Battery company Ionblox increases Series B funding to USD32 million, supported by Lilium and partners

Ionblox, a next-generation lithium-ion battery company has announced a second close of its Series B round at an increased USD32 million including investments from original investors Lilium and Applied Ventures who were joined by Temasek and Catalus Capital. The company says it will use the increased Series B funding to scale its technology, develop advanced high-power cells for electric aviation, and prototype fast-charge cells for Electric Vehicles.

The press release reports “The company’s batteries are developed with high-performance lithium-ion cells that have pre-lithiated silicon dominant anodes. The batteries can address the most demanding use cases such as electric Vertical Take-off and Landing Aircrafts or eVTOL. Ionblox’s pre-lithiated Silicon anode technology enables a combination of up to 50% higher energy density, 5X more power, and an extreme fast charge of 10 minutes compared with conventional lithium-ion cells. Ionblox is currently producing its large format pouch cells of up to 50Ah on its pilot production lines.

“To commercialize its next-generation technology, Ionblox has received a development contract from USABC to develop low-cost, fast-charge electric vehicle batteries where its cell performance has been verified by Idaho National Lab and is also partnering with leading semiconductor equipment manufacturer Applied Materials.”

For more information

www.ionblox.com

(Image: Lilium)