Ambri Inc.
| Company type | Private |
|---|---|
| Industry | Energy storage, Battery manufacturing |
| Founded | January 1, 2010 in Massachusetts, United States |
| Founder | Donald Sadoway, David Bradwell |
| Headquarters | Marlborough , United States |
Key people | Donald Sadoway (founder) |
| Products | Molten-salt batteries for renewable energy storage |
Number of employees | 37 (2016) |
Ambri Incorporated is a U.S.-based startup specializing in the development of molten-salt batteries designed for energy storage solutions in renewable wind and solar power systems. As of 2016, the company had a workforce of 37 employees.
History
The company was established in 2010 under the name Liquid Metal Battery Corporation to bring to market liquid-metal battery technology pioneered by Professor Donald Sadoway and Dr. David Bradwell at MIT. It adopted the name Ambri in 2012. Initial financing rounds in 2012 and 2014 generated $40 million from investors such as Bill Gates, Khosla Ventures, Total S.A., and GVB.
In September 2015, Ambri postponed its commercial battery launch and reduced its staff by 25%. By the following year, the company focused on developing a calcium-antimony battery variant.
Ambri secured a contract in 2020 with TerraScale to provide a 250 MWh energy storage system for a data center located in Churchill County, Nevada, contributing to expansive clean energy infrastructure initiatives.
In 2021, Reliance Industries declared a $144 million investment in Ambri alongside Bill Gates and other investors, aiming to establish production and distribution facilities within India.
Despite these investments, Ambri announced in September 2023 potential layoffs affecting 105 employees unless additional funding was obtained by November.
In May 2024, Ambri filed for Chapter 11 bankruptcy protection, attributing the move to exhausted investor capital from backers associated with Bill Gates and John Paulson. The company intends to continue operations throughout restructuring while pursuing a sale to noteholders.
An auction set for June 2024 under the jurisdiction of the US Bankruptcy Court for the District of Delaware will enable noteholders to submit bids up to $38 million by applying debt offsets. Should no superior bids be received by June 20, control of Ambri will transfer to noteholders, resulting in the elimination of equity stakes held by other investors and founder Donald Sadoway.
See also
- 2010 establishments in Massachusetts
- American companies established in 2010
- Companies that filed for Chapter 11 bankruptcy in 2024
- Electronics companies of the United States
- Technology companies based in Massachusetts
- Privately held companies based in Massachusetts
- Battery manufacturers
- Energy companies established in 2010
- Marlborough, Massachusetts