GM has invested $60 million in a Series B financing round for Mitra Chem, a Silicon Valley-based battery materials innovator.
GM and Mitra Chem will develop new iron-based cathode active materials (CAM), namely lithium manganese iron phosphate (LMFP), to power EV batteries compatible with GM’s Ultium Platform EV propulsion architecture. GM’s funding will help Mitra Chem scale up and bring its new battery materials formulation to market.
Mitra Chem’s battery R&D facility simulates, synthesizes and tests thousands of cathode designs monthly, ranging in size from grams to kilograms.
“This is a strategic investment that will further help reinforce GM’s efforts in EV batteries, accelerate our work on affordable battery chemistries like LMFP, and support our efforts to build a US-focused battery supply chain,” said Gil Golan, GM VP, Technology Acceleration and Commercialization. “GM is accelerating larger investments in critical subdomains of battery technology, like cell chemistry, components and advanced cell production processes.”
Source: General Motors