Nilar secured SEK 150M in a C-round series.

Nilar, a Stockholm, Sweden-headquartered manufacturer of the Nilar Battery and of complete energy storage solutions, announced that it closed a SEK 150 million ($17M) C-round. Most of the money, SEK 100M, was provided from MP Pension’s green investment allocation, Climate Delta,

To date, Nilar has raised a total of SEK 600 million.

The investment will be used to double Nilar’s production capacity at its factory in Gävle, Sweden, and to develop new products and solutions to serve a range of applications, including home-storage, electric vehicle rapid-chargers, telecom back-up, large scale PV-storage and grid-integrated electrical buffers.

Nilar, founded in 2011 and led by CEO Marcus Wigren, has developed a unique battery cell technology, which meets today’s demands on price, performance, safety and minimal environmental impact.

Nilar originated from a Denver based project which was brought to Sweden in 2010 and industrialized. It is the creator of the unique bi-polar Nilar Battery concept, and provides integrated systems, from battery cell to complete intelligent storage solution.

The bi-polar construction of the battery pack provides reliable storage and a stable power supply from a lighter, safer and greener unit. Its modular design allows for complete scalability, to cater for power and capacity, from small residential systems to megawatt utility-scale installations.

Nilar has two R&D departments in the USA (Denver) and Sweden (Gävle).