Chevron Technology Ventures LLC has closed a strategic investment in battery technology provider Natron Energy Inc. to support the development of stationary energy storage systems for demand charge management at electric vehicle charging stations.
The technology, originally designed to power data centers and utility scale applications, uses Prussian Blue dye, which is commonly used in blueprints, to store and release energy in the form of sodium ions. Due to the Prussian Blue dye's widespread availability and cost, Natron said such electrodes can be less expensive and better environmentally than battery technologies like lithium ion.
The amount of the strategic investment was not disclosed. Chevron Technology Ventures is owned by Chevron Corp.