SAX Power - Breakthrough in battery technology

Interview with Lei Shen, Managing Director of SAX Power

With its new technology, SAX Power aims to start a revolution in battery technology. The SAX battery with alternating current output is based on a new type of digital switching of battery cells. The solution offers considerable advantages for e-mobility, its largest market in the long run. The team from Ulm is preparing for its financing rounds with the financing coaching by BayStartUP.

What exactly is your solution about?

We have developed a digital battery controller for Li-ion batteries that delivers alternating current directly, without an inverter. SAX technology can make optimal use of batteries, while today's models are limited by the weakest cell. We generate AC voltage from the cell voltages and thus have a high-voltage technology without the problems in the high-voltage range.


Why is your solution so interesting for the market?

The SAX battery storage units are about 30 % smaller and lighter, thus saving space and weight – and cost by eliminating the inverter. They are very safe for installation and service personnel because the storage unit can be switched off in 0.2 milliseconds and there is also no risk of fire. We have an extremely high efficiency of 99% and a 40% longer lifetime. The storage is easy to install thanks to a plug-in solution.


Where do you want to go with your solution, where do you see special potentials?

Our electricity storage units for photovoltaic systems are already available, and in the future we will be tackling e-mobility. E-cars are becoming increasingly important, with over 34 million expected in the EU alone by 2030. For them, SAX technology has other advantages, such as lower cooling requirements and a 50% reduction in charging time. There is also virtually no longer any risk of explosion after a crash.


Which markets are you focusing on first?

There is serious interest from machine builders, for example for cranes or electric boats. Ships with environmentally friendly electric drives are a big topic. The technical requirements for ships and construction machinery are lower than for e-cars, so this is a good intermediate step for us.


You have just closed a financing round. How are you positioned now and what do you want to use the capital for?

We initially accepted only a few investors; about 1.7 million euros have now flowed into the company. As a young company, we benefited a lot from BayStartUP's support in selecting suitable investors. We now let even more facts and figures speak for us when presenting our technology. Sparkasse Biberach and Walden International, an important VC from California that has already helped 116 companies to IPO, have come on board as investors. Walden is very influential and only invests in top technologies with great potential. They put us and the product through its paces. They are also a bridge to the American market, which we want to tap in the medium term. With the fresh capital, we are building up our serial production and sales of solar storage and starting development for other applications. This year we are also moving into a larger facility.

 

Photo: Jonas Glogger

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