Coreshell Secures $24 Million for Next-Gen Battery Anodes
Coreshell Secures $24 Million for Next-Gen Battery Anodes
Battery technology company Coreshell recently announced a significant financial boost of $24 million aimed at revolutionizing lithium-ion battery anodes. This strategic funding round is designed to accelerate the company's production capabilities and enhance the performance of electric vehicle (EV) batteries, promising exciting developments for global automakers looking to innovate.
Fueling Growth with Key Partnerships
The funding round was anchored by Coreshell's strategic partner, Ferroglobe PLC (NASDAQ: GSM), known for its leadership in producing silicon and ferroalloys. Additional backing came from Zeon Ventures and other returning investors, including Lane Ventures, Entrada Ventures, Foothill Ventures, Helios Climate Ventures, Translink Investment, Trousdale Ventures, and Asymmetry Ventures. These collaborations showcase strong confidence in Coreshell's mission to transform battery technology.
Building Manufacturing Capability
With this funding, Coreshell will enhance its newly-established 4 MWh manufacturing facility, with plans for an additional 100 MWh plant in development. This scaling will enable Coreshell to meet rising demand and deliver commercial samples of its innovative 60 Ah battery cells to automobile manufacturers starting in 2025.
Focused on Sustainable Solutions
Jonathan Tan, CEO of Coreshell, highlighted that this investment marks a crucial milestone in their journey to deliver commercial samples to interested automakers, many of whom have already tested their low-cost metallurgical silicon anodes with promising outcomes. The CEO noted that with the EV industry's rapid growth, it is essential to address supply chain resilience and cost efficiency to overcome barriers to adoption. By replacing graphite with domestically-sourced metallurgical silicon, Coreshell aims to enhance sustainability and cost-effectiveness in battery production.
Strategic Partnerships Boost Innovation
Ferroglobe plays a pivotal role in Coreshell's success by providing the essential micrometric silicon for its innovative battery technology. Benoist Ollivier, Chief Technology & Innovation Officer of Ferroglobe, expressed confidence in Coreshell's breakthrough technology after extensive validation and lab testing. The partnership emphasizes the importance of scaling a domestic supply chain to ensure market success.
Revolutionizing Battery Chemistry
Coreshell has undertaken the ambitious task of unlocking the potential of metallurgical silicon, resulting in battery chemistries that are more efficient and cost-effective. Their innovative approach has led to batteries that not only extend the driving range by over 30% but also reduce costs by up to 25%, making it a game-changer in the industry.
Performance Metrics to Note
Upcoming presentations at the 2025 International Battery Seminar will feature vital performance metrics of Coreshell's battery cells, showcasing their advantages:
- Energy Density: Cells with 80% silicon anode demonstrate 30-40% higher energy density compared to traditional graphite batteries.
- Cycling Performance: Prototype cells achieved over 475 cycles while maintaining over 90% of original capacity, with production cells expected to exceed 1,000 cycles.
- Fast Charging: The battery can charge from 10% to 80% in under 15 minutes consistently, offering outstanding fast-charging capabilities.
- Safety: Unlike many silicon technology alternatives, Coreshell's anode batteries maintain reliable safety metrics comparable to traditional batteries.
About Coreshell
Headquartered in California, Coreshell is dedicated to providing high-performance silicon anodes, utilizing proprietary technology that unlocks the vast potential of metallurgical silicon. Their innovative solutions aim to support the transition to clean energy by partnering with top producers and manufacturers, thus contributing significantly to sustainable battery technology.
Media Contact
Nadia Jamshidi
SOURCE Coreshell Technologies
Frequently Asked Questions
What is the purpose of Coreshell's recent funding?
The funding aims to scale the production of their innovative lithium-ion battery anodes and meet the increasing demand from global automakers.
Who are Coreshell’s strategic partners?
Coreshell’s strategic partners include Ferroglobe PLC and other venture firms like Zeon Ventures and Lane Ventures.
What makes Coreshell's battery technology unique?
Coreshell uses 100% domestically-sourced metallurgical silicon to replace traditional graphite, significantly improving cost efficiency and sustainability.
When will Coreshell start delivering samples to automakers?
Commercial samples of their 60 Ah battery cells are scheduled to be delivered to automakers in 2025.
What are the performance features of Coreshell's batteries?
Coreshell's batteries feature high energy density, fast charging, and enhanced cycling performance, positioning them as a leader in battery technology.
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