AM Batteries, a Boston, MA-based lithium-ion dry-electrode technology company, raised $25M in Series A funding.
The round was led by Anzu Partners, with participation from TDK Ventures, Foothill Ventures, Toyota Ventures, Zeon Ventures, SAIC Capital, VinFast, Doral Energy-Tech Ventures, and Creative Ventures.
The company intends to use the funds to expand its team and accelerate its commercialization efforts, advance its roll-to-roll manufacturing pilot line to a production-grade line for customers, and extend its dry-electrode manufacturing platform to new battery chemistries and technologies like solid-state batteries.
Led by CEO Yan Wang, AM Batteries focuses on dry-electrode manufacturing for lithium-ion batteries. It leverages technology that eliminates solvent recovery and electrode drying, which reduces energy consumption of a battery plant, saves capital equipment in electrode manufacturing and produces higher energy, faster charging and lower cost lithium-ion batteries. AMB technology can be used for other types of battery electrode fabrication.
FinSMEs
26/10/2022