Feon Energy, a Woburn, MA-based battery electrolyte startup spun out of Stanford University, raised $6.1M in Seed funding.
The round was led by Fine Structure Ventures, with participation from Eight Roads, Foothill Ventures, MassVentures, EPS Ventures, and Valkyrie Fund.
The company intends to use the funds to expand its R&D team, scale up its high-throughput molecular discovery platform, and accelerate commercial engagement with battery and automotive players.
Led by CEO Wenxiao Huang, Feon Energy offers a platform approach to create new electrolyte molecules and formulations designed for battery chemistries like lithium-metal and cobalt-free ultra-high-voltage lithium-ions. Their non-flammable liquid electrolyte solutions enable batteries with higher energy density, improved safety, lower cost, and supply chain resilience.
Its electrolyte platform technology offers advantages, including the ability to simultaneously address multiple future chemistries, integration into existing battery manufacturing processes for fast scaling, and a molecular-level understanding that enables continuous innovation.
Since launching in late 2022, Feon has achieved key milestones. As its first product, Feon has developed lithium-metal batteries with energy densities over 400 Wh/kg, 50% higher than today’s lithium-ion batteries. It has begun to ship such pre-A samples to leading automotive, aviation, and consumer electronics OEMs. These lithium-metal cells have obtained UN 38.3 safety certification – an international standard for safely transporting lithium batteries. Meeting UN 38.3 requirements through rigorous third-party testing confirms that Feon’s batteries can withstand extreme conditions like short-circuiting, crushing, vibration, forced discharge, and exposure to high temperatures.
FinSMEs
28/06/2024