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Follow-Up with SAX Power, the Cutting-Edge Battery Startup


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This blog post first appeared first on old medium publication (https://medium.com/startuprad-io), and was moved to this blog with the relaunch of our website in summer 2024.



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Our battery technology is totally different from the one currently on the market.Lei Shen, CEO, and Founder of Sax Power

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Our technology increases the life span of batteries up to 40%.Lei Shen, CEO and Founder of Sax Power

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Our battery technology directly generates alternating current, without inverter.Lei Shen, CEO and Founder of Sax Power

The Founder


In this interview, we are talking to Lei Shen, the CEO and Founder of the Ulm-based battery startup Sax Power https://sax-power.net/. Lei still does not have a LinkedIn profile 😊. She is originally from China, studied in Germany, and enjoyed the country so much, that she decided to stay. You can learn more about her in our older interview or on the company website.


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The Startup

As we interviewed the startup back in 2019, they were just in the development of their battery. They were looking at putting their batteries in cars and heavy machinery. Now they pivoted and first offer their battery technology for homes, to store solar energy. Startupers will see the pages they took out of the Tesla playbook. At the time of publication, the startup is producing the first industrial miniseries of its battery.

As a next step, they will use their batteries in boats. They also plan to start working in automotive in the next three years.


The 2019 Interview

We refer to an “old interview”, which we took at a local fair in Frankfurt in Winter 2019 and was published on June 20th, 2019. As always with startuprad.io, you have been way ahead of the curve if you watched back then, you are still if you have a look right now:





Our technology can also be used in stationary energy storage.Lei Shen, CEO and Founder of Sax Power

Venture Capital Funding

Sax just received an investment from Sparkasse Bieberach (Chancen Kapital Fonds), which is a local thrift or savings bank. They could also convince the California-based Walden International (http://www.waldenintl.com/index.aspx), which every tech geek should know from their investment in DJI, one of the world’s largest drone manufacturers.

The company is looking for investors to scale its production in 2022.

We try to arrange a project with a company producing heavy construction machinery.Lei Shen, CEO and Founder of Sax Power


The Video Interview is set to go live on August 26th, 2021 at 17.00 CET


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The Interviewer

This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:

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Transcript


[0:09] Your startup podcast and YouTube blog covering the German startups.


[0:14] With News interviews and Live Events.Hello and welcome everybody Nihao whining this is another interview startupradio hold the world’s first internet radio station for startups and tech companies as well as the authority on German startups today I haven’tstartup here that you guys may remember if you are a longtime subscriber to our podcast because we just realized the publication of the video was almosttwo years ago in June 2019 or we had a very very early look.

[0:54] Sax power differently I would like to welcome you here hey how you doing hi Joey yeah thank you very much yeah I’m doing fine thank you and you.I’m doing great thank you a little disclaimer here we have a summer it’s already very warm and outside there is a.Thunderstorm going on so maybe you hear some sounds and maybe some interruptions with very sorry about that but apparently it already passed over you because you guys are headquartered in with.Tell us a little bit about you and what are you doing other last.


[1:29] Um update we had was that you’re very young company you barely had a website back then right now you don’t have really social media channels.And so we will only link your website here and that you’re working on a groundbreaking technology for batteries.Especially for cars so give us a little update what happened in the last approximately two yearsyeah Joe it’s already 2 years girls that we met first time in Frankfurt and since that time that was June 2019 we continue to develop our newbattery packs withcompletion iron Battery Service and our technology is totally different from the current technology on the market.I want we have a battery packs which can give out auto- current.Without inverter so it seems it’s a very different technology compared with the current one or conventionally batteries they are need inverter to give out.Alternative current but we don’t need search and we can also.


[2:50] Increase the lifespan of battery up to 40% and we can also show.Jar add reduce the hearts at fire risk.Battery fact battery back that packs up to.


[3:07] 90% And so since two years we have developed our first products this is solar.Battery storage for home use and development is totally finished and now we start to.Produced the first smaller series and this year and put on the market the first prototype are already.Um delivered to the customers.And they all run very well so we are very happy that the first prototype give us very good feedback from the customers.And now in this house and we were start production of small series and go on to put the.


[3:56] Mass production next year and the German and European market and perhaps will also go to the US market in one year.


[4:05] My understanding is,first you took a few pages out of the Tesla Playbook because they are also covered user but they also startedwith hope solar systems and secondly can you explain it like to all the none Engineers including me what an inverter is and what it does but my understanding isif you don’t need it you save money as co-producer yes.Usually you know a batteries with lithium iron stairs they can only give out thiscurrent and you cannot drive any kind of machines with direct current so what you need is an inverter.Which can changed direct current to alternating current and then after that after the inverteryou get alternative current and then you can drive everything you can drive your frigerator you can drive your television and everything in your house ways.

[5:12] You are with electricity okay and also if you have electrical car and you need also.To charge it waste or tentative current and as you have electric boats.And you have also to drive your electric Komodo in the boat weighs auto- current so with current technology which are or under Market you need.


[5:43] Always inverter and inverter is quite expensive and inverter and say can also out of order 4.After a very short time and sometimes say are out of order after two or three tip three years so you weren’t there need a new inverter.But we have a new technology which is total right.


[6:08] No need of inverter and this is a we have a name for this new technology is a digitalAC better.And zero only a few technical teams in the whole world which gets its breakthrough in digital AC batteries.And I think we are now quite in the front of or is this technical teams around the world.


[6:35] We’ve been talking a lot about cars when we did the first day of you why did you stray away from cars andother heavy machinery for now.

[6:50] So we have tried to do the development for cars and also heavy machines at the beginning we also visitedvery famous manufacturer of cars in South Germany and then they told us that the development of or a car are.It’s a very long-term so you will need at a manufacturer for automotive silver needs at least five yearsto put a new technology in the construction in the planning of your,of Sarah calm Waters and then you will need another five years to get a certification of Rico types.For us it means we will take totally about 10 years to develop.


[7:42] A car with our technology and this is a tool and time for us and to Survivor so I think for us.It is very important that we can get the technology for us in the product which can bring us.Turned over there in very short time so that we can Survivor so we make the decisions that we were developing.

[8:10] The first Zola home use storage with our technology and then put.This product on the market very quickly and then this is a very good chance for us to improve the technology.And the beginning and make sure as and our technology can work very sure and successful after that I think we were start or what development in Automotivehmm how long do you think it may take until you are workingactively in automotive we plans out who plan to start.To access and Automotive in about three years actually we like to start.


[9:03] A system which our technology for E3 driven systems in electric boat just in one year.We will not start electrical drive and Automotive directly because the technical requirement is very high so we will startin the electrical Drive-In in a boat it is very easy for us to realize that and I think we will start out very quickly just next year and then perhaps it’s.Possible to start the electric dryer for electrical cars vehicles trucks in three yearswhat comes to mind are the electronic bicycles but I’m not sure if your battery is small enough to power one of them.


[9:56] Yes of course but the system for the electrical system for.Electrical bicycles is quite easy so they don’t need so high tech technical requirements.So at trece don’t need our system for electric bicycle because you know in electrical by cities they only need system which was very low voltage about 48.Voltage and x-rays this is too easy and our system is suitable for high voltage systems such like.230 Volt or electrical cars say increase the voltage.To 400 or or see you know portions that I increase the voltage to 800 Voyage so our system is excellent for such kind of.


[10:57] Electrical cars but it’sit will be too high for electric bicycles they don’t need our I see I know chance to power up toaster directly with your battery RK got bad and sincesince we talked last timeyou could also convinced a local investor as well as silicon valley-based VC Walden International to invest in your company what are you going to do with that money.


[11:27] We got to investment from.


[11:30] Venture captive from USA California Warden International and our cell from a local bank which back has Bieber actions and capitaland they both invest in our company we were use this money to develop.The following product now the first product as you know this is a solar home usually storage and then.Market feedback is very good and we will like to develop a new product with doubled capacity of Zen the first one the first one has only.


[12:08] Five kilowatt hour and this is suitable for European market but it looked likelittle bit too small for the US market you know the u.s. Americans they need a lot of electricity for everything they have big fridge and they have everythingat home boys Electricokay electricity is so the first product for 5 kilowatt hour storage is a little bit too small for the US market.So we were developed at a second spare step to 10 kilowatt hour storage for us and then we also develop electricaldrive for boat and of coursewe’ve got also request for Mega storage you know also in China USA and Europe Germany the people are looking for Mega storage.To storage electricity Co electricity from wind.From solar parks and we don’t talk about the small solar plants on.Home it’s as there are a lot of large solar plants in Germany.In the forest or or so near by the highway you see a lot of large solar plants and they need extra very large,storage.


[13:34] Cart Mega storage and our technical or technique is also very good for such kind of Mega storage.And this is or so the next step for us to develop you talking about development but my understanding is you are also working on Syriaproduction as well so meaning output in industrial quantities yes of course yes yesbecause the first product the development of first product is already finished so then now we just like to startproduction of small Series this yearand then if we are sure that the system can work very very successful we will start the production of Mars protection next year in 2022.Just from January where start mass production and then we will also need a captive working captive for the production and or cellfor the saves you know service is also quite expensive and then we will also go to International fail in Munich in October and there is a lot of work to do.


[14:49] I see I’m so so you guys are currently looking for investors to help you scale up next yearthe production as well as International expansion in my understanding is you look for good mechanical and electrical engineersand also for partners who actually want to use your batteries and Implement them into your product and as we set an electric toothbrushes at toasters they’re out.


[15:19] Yes exactly exactly chair yeah we are looking for a partnerbecause we got the first investment already from the warden International and Spark Castlepeople have transom capture and then we can scare our products production and also development very quickly and then we are looking at the first.Strategic partners for our expansion and then that will be very importantfor us to get the right partner who can bring us or so very interesting industry products and Industry projects and to development to developnew product together with us and my understanding is everything from a carand bigger leading to the energy storage needs when industrial nation convert their energy production from very reliable fossil fuel use Atomic fuels.To something that is not as predictable in terms of wind energy and solar energy that’s also waking work right.


[16:34] Yes of course yes our technology can be implemented and a lot of kinds of different machines and cars vehicles and different use ofor so stationary storage Etc so I we are just looking for all kinds of Partners.Not only in stationary storage chests or so in Dynamic productsthat means a what I had in mind when you started talking yes of course ships but also what I had in mind at the big constructionVehicles you have out there from the tracks to the cranes to the whatever is out there that’s also something you’re thinking about like heavyConstructor Machinery as well as for example heavy farming Machinery that will be what you’re looking for right now.


[17:30] Yes of course yes we will try to because I’m previously or sell engineer from leaping groupyou know repair brake group is famous in the construction machines so we are just also in contact with sleep are to try to.To arrange a project a common.Project in the construction machine that’s also Our intention to get the product or technology in Mobilewell by construction machines mobile working machinery yes.


[18:10] I remember leap here they’re very interesting becausethey are constructing like very heavy trucks you you know for example from from digging up coal or something like that like the really heavy ones that can go onto the can’t go onto streets like the big telescopic cranes but alsomost people will know them because they are also building refrigerators yes yes of course yes yeah Lipa is a very good company I have work in Lapel for very long times and repair is also a very and very Innovative company and I think perhaps we can work with sleep here together to get the first electricalmobile crane on the road that will be a very interesting project.


[19:03] We’re just talking about that but I’m still not sure if they they can work with us together but we work on thatit’s a leap out maybe one of the many many names because Germany is the country of hidden Champions many people have never heard about I just saw that they madesomething above 12 billion Revenue in 2019 so is that they are not the smallest company out.


[19:30] So we checked all the point of what you did sinceyou got investment you are going to scale up your production and Global level and you’re going to develop new products for which you need more.Engineers and Safe People anything important left we may have missed oh yes thanks Leahwe are just want to scare our to expand our business so we really need support from good Engineers I sent the first important its rally to get very good paper in our teams we have already very good engineers in our teamwe have engineer from construction machinery and we have also engineer from electrical engineers and but it’s 0 or not.


[20:20] Enough engineering teams shell we will say welcome to or.Ian Engineers yarn or out and electrical engineer or mechanical engineer or also sales experts we need everybody you need everybody okay okay it takes everybody checkeverybody who want to apply now go down here in the show notes there’s a link to the company’s website and there I do believe I contact you can basically say hey guys I heard you on startupradio I want to get hired,and that that should be all the D right yes great so thank you very much she see.


[21:04] And hope to have you back in like two years for another update yes of course yeah see you in two years bye-bye bye-bye.If you are a professional looking at the European startup scene Germany is a place you cannot miss Fortune.


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