Ionic Materials gathers $65m for solid-state battery technology
The Silicon Valley-based battery venture Ionic Materiels has raised 65m dollars from investors including Alliance Ventures by Renault-Nissan-Mitsubishi in order to expand production of its solid-state battery technology. The concept revolves around using a polymer material.
The new batteries shall compete with current lithium-ion battery technology by using a polymer electrolyte material to build solid-state alkaline batteries.
Other key properties of the battery technology include up to 1.3 mS/cm at room temperature, a high voltage capability of up to 5 volts, high elastic modulus and the ability to conduct multiple ions, among other technical improvements.
Plans include to begin manufacturing the batteries en masse in a production facility to be constructed in Massachusetts, USA. While the batteries are not yet available, they will face stiff competition once they enter the market, as lithium-ion battery prices continuously drop amid the increasing demand for battery technology from automotive companies.
The exact participants in the economic venture are not known, but the announcement from the Renault-Nissan group last year is certainly connected to the corporate consortium. Bloomberg also counts Alliance Ventures, the investment arm of Renault-Nissan-Mitsubishi among the investors.
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