The U.K.’s Dyson and South Korean industrial giant Samsung — both bruised by setbacks in their efforts to master modern batteries — are members of unusually high-powered investment round in a little-known Massachusetts startup …
Ionic Materials has raised another $65 million to help the development and commercialization of its plastic solid-state battery tech, with funders including an alliance of auto giants Renault, Nissan and Mitsubishi and a relative newcomer Volta Energy Technologies.
Researchers have spent billions of dollars over decades trying to build a better battery, one that can store lots of energy and recharge thousands of times without breaking down or bursting into flames.
Ionic Materials Raises $65 Million to Speed Development of its Revolutionary Polymer Electrolyte for Solid-State Batteries
Woburn, Mass. – February 7, 2018 – Ionic Materials today announced it has secured $65 million in a Series C financing round from a leading group of financial and strategic investors. The strategic investors include companies from the battery manufacturing, consumer electronic and electric vehicle ecosystem who will be working with the company to speed the development of its solid polymer electrolyte battery material. These funds will fuel Ionic Materials’ accelerated growth, support its hiring plans and help the company meet the significant market demand for its novel polymer electrolyte.
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.
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 world’s largest automaker, Renault–Nissan–Mitsubishi, has launched a $1 billion corporate venture capital fund to focus on investments in “new mobility” including electrification, autonomous systems, network connectivity and artificial intelligence.
Though still a nascent technology, solid-state batteries are hot right now. Among the most prominent proponents is Toyota, which aims to commercialize solid-state batteries for electric cars by 2022.
The tech pioneer turned investor talks meat, batteries, and cement.
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Safe, long range electric vehicles become a reality
Longer lasting devices in new form factors
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