Chelmsford, Massachusetts
AM Batteries’ core technology is the Powder to Electrode dry coating process, which applies dry active materials directly onto current collectors, bypassing solvent use and drying steps. This reduces manufacturing steps from seven to four, cutting energy consumption by 45%, capital expenditures by 30%, operational costs by 60%, and carbon emissions by 40-50%. The technology maintains high performance, enables faster production cycles, and is adaptable to current lithium-ion as well as next-generation battery technologies like sodium-ion and solid-state batteries.
The company produces electrode rolls specifically nickel manganese cobalt (NMC) cathodes manufactured using their Powder to Electrode dry coating technology. These electrode rolls are designed for lithium-ion batteries and are currently under evaluation against traditional slurry-coated electrodes.
In 2023, AM Batteries completed its first shipment of electrode rolls to a major battery cell manufacturer for evaluation. It also launched a Customer Success Center Program supported by a $2.23 million grant from the Massachusetts Manufacturing Innovation Initiative to advance sustainable battery production. Additionally, AM Batteries formed a strategic partnership with Tokyo-based Zeon Corporation to develop specialized binders for dry battery electrodes aimed at improving EV and energy storage batteries.
AM Batteries has raised over $60M in funding to date. In 2023, it completed a Series B round that raised $30M led by Toyota Ventures. Series A investors include Anzu Partners (lead), TDK Ventures, Foothill Ventures, SAIC Capital, and VinFast. Series B investors include Toyota Ventures (lead), Porsche Ventures, Asahi Kasei, RA Capital Management, Wilson Sonsini, and Industry Ventures.
