Who invested in ion storage systems?

BELTSVILLE, Md., June 7, 2022 /PRNewswire/ -- Ion Storage Systems, Inc. (ION) announced the closing of its Series A funding round, exceeding its original target of $30 million. The company welcomed investments from Toyota Ventures, Tenaska, Bangchak Corporation and other investors, in addition to the investments from its lead investors.

What happened to ion storage systems?

BELTSVILLE, Md.-- ( BUSINESS WIRE )--Ion Storage Systems (ION) announced the initial closing of its $30 million Series A fundraising round led by Clear Creek Investments, VoLo Earth Ventures, and Alsop Louie Partners.

What is ion storage systems?

ION leverages a unique ceramic cell design that supports the use of current and next-gen cathode chemistries, promoting circularity and recycling, avoiding the issues and challenges of mining, and refining rare earth metals. Chart showing discharge capacity of ION Storage Systems' Solid-State pouch cell at 25°C and zero compression over 150 cycles.

Will ion build a battery cell manufacturing line in Beltsville MD?

The investment will enable ION to commission and qualify a battery cell manufacturing line at its Beltsville, MD headquarters capable of producing 10MWh/yr of its safe, energy dense and versatile solid state batteries.

What is ion battery technology?

The product of a materials-science-based approach, ION's patented solid-state lithium metal technology can offer a battery without cobalt, nickel, and other less sustainable materials offering a variable architecture of revolutionary 3-D, ceramic structure, built with rapidly scalable manufacturing in mind.

Can ion patented solid-state batteries sustain operations?

Thanks to its recent supply agreement with and investment by Saint-Gobain, ION is poised to manufacture its patented solid-state batteries at scale. ION is partnering with various government agencies to demonstrate the viability of ION's solid-state batteries to sustain operations in highly demanding environments.