Holland, Mich. 05/14/2020
Jolt Energy Storage Technologies, a Holland-based sustainable energy-storage company, was awarded a $250,000 grant from GCxN, a program through the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in partnership with Shell Global. Along with two other cleantech companies, Jolt was selected for its work in clean, grid-scale energy storage solutions.
The GCxN program is also referred to as Shell GameChanger™ Accelerator Powered by NREL. The program aids cleantech startups in accelerating the commercialization of their products while reducing the necessary investment risk. Accepted companies receive up to $250,000 in technical assistance with opportunities for continued research and channel support.
Jolt produces energy storage technology that uses organic compounds for more efficient flow batteries. The batteries maintain the same large-scale storage capabilities as lithium ion at a lower cost, providing effective, long-lasting clean energy storage at a better price.
“Adequate energy storage is one of the primary barriers to the adoption of renewable energy sources. The sun isn’t always shining and the wind isn’t always blowing, so we need ways to adequately store the energy to fill the gaps in production. Jolt is working to fill those gaps with an efficient, clean, high-capacity energy storage solution,” said Jack Johnson, Jolt co-founder.
According to Johnson, Jolt’s technology has “the potential to be a true game changer to enable stable, low-cost renewable energy on a global scale.”
“The startups that have been selected for the third GCxN cohort will help us achieve a lower-carbon future,” says Haibin Xu, Shell’s GCxN program manager. “They are looking at the full life cycle of solar and storage performance, and their technologies have the potential to drastically improve functionality and meet a wide range of real-world needs.”
Jolt has also partnered with Lakeshore Advantage through their SURGE program for local West Michigan technology startups. SURGE helped the company secure SmartZone funding through the Michigan Economic Development Corporation.
“Jolt’s success is a testament to their leadership, collaboration and thoughtful approach to solving an advanced energy storage problem and disrupting the industry along the way,” said Amanda Chocko, Director of SURGE entrepreneurial services at Lakeshore Advantage. “We look forward to what’s next for the Jolt team in this highly selective accelerator program and lead the standing ovation for their achievements for their business and sustainable energy to date.”
About Jolt Energy Storage Technologies
Jolt was founded in 2014 by Tom Guarr and Jack Johnson. Jolt aims to use molecular design principles to create organic compounds that will revolutionize the field of energy storage. Jolt is located in the Michigan State University Bioeconomy Institute, where Guarr serves as Director of the Organic Energy Storage Laboratory.