Ionblox says it has secured $32 million in a recent Series B funding round. The funds – provided by Lilium, Applied Ventures, Temasek, and Catalus Capital – will help the startup to scale its high-power cells. The batteries are developed with lithium-ion cells that have pre-lithiated silicon dominant anodes.
Ionblox says it recently raised $32 million in a Series B fundraising round. The money will be used to assist the business grow its high-power cells for electric aviation and prototype its fast-charge EV cells, which were provided by Lilium, Applied Ventures, Temasek, and Catalus Capital.
The batteries are made from lithium-ion cells with pre-lithiated silicon anodes. According to Ionblox, the technology enables a potent combination of 50% better energy density and five times more power than lithium-ion batteries, as well as fast-charge durations of 10 minutes. Idaho National Laboratory has validated the cell’s performance.
In 10 minutes, a rapid charge may power 80% of the battery’s capacity. This means that for a 300-mile vehicle, you may charge 240 miles in the time it takes to stop at a regular gas station. Idaho Labs confirmed an energy density of 315 Wh/kg in 12 Ah pouch cells. The battery can withstand 1,000 charge cycles at C/3 while keeping over 90% of its initial capacity.
The advancements in battery capability, according to the business, are particularly well-suited for cutting-edge electric aircraft such as Vertical Take-off and Landing Aircrafts (eVTOL), where weight must be minimised and power output increased. The large-format pouch cells with capacities of up to 50 Ah, which have applications in ground EVs, are now being manufactured on Ionblox’s pilot manufacturing line.
“The Ionblox technology provides one of the greatest performance cells for eVTOL aircraft currently available,” stated Yves Yemsi, Lilium’s chief operating officer. Yemsi’s company will strive to integrate the new battery technology into the Lilium Jet, its conforming aircraft.
“To date, test findings demonstrate that the technology will provide not just higher energy and power density for the Lilium Jet at launch, but also very good ageing performance,” Yemsi stated. Lilium stated that it will assist the technology’s continuing improvement and industrialization.
The United States Advanced Battery Consortium awarded the battery provider a development contract to develop low-cost, fast-charge EV batteries. Ionblox is also working with Applied Materials to deliver semiconductor equipment.
This second Series B investment round follows a $24 million investment round in October 2022. Founded in Fremont, California in 2017, as Zenlabs, Ionblox has more than 40 issued patents for pre-lithiation for all types of silicon-based anodes.
Because of their high energy per unit mass compared to other electrical energy storage methods, lithium-ion batteries are now employed in the majority of portable consumer gadgets such as cell phones and laptops.
At Truoosh, we’re here to help you navigate this overwhelming world of stuff. All of our market picks are independently selected and curated by the editorial team. All product details reflect the price and availability at the time of publication. If you buy something we link to on our site, Truoosh may earn commission.