Colorado-based battery technology company Iontra has closed a $38-million Series B funding round with investments from Volta Energy Technologies, Flag Group and others. Iontra says it plans to invest the new funds in its power control technology and battery development software.
Iontra says its power control technology could replace CC-CV charging.
“We have found a fundamental way to materially reduce degradation in lithium batteries when charging or discharging,” says Iontra Chief Science Officer Daniel Konopka. “This opens the door for dramatically better performance from existing battery cells representing a range of chemistries, materials, designs, and manufacturing processes. Our technology results in more than two-fold improvements to safe charging speeds and cycle life, improved capacity utilization and safe cold-temperature charging.”
According to Volta CTO Dave Schroeder, “Iontra has developed a novel and distinctly capable tool for battery OEMs and technology developers to improve the design, cost and value of their products.”
“After nearly 10 years of hard work from our team of scientists, engineers, and technicians; two million hours of battery cycling; and multiple 3rd-party validation reports, Iontra’s technology is ready for use in commercial battery design, deployment and operation,” says Iontra CEO Jeff Granato.
“Iontra will initially commercialize its product for use in power tools, smartphones, and drones, and expects to quickly develop its product for larger-scale battery systems found in EVs, DC fast chargers, grid storage and other industrial applications,” says the company.
Iontra anticipates supplying its battery technology for commercial products by 2024, and it says it has partnered with top-tier automakers.