Products Division which grew to $950M annual
revenue under his leadership.

He remained at Fairchild as Executiv
e Vice President and General
Manager of the Functional Power Products Group in San Jose, California until the end of 2007. Dr.
Bencuya has a B.S. in Electrical Engineering from Bogazici University in Istanbul, Turkey, an M.S. and
Ph.D. in Engineering and A
pplied Science from Yale University and an M.B.A from University of California
in Berkeley. He is a member of the IEEE Electron Device Society. Dr. Bencuya holds 22 patents and has
published extensively in the electronics field.

Dr. Saroj Sahu

Founder &
Chief Technology Officer

Prior to founding Deeya Energy, Dr. Sahu held technology leadership positions at Raychem/Tyco
Electronics, Jasmine Networks, and Santec Corporation.

In addition, his academic works include
determination of structure of photon and

particle detectors for b
quark physics.

He has been a Visiting
Scholar (Monbusho Fellow) at Japanese National Accelerator Physics Lab (KEK) invited by the Japanese
Ministry of Education, a Researcher at University of Hawaii (Honolulu), and National Taiwa
n University
(Taipei). Dr. Sahu has published technical articles in over 60 international journals, is a published book
author and holds one US patent, with several pending.

He holds a Ph.D. in Experimental Physics.

Col. Virendra S. Rawat

Chief Strateg
y Officer

Colonel Rawat brings to Deeya more than forty years of telecom experience.

Most recently Viren held
the position of Senior Vice President & Chief Technical Officer at Bharti Airtel, the largest Indian telecom
operator. Prior to his position with

Bharti Airtel, Viren held positions as Chief Technical Officer at BPL
Cellular and Head of Projects with AKG Acoustics (India).

He also served for twenty four years as a
telecom manager in the Indian Army's telecom Corps of Signals.

Sasank Kumar

Vice Pr
esident, Worldwide Sales and Managing Director, India

Sasank Kumar has a stellar background in general management and corporate development.

A recent
recipient of the Sloan Masters at the London Business School, Sasank has held executive positions at
rlpool, Diageo, and BILT.

Most recently, he spent eight years with Nokia Siemens Networks as Vice
President of East Europe and Central Asia.

Sasank was honored in 2009 as the Old Mutual Scholar of the
Sloan Masters’ Program and as a National Talent Schol

He also holds a masters degree from XLRI,

Ajay Arora

Vice President, Worldwide Marketing and Product Management

In his role at Deeya Energy, Ajay Arora brings to bear an extensive background in new product
introductions across multiple ve
rtical markets.

His core expertise is in product management, marketing,
and strategic initiatives with a long track record in new product strategies and supporting services.

to joining Deeya, Ajay was Vice President of Products & Services at Masher
y, and Vice President of
Products and Solutions at newScale, Inc.

He held previous positions at Centrata (Lontra), Euclid
(Metrikus), Corio (IBM), Oracle, and Lockheed Martin.

Ajay holds a Masters Degree in Computer Science
from Rensselaer Polytechnic In
stitute and a BSEE from the University of Michigan, Ann Arbor.

Varsha Patel

Vice President, Worldwide Engineering

Varsha Patel has over 20 years of experience in product development and systems engineering. As VP of
Engineering at Oorja Protonics Inc., a

Fuel Cell company, she was responsible for product design and
successful field deployment. Varsha has led engineering teams and multiple product development
programs at KLA
Tencor, Novellus and Varian where she focused on semiconductor capital equipment
or PVD, CVD and Photoresist Strip applications. She has an M.S. in Electrical Engineering from King's
College London UK.

Praveen Soneja

Vice President, Worldwide Manufacturing

Paveen Soneja brings 27 years of manufacturing and corporate planning to Deeya.

Most recently, he
was Executive Vice President of Corporate Planning at ISGEC Group, a privately held company in the oil
and energy business.

Prior to his position at ISGEC, he held various positions at Xerox Corporation in
their Renewables & Environmen
t Division.

Mr. Soneja holds an MBA from Manchester Business School
in the UK and did his undergraduate work at Motilal Nehru National Institute Of Technology.

Mahender Mehta

Vice President, Services

Mahender Mehta comes to Deeya with more than 28 years
of leadership experience.

Most recently Mr.
Mehta served as Chief Executive Officer (CEO) of India Operations for Eltek Valere, a global power
systems company.

Previous roles include positions with The English Electric Company, Tata Consultancy

(TCS) and Modi Xerox.

Mr. Mehta graduated with distinction in engineering from Delhi College
of Engineering, holds an Export Management degree from IIFT and an MBA from Faculty of
Management Studies (FMS), Delhi University.

Scott Elliott

Vice President,

US Manufacturing

Scott has 30 years of operational experience in the Semiconductor Capital Equipment, Fuel Cell, and
Electronics industries. Scott’s background includes many leadership roles for Applied Materials and
Bloom Energy.

His experience includ
es commercializing new products domestically and abroad,
establishing production systems and managing production facilities in Europe, Asia, and the US. Scott is
an expert in Lean Manufacturing Production (LMP) systems, and has implemented these concepts i
n the
introduction of new products, and in the expansion of existing production demands.

He holds a
Bachelor of Science degree in Industrial Engineering.

Technical Advisor

Lawrence H. Thaller, Ph.D.

Lawrence Thaller graduated from Pennsylvania State Un
iversity majoring in Chemical Engineering where
he secured a B. S. degree. Following graduation, he attended Northwestern University where he
continued his studies in Chemical Engineering earning his M.S. and Ph.D. degrees. He joined NASA's
Lewis Research
Center and began a long
term career in the field of electrochemical devices for
aerospace as well as terrestrial applications. It was during the energy crisis in 1973 that NASA scientists
applied their expertise to investigate energy production and storage

concepts that could be applied to
pressing terrestrial issues. Bulk energy storage coupled with base load power generating plants was one
of the items of particular interest. Based on his involvement in fuel cells for aerospace applications and
his knowle
dge of the short comings of traditional rechargeable batteries for large energy storage
applications, in 1973 he conceived the unique concept of using liquid oxidation/reduction (redox)
solutions as the active materials in what he called redox flow batteri
es. The patent covering this concept
was issued to Dr. Thaller in 1974. During his career, he authored many papers, reports and several books
related to aerospace fuel cells and batteries as well as foundational studies related to redox flow
batteries. He
currently serves as an exclusive technical advisor to Deeya Energy.


Storage Management Products

Deeya Energy has productized its L
technology into an Energy Storage
Platform (ESP
) and the first product in this family is the ESP 24K
ESP 24K achieves a new level of reduced cost and increased performance
in providing critical infrastructure support for low availability service areas,
and optimizing bulk renewable energy penetration within the energy

The ESP 24K is an econo
mically and technologically superior alternative to
conventional and environmentally hazardous lead
acid batteries, enabling
significant operational savings with diesel engine generators in applications
ranging from a few kilowatts to megawatts. One of the

design features of
the technology is the decoupling of power and energy. This allows high
volume production to be easily tailored to site
specific backup

The design life of the ESP 24K product is 20 years, with 5
year service
intervals and m
inimal maintenance. The technology is also insensitive to
ambient temperature, enabling outdoor operation and eliminating costly
and unreliable cooling equipment. Most importantly, ESP 24K can be charged quickly: a four
hour back
up system takes only three

hours to recharge, dramatically improving system availability. Deeya's
systems contain no heavy metals and release no poisonous or hazardous fumes, making them an
excellent clean energy technology.

Benefits Summary

* Modular energy storage

* 24kWh of Ene
rgy Dispatch per day

* Super fast charging time

* Rugged, outdoor design:
5C to +50C

* Clean, green & non
toxic materials

* 10,000+ charge/discharge cycles



Deeya Energy, the flow battery company, has started to commercially ship its units, according to Izak
Bencuya, CEO of Deeya, who spoke this

morning at the Smart Grid Innovation Symposium sponsored by
Innovation Center Denmark (otherwise known as the SGISICD taking place in Menlo Park.)

"We started selling in June," he said. The first permanent installations will take place this month, he

Deeya's units can hold about 2 kilowatts of energy. It is selling them first to cellular companies to
provide power to cell towers. Its first market is India. Flow batteries, however, could help balance or
store power at utilities. VCs have been clamori
ng for energy storage technologies and large
conglomerates like
General Electric

have been to. So the fact that they have succeeded should give
everyone a d
ose of optimism.

Right now, the technology costs are high because the company is not at scale, he said. "The customers
who are paying for it right now are using diesel generators as distributed power generation, maybe 20
hours a day, for mission critical a
pplications. The cost of running diesel generators is very very high."

Deeya saves these kind of customers 50 percent to 90 percent of the operating cost. To get to grid,
Deeya will have to bring the cost down by four times.
The units now sell for

around $
4,000 per kilowatt
In the next twelve to 18 months, Deeya would like to do a megawatt
scale demonstration.

Earlier in the month, Deeya announced it raised
$30 million

Founded in 2004, Deeya earlier raised $15 million in January 2008 and about $7.5 million in an earlier
round of funding (see
Funding Roundup: First Deals of the New Year

Deeya's redox flow batteries are aimed at providing a low
cost alternative to lithium
ion and other
advanced batteries

about 10 to 20 times less expensive, the company says. Redox flow batt
eries work
by moving an electrolyte through a reactor that converts their chemical energy to electricity. Spent
electrolyte is recovered for recharge while newly energized electrolyte is pumped back in.

That system combines a battery's efficiency with a fu
el cell's bulk energy storage capacity, according to
NASA, which first
developed the technology

behind Deeya's energy storage platform in the 1970s.


1244 R
eamwood Ave.

Sunnyvale, CA 94089

(408) 636

Web Site:


Craig Horne


Darren Hickey

Ken Pearlman

Frederic Benque



chemical engineer from UC Berkeley (he
gave a talk at the
Berkeley Energy Storage
) and has worked on energy storage technologies, from fuel cells to lithium
ion batteries, and
worked at companies including NanoGram, NeoPhotonics, Kainos
Energy and World Energy Labs. Other
members of the company hail from fuel cell maker Bloom Energy, as well as other energy storage


Institutional Funding

$650,000 grant from the NY State Energy Research and Development Agency


Series A

$3.5 Million

cently raised its first round of $3.5 million in venture funding, from
Oceanshore Ventures and U.S. Invest

he company plans to use the funding to build a prototype that can demonstrate that their flow battery
nology can scale to megawatts, as well as for adding on staff and attracting new customers. Once
the prototype is built, EnerVault says it will look for follow
on and government funding to build a full
scale field
deployable system.

EnerVault CEO Craig H
told us last May

that the company’s flow battery can run around $100 per
kWh, but says that price could also come down
when the company scales up production. In comparison,
ion batteries

can cost from $200 per kWh to $500 per kWh and up to $1,000 per kWh for more
advanced batteries with more expensive materials.

Prudent Energy


DT Capital Partners and Draper Fisher Jurvetson (DFJ)

testing flow battery in wind farm in Montana