Ionic Mineral Technologies (Ionic MT), a U.S.-based, vertically integrated producer of advanced materials for the energy, defense and technology sectors, has completed a $29 million Series B financing round—surpassing its original $25 million target. The oversubscribed funding reflects growing investor confidence in the company’s plan to secure a domestic supply chain for critical battery components.
Proceeds from the round will support capacity expansion at Ionic MT’s 74,000-square-foot facility in Provo, Utah, and accelerate production of two key materials. Ionisil™, a nano-silicon anode designed for next-generation electric vehicle and defense batteries, will see annual output scale to 1,000 metric tons. Manufactured via a patented, silane-free magnesiothermic reduction process, Ionisil™ offers energy capacities in excess of 2,500 mAh/g and positions Ionic MT as a cost-efficient alternative to existing silicon anode suppliers. IonAl™, a high-purity boehmite alumina used in battery separators and advanced technical ceramics, will ramp to 5,000 metric tons per year, with commercial shipments and positive cash flow expected in 2026.
Ionic MT sources its proprietary halloysite clay from the company’s Halloysite Hills and Silicon Ridge mineral resources in Utah and processes it in-house using low-carbon methods. This asset-backed, fully integrated approach is intended to enhance capital efficiency, reduce reliance on foreign materials and align with U.S. industrial and national security priorities.
“This successful raise marks a key inflection point for Ionic MT,” said Andre Zeitoun, Founder and CEO. “We now have the capital to scale manufacturing, complete Tier-1 customer qualifications, and transition to commercial revenue—all while strengthening the domestic foundation for next-generation battery materials.”
With funding secured, Ionic MT is targeting product validation with Tier-1 partners across the EV, battery and defense markets and plans to reach several commercial milestones in 2025 and 2026. The company is also expanding its leadership team with experts in materials science, battery R&D and manufacturing scale-up.
Source: Business Wire
