Vietnamese sand battery startup Alterno successfully raises $1.5M from Schneider Electric

Is your factory struggling with high electricity cost? Do you spend massive money on electricity for your farming business? Then, it's time for change. And Alterno will help your business significantly lower utility expenses with their magical sand battery technology. Sound interesting? Check it out!

🔋Alterno: a pioneering startup in sustainable energy storage solutions using sand battery technology to serve businesses in agriculture, industry, and residential heating, helping cut carbon emissions.

• Founded in 2023 by experienced entrepreneurs Mr. Hai Ho and Mr. Nam Nguyen.

• Before Schneider Electric, Alterno attracted $2.1M from investment groups The Radical Fund, Touchstone, Antler, Impact Square, Temasek, and P4G, which shows the great potential and positive impact that Alterno's sand battery technology solutions deliver.

☀️Advantages of Alterno sand battery technology:

• Cheaper, longer battery life than traditional lithium-ion batteries.

• Storing renewable energy, helping reduce carbon emissions.

• The application of Alterno sand battery technology helps enhance the reputation of businesses following the ESG sustainable development criteria.

• Plug-and-play thermal energy storage systems make installation and deployment quick, easy, and customizable for small to large-scale projects.

• Diverse financial options when applying Alterno's solutions: prepayment, deferred payment (buy-now-pay-later), and on-demand heat service (HaaS - pay based on actual usage).

💰Schneider Electric:

• The corporation specializes in the digital transformation of energy management and automation. It pays special attention to investing in green technology like clean energy, to create a long-term and sustainable impact on all walks of life.

• The corporation's investment fund is Schneider Electric Energy Access Asia (SEEAA).

• SEEAA Fund: invests in startups solving Asia's energy problems to improve access to affordable green energy, accelerating the transition to renewable energy. By 2024, the fund will create more than 1,000 sustainable jobs through investing in startups, helping 1.9 million people access clean energy and reducing 1.6 million tons of CO2 emissions into the environment.

🤩 Benefits from Schneider Electric's investment capital:

• Increase financial resources for Alterno.

• Help Alterno build a sustainable commercial solution for sand batteries.

• Help Alterno bring renewable energy storage solutions to undeveloped areas.

🧐Useful additional information:

🌍 Renewable energy market potential:

• The strongest growth in the past three decades (According to the International Energy Agency IEA)

• Forecast: Global capacity will reach 7300 GW by 2028 and triple by 2030 (according to COP28)

• The application of renewable energy faces barriers because of the lack of efficient and affordable energy storage solutions. More startups are needed to remove the barrier.

🌦️Renewable energy:

• It is a completely clean energy, created from continuous and infinite sources such as sunlight, rain, wind, tide... Renewable energy helps reduce carbon emissions (greenhouse gas CO2), protecting the environment.

• In contrast to fossil energy (generated from fossil fuels including coal, oil, and natural gas. Fossil energy pollutes the environment (producing large amounts of the greenhouse gas CO2 and other contaminants)

🏰 ESG: is a set of 3 standards including Environment, Society and Corporate Governance to measure the level of sustainable development of a business.

• According to the Financial Times, investment cash flows into ESG-compliant businesses have become stronger than ever.

• According to CME Group, businesses that take ESG standards as a core value in their business operations are receiving a lot of investment from investors.