24M has received $3.8 million in funding from the USABC (United States Advanced Battery Consortium).

The two-year project, which includes a 50% cost share, is planned to focus on the development of more affordable fast charging EV battery technology. 24M said it will create lithium-metal cells for electric mobility applications that can be charged to 80% in less than 15 minutes for under $75/kWh.

24M CEO Naoki Ota said: “The continued growth of the EV industry requires lower-cost, faster-charging batteries. 24M is uniquely positioned to meet this need because of the SemiSolid cell structure and manufacturing advantages.”

Source: 24M