Planckian Raises Over €2.7 Million to Develop Quantum Battery

Insider Summary

• Planckian announced it had raised over €2.7 million in pre-seed funding.
• Eureka! Venture led the round, with the participation of CDP Venture, Exor Ventures and strategic angel investors.
• The company explains that the quantum battery makes use of quantum mechanics to manage energy in a more efficient way.

PRESS RELEASE — Planckian, the first company in the world to commit to developing a quantum battery, today announced it has raised over €2.7 million in seed funding in a round led by Eureka! Venture, with the participation of CDP Venture, Exor Ventures and strategic angel investors.

Planckian is the first joint spin-off of the University of Pisa and Scuola Normale Superiore (Italy). The company’s scientific endeavors are led by Marco Polini and Vittorio Giovannetti, experts in condensed matter theory and quantum information.

In the last decade, advances in quantum physics have led to new initiatives exploring whether quantum effects can be exploited in new technological domains other than computing, sensing and communication.

Quantum batteries are a new class of devices that utilize quantum mechanics to manage energy in a revolutionary and more efficient way. Planckian scientific leadership has pioneered breakthroughs in this area, from the first fundamental designs of solid state energy technologies governed by quantum mechanics.

Derived from these results and incorporating unique expertise in materials science and quantum information, the company is on a mission to push the boundaries of quantum technology into new realms by developing innovative technologies for energy management that rely solely on qubit based building science.

Qubits are at the basis of today’s quantum technology. They identify particles and physical systems, such as atoms, with two distinct states that display peculiar characteristics arising from their quantum mechanical properties. Qubit states are usually associated with different energy levels, low energy levels and high energy levels.

In a Planckian architecture, quantum effects can be harnessed so that the qubits can reach high energy levels “collectively” and in decreasing timescales as their number increases and, consequently, the energy to manage increases. Its development paved the way for the creation and adoption of future breakthroughs and sustainable energy technologies with unparalleled performance, governed by quantum mechanics rather than classical principles, such as electrochemistry.

“Interest in the new frontiers of quantum physics, particularly in a field called quantum thermodynamics, and the study of the unconventional properties of quantum materials, has never been stronger. We believe the time has come to develop new technologies for energy management that can exploit the unique properties of quantum mechanics,” said Marco Polini (CSO and Co-founder) and Vittorio Giovannetti (Executive Scientific Advisor and Co-founder). “We view this as a challenging and ambitious endeavor, which we are pleased to take advantage of the support of a global community of scientists and innovators.”

“Planckian pioneering efforts can lead to a new chapter in the quantum revolution” – commented Michele Dallari (CEO and Co-founder) – “Thanks to partnerships and support from extraordinary investors who share the same vision and ambition, we are able to accelerate the ongoing development of our ongoing efforts centered on new breakthroughs in energy management and advancing quantum technology. We are excited about the scientific and revolutionary journey ahead!”

Investor quote:

Anna Amati and Massimo Gentili, Partners at Eureka! Fund: “Planckian is working towards a new approach to artificial atomic manipulation that combines quantum mechanics in an exciting way with recent advances in thermodynamics. With recognized scientific excellence and deep technological expertise, the Planckian leadership is uniquely positioned to drive significant advances in quantum technology.”

Claudia Pingue, Head of Technology Transfer Fund at CDP Venture Capital SGR: “With Tech4Planet, an Italian Technology Transfer Center wholly dedicated to funding the best ideas in the field of environmental sustainability, we aim to stimulate researchers to turn their insights into successful startups . Planckian is a unique initiative: a team of scientists with an international background who are developing a new technological paradigm that combines efficient energy management with new methods for dealing with the physical systems underlying today’s quantum technologies.”