Alternō, a Vietnamese startup that provides thermal energy storage solutions using sand battery technology, has closed a Series A funding round, while Vietnamese electric vehicle manufacturer VinFast has signed a deal to collaborate with four partners in the Philippines.
Alternō closes Series A funding round
Alternō, a Vietnamese startup that provides thermal energy storage solutions using sand battery technology, has closed a Series A funding round for an undisclosed amount.
The funds will be used to expand its sand battery technology that decarbonises the heat produced in various industrial applications.
The financing was led by UntroD Capital Asia, with strategic backing from Antler, one of Alternō’s earliest and largest institutional investors. The Asian Development Bank Ventures (ADB Ventures) also joined the round, signalling growing global investor confidence in scalable decarbonisation solutions.
Last year, the startup had raised $1.5 million co-anchored by Singapore-based early-stage investor The Radical Fund and Vietnamese venture capital firm Touchstone Partners. Antler, Impact Square, and Glocalink also participated in the round.
The company’s growth to date has been supported by early institutional backing from Antler, which played a pivotal role in Alterno’s initial development, it said in a statement on Tuesday.
Founded in 2023, Alternō is a climate-tech startup based in Singapore with R&D and manufacturing in Vietnam. The company develops sand-based thermal battery systems that deliver high-temperature, zero-emission heat for industrial and agricultural applications.
Alternō’s patented thermal energy storage system—known as a sand battery—utilises locally available, low-cost materials like sand to store heat at temperatures up to 600°C, with minimal thermal loss and zero emissions during operation.
Sand’s exceptional thermal stability and ultra-low cost make it one of the most practical and scalable materials for high-temperature heat storage.
VinFast collaborates with four Philippine partners
Vietnamese electric vehicle manufacturer, VinFast, has officially signed collaboration agreements with four partners in the Philippines: Goodyear Philippines, Tire King and Rubber Products, Power Tread Services, and Marcjan Cavite.
These partnerships are integral to VinFast’s ambition to establish over 100 authorised service workshops across the Philippines by 2025.
The newly signed Memoranda of Understanding (MoUs) and Service Level Agreements (SLAs) will enable VinFast to work with these experienced partners, who operate service centres throughout the Philippines, to deliver maintenance, repair, and electric vehicle care services that align with the company’s global standards.
In particular, VinFast and Goodyear Philippines aim to set up 50 authorised service workshops by 2025. Meanwhile, Marcjan Cavite plans to open eight workshops, while Tire King and Power Tread each intend to establish seven.
As part of this collaboration, VinFast is dedicated to supporting its partners through personnel training programmes, technical consultations, and knowledge sharing, to expand the network of authorised service workshops rapidly.
These latest agreements, along with previous MoUs signed with JIGA and Motech, will serve as a vital foundation for VinFast to accelerate the growth of its electric vehicle ecosystem in the Philippines, ultimately enhancing the after-sales experience for its customers.
