Cambridge, Massachusetts-based 24M has raised $21.8 million in Series D funding, which it will use to accelerate production of its SemiSolid lithium-ion cells for the EV market. Ceramics manufacturer Kyocera and global trading firm Itochu led the financing round. Previous investors, including North Bridge Venture Partners, also participated. 24M introduced its SemiSolid battery design in… Read more »
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24M delivers first production-size semisolid battery cells
Massachusetts startup 24M has delivered an initial quantity of production-size battery cells to NEC Energy Solutions (NEC ES). 24M claims its semisolid lithium-ion cells, which have a mixture of solid and liquid phases, will be able to deliver up to a 50% cost reduction compared to current Li-ion designs. The 24M cells are designed to… Read more »
24M introduces semisolid lithium-ion cell claiming half the cost of current technology
Startup 24M has emerged from stealth mode to introduce its semisolid lithium-ion cell, which the company claims will deliver improved performance at half the cost of current Li-ion batteries. “The lithium-ion battery is a brilliant, enabling technology, but its economics are flawed. It’s prohibitively expensive; it’s cumbersome and inefficient to make; and today’s version is… Read more »
FREYR and Nidec finalize battery manufacturing JV, release results of cell testing
In September, FREYR Battery and Japanese electric motor producer Nidec announced plans to establish a downstream joint venture to produce battery modules and packs. Now the new JV, Nidec Energy, has been officially established. Mass production is expected to commence in 2025, and the goal is to manufacture more than 8 GWh per year of… Read more »
FREYR Battery to use Aleees technology to produce LFP active cathode material
Cell manufacturer FREYR Battery has entered into an agreement with Aleees, a Taiwan-based LFP cathode battery material producer. The agreement gives FREYR a worldwide license to produce and sell LFP cathode material based on Aleees’s technology, and to build production facilities using Aleees’s industrial expertise. Aleees offers complete LFP cathode battery material manufacturing technology and… Read more »
FREYR Battery to build Giga America battery plant in Georgia
Another day, another announcement of a new battery gigafactory. FREYR Battery has purchased a site in Coweta County, Georgia for its planned Giga America battery plant, and will begin detailed project engineering “in the coming months.” FREYR plans to invest some $1.7 billion in the first phase of Giga America, which will be a cell… Read more »
FREYR Battery to build gigafactory in Norway
FREYR Battery is replacing its plan to build two gigafactories with a plan to build a single gigafactory which increases capacity by 150%. The estimated construction cost will be $1.7 billion. “FREYR is increasing the nameplate capacity of Giga Arctic to 29 GWh in response to improving battery supply-demand dynamics, ongoing commercial success, significant progress… Read more »
Volkswagen Group announces three major new battery initiatives
Automakers that are serious about producing EVs understand that they need to build new supply chains, including major battery manufacturing capacity and secure sources of raw materials. The Volkswagen Group has been steadily turning up the voltage, raising its planned investment in EV and self-driving technologies to 73 billion euros ($86 billion) over the next… Read more »
FREYR and Koch Strategic Platforms to build 50 GWh battery plant
FREYR Battery has formed a joint venture with Koch Strategic Platforms (KSP) to develop an initial 50 GWh of battery cell manufacturing capacity in the US based on 24M Technologies’ SemiSolid platform technology. KSP and FREYR have invested $70 million in convertible notes with 24M. 24M’s SemiSolid technology reduces the number of steps required to… Read more »
FREYR building Customer Qualification Plant to produce battery cells in Norway
FREYR Battery will proceed with the construction of its Customer Qualification Plant (CQP) and first battery cell production line in Mo i Rana, Norway. Preparatory work on the facility is already ongoing, and operations are scheduled to begin in the second half of 2022. The CQP production line is based on 24M Technologies SemiSolid lithium-ion… Read more »