Battery maker SolidEnergy has secured $12 million in Series B funding. An unnamed “major U.S. auto company” led the round with participation from other investors that included SAIC and Applied Ventures LLC.
WALTHAM, Mass.–(BUSINESS WIRE)–SolidEnergy, the developer of the “anode-free” battery delivering ultra high energy density and safety with 1200 Wh/L and 400 Wh/, announces today that it has raised $12M in a Series B round. The round was led by a major U.S. auto company, and syndicated by SAIC, Applied Ventures, LLC, and all existing investors who participated in the Series A round.
“Our new strategic investors are very experienced in battery investments and have very high standards. We are all very excited for the high energy density that our anode-free batteries have demonstrated in practice, not just on paper,” said Qichao Hu, SolidEnergy’s Founder and CEO. “Strategic investments will help us build an ecosystem around our anode-free battery by establishing partnerships with equipment suppliers, battery manufacturers and battery end users. We are humbled by the challenges and are very excited to play a role in the electrification of transportation and reduction of greenhouse gas emission worldwide.”
SolidEnergy revolutionized portable energy storage with the introduction of the “anode-free” lithium metal battery in 2014. SolidEnergy’s two material platforms, dual-layer electrolyte and ultra-thin lithium metal anode, provide transformational energy density and safety across all rechargeable lithium batteries and can be seamlessly integrated into existing Li-ion manufacturing capability. The final applications include drones, watches & wearables, smart phones, and electric cars.
SolidEnergy was founded in 2012 during the turmoil of the lithium battery industry meltdown. Its mission is to power people’s lives, whether they are communicating with loved ones on a phone or driving with family in an electric car.