EV Engineering News

Wildcat Discovery Technologies raises $20 million in Series C funding

Wildcat Discovery Technologies, a company that uses high-throughput methods to develop next-generation battery materials, has raised more than $20 million in a Series C financing round. Led by Flint Hills Resources and IPM Group in consortium with InoBat, the financing will be used to improve and expand Wildcat’s high-throughput research platform, hardware, modeling, and artificial intelligence capabilities.

The financing round follows a $1.2 million grant awarded to Wildcat Discovery by the DOE in September.

Marian Bocek, Managing Partner at IPM Group and Executive Chairman at InoBat, said, “Our investment marks an important milestone for the InoBat Auto project, a joint venture between Wildcat and InoBat, laying the ground for the construction of a Slovakia-based €100-million battery production and R&D line starting in 2020, with the aim of commencing operations towards the end of 2021.”

Mark Gresser, Wildcat’s CEO, said, “With our investor Flint Hills, we gain the financial backing of an enterprise with deep ties throughout the energy and automotive industries, and with IPM’s and InoBat’s support, we have the ability to partner with an emerging European-based battery manufacturer who can expand our strategic reach to Central and Eastern Europe.”

MORE: Wildcat sorts through the avalanche of new battery materials to find the best

Source: Wildcat Discovery Technologies

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