The Collection B funding comes on the heels of a $10 million contract from the US Authorities to develop the primary large-volume silicon oxide anode manufacturing facility within the Midwest
CHICAGO, February 14, 2023 — NanoGraf, a complicated battery supplies firm and enabler of the world’s most energy-efficient lithium-ion 18650 cells, right now introduced it has raised $65 million in an oversubscribed spherical in Collection B funding.
The funding spherical was collectively led by Volta Vitality Applied sciences and CC Industries (CCI) with participation from GIC, Emerald Know-how Ventures, Materials Affect, Arosa Capital, Nabtesco Know-how Ventures, and TechNexus. Current traders together with Hyde Park Angels, Evergreen Local weather Improvements, and Goose Capital additionally participated within the spherical. NanoGraf has beforehand raised a complete of $27 million in funding from a mixture of enterprise, angel and non-dilutive funding sources.
US battery provide chain points brought on by unprecedented market demand are widespread right now, and NanoGraf is dedicated to onshoring key strategic elements of the battery provide chain, accordingly. of President Biden’s Inflation Discount Act for clear vitality and infrastructure tasks. NanoGraf’s Collection B funding helps the onshoring of its silicon anode manufacturing in Chicago, in addition to the continued growth, manufacturing and provide of superior lithium-ion applied sciences.
“NanoGraf’s breakthrough silicon know-how additional demonstrates our dedication to increasing the vitality and energy efficiency traits of right now’s lithium-ion batteries for a sustainable electrical future. I’m extraordinarily proud to applied sciences and merchandise developed by our group over the previous 36 months,” stated Dr. Francis Wang, CEO of NanoGraf. “This funding not solely ensures a home provide of an vital strategic element of next-generation lithium-ion batteries, but additionally improves our nationwide competitiveness within the international vitality cupboard space.”
The Collection B funding announcement comes on the heels of two massive bulletins for NanoGraf. In November of 2022, the corporate was awarded a $10 million contract from the US Authorities to develop the primary superior silicon anode manufacturing facility within the Midwest. Only one month earlier than, in October of 2022, NanoGraf set a brand new business benchmark for probably the most highly effective lithium-ion 18650 cell, with greater than 20% increased vitality density than the main cells in right now’s business.
“Nanograf know-how guarantees to allow increased vitality density in lithium-ion batteries, in a method that makes use of silicon with nearly a drop-in of present battery manufacturing processes,” stated Jeff Chamberlain, CEO of Volta Vitality Applied sciences. “Volta is worked up so as to add Nanograf to its rising portfolio of superior know-how to be a part of an vital provide chain in superior battery and associated know-how. We’re equally inspired by the standard of the group of traders on this spherical of financing which was introduced right now.”
To study extra about NanoGraf, go to www.nanograf.com
NanoGraf is a complicated battery supplies firm whose patented silicon-anode know-how allows longer-lasting, higher-energy, and higher-power lithium-ion batteries. NanoGraf works with greater than 50 firms, together with a number of the main shopper electronics, dwelling equipment, and energy instrument manufacturers, and greater than 12 strategic companions in electrical mobility (from startups to Fortune 100s). NanoGraf is a spinout of Northwestern College and Argonne Nationwide Laboratory. For extra info, go to www.nanograf.com.
About Volta Vitality Applied sciences
Volta identifies and works with entrepreneurs and firms to unravel their most vital technical challenges whereas giving its strategic traders the chance to put money into and purchase probably the most promising know-how firms. Volta serves traders from numerous sectors of the vitality system, with a complementary strategic curiosity in figuring out breakthrough vitality storage-related know-how that permits the ever present adoption of each electrical automobiles and renewable energy technology.
Volta works to validate modern applied sciences and companies via collaboration with main establishments, together with via a analysis settlement with Argonne Nationwide Laboratory. Volta’s focus is on applied sciences and companies that influence purposes in transportation, the electrical grid, and transportable electronics. Volta is designed to create strategic benefits for the core companies of our company companions and supply monetary returns.
To study extra about Volta Inc, go to www.volta.vc
CCI, an affiliate of Henry Crown and Firm, is a Chicago-based Crown household holding firm. CCI invests, via late-stage enterprise and progress fairness, in companies targeted on environmental sustainability. The household enterprise was based in 1919 by Henry Crown and his brothers.
To study extra about CCI, go to www.ccindustries.internet