Ultion Technologies, a fully-integrated US producer of advanced lithium iron phosphate (LFP) battery cell technology, has closed a Series A funding round led by Torus, a Utah-based full-stack energy storage solutions developer.

Nevada state-sponsored venture capital program Battle Born Venture, which is overseen by the Governor’s Office of Economic Development (GOED), also participated in the round.

Ultion’s Nevada facility produces LFP batteries from a predominantly domestic supply chain. The company has near-term plans to achieve fully domestic sourcing. The funding will enable Ultion to scale its domestic production capacity more than fivefold.

“Every battery imported from outside the US is a missed opportunity for American jobs and a vulnerability in our energy security,” said Dr. Johnnie Stoker, CEO and founder of Ultion Technologies. “This funding proves not only that American-made batteries can compete with imported batteries in performance and cost—but that our proven cell technology and deep industry expertise position Ultion to lead America’s growing energy storage market.”

“As both an investor and customer, we understand the risks of depending on overseas battery suppliers,” said Nate Walkingshaw, co-founder and CEO of Torus. “Ultion’s proven, domestically produced batteries give us unmatched reliability, shorter lead times and the ability to innovate without international supply chain delays.”

Source: Ultion Technologies