Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
03.16.21
A team of Pillsbury lawyers represented Noon Energy Inc., developer of battery technology for long-duration energy storage, in the closing of a $3 million Seed stage investment. Prime Impact Fund led the round and was joined by At One Ventures, Collaborative Fund and Xplorer Capital.
Noon's battery technology is being designed to provide long-duration stationary storage at a 10x lower storage cost than lithium-ion batteries, enabled by its earth-abundant materials and simple reaction chemistry. Additionally, its high energy density will enable longer-range electric ships, trucks and other vehicles.
Noon Energy develops breakthrough ultra-low-cost battery technology to provide high energy density long-duration storage with the unique fundamental properties needed to enable 100% renewable energy. It will make intermittent solar and wind power available 24/7 year-round at a lower cost than conventional fossil fuel generation. Noon’s core technology was also on-board NASA's Mars Perseverance rover which landed on Mars in February, 2021 and was used to produce oxygen for the first time by electrolysis of the CO2 atmosphere on Mars.
Read more about the transaction here.
The Pillsbury team was led by Silicon Valley-based Corporate partner Steve Wurzburg and included associate Lana Persaud.