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Search Results Found For: "24M"

Volkswagen Group acquires 25% stake in 24M, will use its SemiSolid battery platform

Volkswagen Group and Cambridge, Massachusetts-based battery developer 24M Technologies have formed a strategic partnership under which VW will manufacture EV batteries using 24M’s SemiSolid platform. VW has acquired a 25% stake in 24M, and will establish a wholly-owned subsidiary that will collaborate with 24M to develop SemiSolid battery cell production technology for automotive applications. “The… Read more »

24M raises $56.8 million to commercialize SemiSolid battery technology

24M has raised $56.8 million in Series E funding to commercialize its SemiSolid manufacturing process and expand its technology development programs for grid storage and EV applications. The company says its SemiSolid electrodes use no binder, mixing electrolyte with active materials to form a clay-like slurry with unique attributes. As a result, the 24M process… Read more »

FREYR and 24M to collaborate on battery cell production

FREYR and 24M have signed an agreement to use 24M’s SemiSolid lithium-ion battery platform technology in FREYR’s planned facilities in Norway. FREYR is targeting a production capacity of over 40 GWh of scalable, modular battery cells via partnership-based strategies in both grid and electric mobility markets. “24M has fundamentally redesigned the traditional LIB cell technology… Read more »

24M surpasses 250 Wh/kg on the road to 400+

Battery company 24M has announced that it has developed commercially viable Nickel Manganese Cobalt (NMC) cells with an energy density above 250 Wh/kg. The company has also delivered similar NMC cells with an energy density above 280 Wh/kg to an industrial partner. 24M’s new NMC cells were built with the company’s SemiSolid lithium-ion battery design,… Read more »

24M unveils Dual Electrolyte System for next-generation cells

Battery company 24M unveiled its Dual Electrolyte System at the International Battery Seminar & Exhibit last month in Florida. According to 24M, the system permits cells with compositionally distinct electrolytes to be manufactured at scale, enabling next-generation cell chemistries. These cells can provide energy densities exceeding 350 Wh/kg as well as improved cycle life and… Read more »

24M raises $21.8 million to accelerate SemiSolid battery development

Cambridge, Massachusetts-based 24M has raised $21.8 million in Series D funding, which it will use to accelerate production of its SemiSolid lithium-ion cells for the EV market. Ceramics manufacturer Kyocera and global trading firm Itochu led the financing round. Previous investors, including North Bridge Venture Partners, also participated. 24M introduced its SemiSolid battery design in… Read more »

24M delivers first production-size semisolid battery cells

Massachusetts startup 24M has delivered an initial quantity of production-size battery cells to NEC Energy Solutions (NEC ES). 24M claims its semisolid lithium-ion cells, which have a mixture of solid and liquid phases, will be able to deliver up to a 50% cost reduction compared to current Li-ion designs. The 24M cells are designed to… Read more »

24M introduces semisolid lithium-ion cell claiming half the cost of current technology

Startup 24M has emerged from stealth mode to introduce its semisolid lithium-ion cell, which the company claims will deliver improved performance at half the cost of current Li-ion batteries. “The lithium-ion battery is a brilliant, enabling technology, but its economics are flawed. It’s prohibitively expensive; it’s cumbersome and inefficient to make; and today’s version is… Read more »

Volkswagen Group announces three major new battery initiatives

Automakers that are serious about producing EVs understand that they need to build new supply chains, including major battery manufacturing capacity and secure sources of raw materials. The Volkswagen Group has been steadily turning up the voltage, raising its planned investment in EV and self-driving technologies to 73 billion euros ($86 billion) over the next… Read more »

FREYR and Koch Strategic Platforms to build 50 GWh battery plant

FREYR Battery has formed a joint venture with Koch Strategic Platforms (KSP) to develop an initial 50 GWh of battery cell manufacturing capacity in the US based on 24M Technologies’ SemiSolid platform technology. KSP and FREYR have invested $70 million in convertible notes with 24M. 24M’s SemiSolid technology reduces the number of steps required to… Read more »