Investment accelerates scale-up of offerings for lithium-alternative sector of the booming grid and stationary battery market.
March 3, 2025 – Octet Scientific, Inc., a leading developer of specialty chemicals for safe, sustainable batteries, has secured a second investor in its current funding round. BOLD Ventures, a regionally focused qualifying venture capital fund, joins ICIG Investors, which led the initial investment.
With the round’s funds, Octet will scale up and advance its electrolyte solutions for non-lithium grid and stationary batteries.
Since its founding in 2017, Octet has designed electrolyte additives to help non-lithium battery providers develop more effective products and scale production more efficiently. With targeted, seamlessly integrated additions to electrolyte chemistry, Octet has helped customers achieve results including 20% capacity increase, 10% efficiency increase, and doubled operating life.
Focused until 2024 on additives for Zinc-based batteries specifically, Octet is now building on its offerings and methodologies to provide electrolyte chemistry supporting the full range of non-lithium grid and stationary battery firms.
“We’re honored to have partners like BOLD, a firm aligned with Octet both from a business perspective and a mission focus of bettering the lives of communities and individuals through technology,” explained Onas Bolton, Founder and CEO, Octet Scientific. “BOLD Ventures joining the round, following ICIG Ventures, is a testament to investor confidence in Octet’s electrolyte solutions as a true catalyst of energy infrastructure transformation in the coming years.”
“BOLD believes that batteries are a crucial feature in US energy independence and grid resilience,” added Danielle Blount, Partner, BOLD Ventures. “Octet, with proven solutions for lithium-alternative chemistries based on abundant materials and stable supply chains, stands to be a key player in that fast-growing energy ecosystem. We’re thrilled to have this Ohio-based company as our partner.”
Per McKinsey estimates, the market for grid and stationary energy storage is expected to reach at least $120 billion by 2030 at an annual growth rate of 29%.
This is BOLD’s first renewable energy investment and third investment in Ohio.
About Octet
Octet Scientific, Inc. is ensuring that tomorrow’s best batteries have their best electrolyte inside. Our OctoLyte® additive chemicals give batteries the high performance they need for higher capacity, better efficiency and longer cycle life in the future’s most demanding applications like grid storage, backup power and anywhere safe and high-performing energy storage is needed. Since 2017, Octet has been the electrolyte experts, creating new additives specifically to bring optimum performance to water-based batteries on the grid and in our businesses and homes. For more information visit www.octetsci.com.
About BOLD Ventures
BOLD Ventures is a regionally-focused qualifying venture capital fund, that is focused on investing in innovative technology that better the lives of individuals, enhance business outcomes, and improve society, led by diverse founders and teams. BOLD Ventures is partnered with BOLDER, Inc., a 501(c)(3) focused on supporting wellness initiatives for mental, physical, and financial health for startups and small businesses nationwide. With an acute focus on women, diverse, and veteran founders in low-to-moderate socioeconomic areas, we aim to provide resources and tools to founders to focus on themselves and their well-being so that they can focus on growing their businesses and maximizing returns for their investors. Learn more at BeBOLD.vc.