By Kelly J. O’Brien – Technology Reporter, Boston Business Journal
Feb 7, 2018, 2:55pm EST Updated Feb 7, 2018, 3:32pm
Woburn-based Ionic Materials Inc. has raised a $65 million Series C round of investment to commercialize a polymer it says could make batteries safer, cheaper and longer-lasting.
The Renault-Nissan-Mitsubishi alliance, which last month launched a $1 billion venture investment fund, is a major investor in the round. The alliance of automakers said it would also work with Ionic Materials on R&D efforts.
Ionic Materials is targeting its technology toward battery makers in the electric vehicles, consumer electronics, and grid storage markets. The firm said other “financial and strategic investors” participated in the funding, as did Bill Joy, the Sun Microsystems co-founder who was an early backer of Ionic Materials.