AM Batteries Raises $30M in Series B Funding
Summary
AM Batteries, a Chelmsford, MA-based company working in the field of lithium-ion dry-electrode technologies, raised $30M in Series B funding. The company intends to use the funds to accelerate commercialization of its dry battery electrode technology. Led by CEO Lie Shi, AM Batteries focuses on throughput dry-electrode manufacturing for lithium-ion batteries. Compared to the conventional slurry-casting approach, its technology eliminates solvent recovery and electrode drying, which can reduce the energy consumption of a battery plant by more than 40% and save up to 40% in capital expenditures in electrode manufacturing, while reducing the plant’s carbon footprint by nearly 40%. AM Batteries’ future-proof manufacturing technology can be leveraged for multiple types of battery-electrode fabrication.