Charged EVs | AM Batteries secures $25 million in Sequence A financing for its dry-electrode know-how


AM Batteries (AMB), a pioneer in lithium-ion dry-electrode know-how, has closed a $25-million Sequence A financing spherical led by Anzu Companions. Different traders embrace TDK Ventures, Foothill Ventures, Toyota Ventures, Zeon Ventures, SAIC Capital, VinFast, Doral Power-Tech Ventures, and Inventive Ventures.

AMB will use the funding to develop its workforce and speed up its commercialization efforts, advance its roll-to-roll manufacturing pilot line to a production-grade line for purchasers, and lengthen its dry-electrode manufacturing platform to new battery chemistries and applied sciences reminiscent of solid-state batteries.

Massachusetts-based AM Batteries was based in 2016. The corporate says its dry-electrode manufacturing know-how permits for the coating of Li-ion battery electrodes without having for dangerous solvents or energy-intensive evaporation. In comparison with the standard slurry casting method, AMB’s dry-electrode course of “utterly eliminates solvent restoration and electrode drying, which reduces power consumption of a battery plant by 50%, saves 40% of capital gear in electrode manufacturing and probably produces higher-energy, faster-charging and lower-cost lithium-ion batteries.”

To fabricate battery electrodes, AMB makes use of an electrostatic spray deposition approach by which the cathode and anode lively supplies are electrostatically charged and deposited onto metallic foil present collectors, that are then processed to their remaining state.

“One of many elementary issues for battery producers in the present day is refining manufacturing strategies to take away the poisonous solvents utilized in wet-coating of electrodes,” stated Yan Wang, AMB co-founder and CEO. “The progress we now have made at AMB is a significant step ahead in fixing this drawback.”

“EV OEMs, reminiscent of Tesla, Volkswagen and others, have already said the necessity for enhancements in battery manufacturing to deal with price, scale and environmental impression points,” stated Jimmy Kan, Accomplice at Anzu Companions. “We imagine the commercialization of AMB’s electrostatic spray know-how will instantly handle these business ache factors, whereas offering a platform for future battery efficiency and security innovation.”

Supply: AM Batteries
Photograph: Worcester Polytechnic Institute (WPI)


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