By Brian Eckhouse
‎February‎ ‎7‎, ‎2018‎ ‎

Ionic Materials Inc., a battery-material developer backed by Silicon Valley luminary Bill Joy, raised $65 million to build a production line and commercialize its technology.

Investors in the Series C funding round include Joy and Alliance Ventures, a venture capital company comprising automakers Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp. Ionic declined to identify other participants.

Ionic is developing a polymer electrolyte material for solid-state alkaline batteries, a concept that will compete with the dominant lithium-ion technology. Alkaline may offer advantages that appeal to the electrical, automotive and consumer electronics industries, notably lower costs and improved safety in sensitive settings such as airplanes, Joy said.

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