In October, BostInno announced AM Batteries as one of the honorees for BostInno’s Fire awards. BostInno’s annual Fire awards are the publication’s premier awards that are meant to highlight the startups, growing companies and people that have had a banner year within the local ecosystem. The fifty honorees showcased success in raising funds, growing their Boston footprint and/or supporting the local community and innovative ecosystem.
AM Batteries, a pioneer in lithium-ion dry-electrode technology, has demonstrated significant momentum over the last twelve months, which include:
- $25M Series A: AM Batteries raised a $25M Series A round. This round was led by Anzu Partners and included participation from TDK Ventures, Foothill Ventures, Toyota Ventures, Zeon Ventures, SAIC Capital, VinFast, Doral Energy-Tech Ventures, and Creative Ventures. The financing will go towards AMB’s ability to expand its team and accelerate its commercialization efforts, advance its roll-to-roll manufacturing pilot line to a production-grade line for customers, and extend its dry-electrode manufacturing platform to new battery chemistries and technologies like solid-state batteries.
- Three Joint Development Agreements: AM Batteries signed three joint development agreements, two with top tier cell manufacturers and one with a global electronics manufacturer. One of these agreements being with Amperex Technology Limited (ATL), a world-leading innovator in lithium-ion battery production. AM Batteries and ATL partnering to develop solvent-free electrode manufacturing technology for Li-ion cell production.
- New AMB Facility: AMB signed a lease on a 33,000 square-foot facility that is five times larger than its current facility.
As a Chelmsford, Massachusetts company, AM Batteries’ technology completely eliminates solvent recovery and electrode drying, which can reduce the energy consumption of a battery plant and associated carbon footprint by more than 40% while additionally saving over 40% in capital expenditures in electrode manufacturing.
We are proud to be named a BostInno 2023 Fire Awards honoree in Cleantech Category alongside a talented selection of other companies.
