Deep Tech Briefing #13: 🔋 Sodium-ion Batteries Market Shifts; 🤖 AI Act Gets Final Green Light; 🌋 Water-Independent Geothermal Technology; 🧬Precision in Antibody Engineering and more..
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Actionable Insights in Today's Brief
Navigating EU AI Compliance: With the EU's AI Act now approved, companies must strategize to meet stringent requirements, balancing innovation with ethical standards.
Battery Market Shifts: Sodium-ion batteries offer a cheaper, efficient alternative to lithium-ions, ideal for the burgeoning electric vehicle and storage markets.
Geothermal Energy's New Horizon: XGS Energy innovates with water-independent systems, promoting sustainable, around-the-clock energy—great for business and the environment.
Enhancing Cybersecurity with AI: Averlon integrates AI to target and mitigate evolving cyber threats, providing a more secure digital environment for businesses.
Precision in Antibody Engineering: LabGenius raises £35M to advance its EVA™ platform, which uses AI and robotic automation to refine antibodies, minimizing toxicity in cancer treatments.
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🔸 Sodium-ion batteries are drawing significant investor confidence
As global battery demand is set to surge from nearly 1,000 GWh annually by 2025 to over 2,600 GWh by 2030, the emergence of sodium-ion (SIB) technology marks a significant shift. The demand for lithium has soared due to the burgeoning interest in electric vehicles, with projections suggesting it will escalate from about 700 GWh in 2022 to approximately 4.7 TWh by 2030. Sodium-ion technology, presenting a cost-effective alternative to the dominant lithium-ion batteries (LIB), represents a fundamental shift in the energy storage landscape.
Sodium-ion batteries are gaining considerable investor confidence. A prime example is Bedrock Materials, which recently secured $9 million in a financing round led by Trucks Venture Capital, Refactor Capital, and Version One Ventures, complemented by an incentives package from the Illinois state government.
Founded in 2023 by Rafael Vila, a battery scientist from Stanford University, and Spencer Gore, a former Tesla battery industry expert, Bedrock Materials is initially focusing on starter batteries for fossil fuel-powered cars and trucks. This aligns with the 'disrupt from the bottom' strategy, where a cheaper, albeit initially less efficient, product is introduced into a stagnant market and gradually improved.
The rising interest in sodium-ion batteries is fueled by their promise to offer a cost-effective and sustainable alternative to traditional lithium-ion batteries, which are experiencing unprecedented demand due to the electric vehicle boom. Moreover, these batteries can be integrated into the existing lithium battery manufacturing processes.
However, sodium-ion batteries face certain technical challenges compared to their lithium-ion counterparts. In fact, the reduced energy density impacts their performance at the cellular level, leading to hesitancy from automakers due to initial performance disparities.
Nevertheless, while sodium-ion batteries are not without their hurdles, their potential to provide a more sustainable and cost-effective solution makes them a promising player in the future of energy storage.
🔸Water-Independent Geothermal Technology Could Provide Baseload Power, Operating 24/7

Geothermal energy has always held promise as a sustainable power source, but its journey has been marred by challenges in scalability and environmental impact. However, a California-based company, XGS Energy, is pioneering a new path with its groundbreaking water-independent geothermal technology.
XGS Energy this week secured $20 million in Series A funding, led by Valo Ventures and VoLo Earth Ventures, underscoring the commercial potential and burgeoning interest in geothermal advancements. Unlike traditional geothermal systems that require significant water resources, XGS Energy's method utilizes thermally conductive materials to harvest heat directly from rocks at temperatures of 250°C or higher. This process involves drilling a single directional well where heat is absorbed by these materials, subsequently heating water within a closed-loop system. The heated water is then pumped to the surface, either for direct use or electricity generation.
This method not only addresses water scarcity issues but also reduces operational costs and extends the lifespan of geothermal projects. XGS Energy is set to demonstrate their technology in California, at a site that was originally drilled in the 1980s but later abandoned.
Josh Prueher, CEO of XGS Energy, explained, "We designed the XGS system to overcome the core barriers preventing geothermal energy from reaching the same scale as solar, wind, and battery storage."
The potential market impact of this technology is immense.
Scott Tierney, Managing Partner at Valo Ventures, emphasized, "As the power grid seeks to meet dramatic new demand growth while continuing to reduce carbon emissions, XGS’ ability to provide 24/7 carbon-free energy is invaluable."
In fact, energy companies have long been drawn to geothermal power for its ability to deliver consistent, round-the-clock energy, unlike intermittent wind and solar power. Despite its promise, the geothermal sector has faced slow growth due to the scarcity of suitable sites that meet all regulatory requirements. Now, however, there is a renewed momentum for advanced geothermal projects. Companies like Fervo Energy, Eavor, and Quaise Energy are making significant strides, securing substantial funding and leveraging advanced technologies to push the boundaries of what geothermal energy can achieve.
🔸AI Act Gets Final EU Green Light: Challenges and Opportunities for the Deep Tech
This Tuesday, the European Union member states