Battery cell producer Ionblox (previously known as Zenlabs Energy) has closed a $24-million Series B funding round with investors including Applied Ventures, Catalus Capital, and Lilium, the developer of an electric vertical take-off and landing (eVTOL) aircraft.
The company will use the investment to continue scaling operations and increasing manufacturing capabilities. Earlier this year, Ionblox received a $3.5-million development contract from the United States Advanced Battery Consortium (USABC).
“Ionblox has launched the only commercially scalable battery with a silicon-dominant anode that can simultaneously provide high energy, high power, 1,000 fast-charge cycles, and a clear path to low-cost production today,” said Ionblox CEO Sujeet Kumar. “Our unique batteries can be scaled up with low risk and at a competitive cost, because we use commercially available materials and proven production processes and equipment, rather than costly and hard-to-scale proprietary materials.”
Ionblox says it has addressed all the well-known challenges of using silicon as an active material, including swelling and irreversible capacity loss. Its batteries are designed for high-performance automotive and aviation applications, which require high energy, high power, fast charging and long cycle life.
“The long-term success of the eVTOL regional air mobility revolution depends on the continued development of high-performance batteries,” said Yves Yemsi, COO of Lilium. “After an extensive review we believe that Ionblox’s pouch cell technology will be very well positioned to achieve superior combined performance for high power and high energy density, and we are very excited to continue our joint development.”