Meine Electric, a Chennai-based clean energy startup focused on iron-air long-duration energy storage, has raised $750,000 (around ₹6.7 crore) in a pre-seed funding round to accelerate the development of its next-generation battery systems.
The round was backed by Antler, Rebalance, Venture Catalysts, gradCapital, and AIC-AU Incubation Foundation, along with participation from angel investor Alexander Hogeveen Rutter.
From Lab Prototypes to Grid-Scale Pilots
Meine Electric said the fresh capital will be used to transition from laboratory-scale prototypes to pilot-ready iron-air battery systems. The company is currently developing a multi-kilowatt, grid-connected prototype, which will be followed by larger pilot installations over the next phase.
As part of its long-term roadmap, Meine Electric aims to deliver turnkey, containerised iron-air battery solutions by 2027, designed to support both utility-scale and commercial energy needs. A portion of the funding will also be allocated towards strengthening the company’s engineering team, expanding research infrastructure, and building deeper partnerships with Independent Power Producers (IPPs) and energy-intensive commercial and industrial (C&I) customers.
How Iron-Air Batteries Work
Founded in 2023 by Priyansh Mohan and Stuti Kakkar, Meine Electric is developing iron-air batteries that use iron, air, and water as core materials.
The technology is based on a reversible rusting process. During discharge, iron reacts with oxygen from the air to form rust, releasing electricity. During charging, the reaction reverses, converting rust back into metallic iron. This chemistry enables long-duration energy storage using abundant, low-cost materials, making it a promising alternative to lithium-based systems.
Enabling Long-Duration Energy Storage
Unlike conventional lithium-ion batteries, which typically provide power for only a few hours, Meine Electric’s iron-air batteries are designed to deliver 16 to 24 hours of continuous energy storage. The system can also be fully charged within eight hours, making it suitable for balancing renewable energy supply and demand.
Long-duration energy storage is increasingly seen as critical for enabling higher penetration of solar and wind power, which are inherently intermittent. Iron-air batteries offer a potential solution for storing excess renewable energy and dispatching it when needed, improving grid reliability.
“India will win the energy transition when clean power becomes dispatchable, not intermittent,” said Priyansh Mohan, co-founder and CEO of Meine Electric. “Our focus over the last three years has been on making iron-air chemistry stable and repeatable. Now, we are proving it for grid and C&I power requirements.”
Investor Confidence in Foundational Energy Infrastructure
Investors highlighted Meine Electric’s combination of deep scientific research and practical system execution as a key reason for backing the startup.
“What stood out to us was the depth of electrochemical research paired with strong system-level execution,” said Gowri Shankar Nagarajan, Associate Partner at Antler. “We back founders who are building foundational infrastructure for the future, and Meine Electric fits that vision.”
Scaling Operations from Chennai
Meine Electric currently operates out of a 5,000-square-foot facility in Chennai, where it conducts battery development, testing, and system integration. With the new funding in place, the company plans to accelerate its path toward grid-scale deployment and position iron-air storage as a backbone technology for a renewable-first energy future.
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape.