What is AM Batteries?
Founded in 2016 and headquartered in Massachusetts, AM Batteries is a pioneer in the development of dry electrode manufacturing technology for lithium-ion batteries. Unlike traditional wet coating processes that require energy-intensive drying ovens and toxic solvents, the company's innovative approach significantly reduces the carbon footprint and capital expenditure associated with battery production. This technological edge positions AM Batteries as a critical player in the global transition toward sustainable energy, offering a scalable solution that enhances both the efficiency and environmental profile of battery manufacturing for electric vehicles and grid storage applications.
How much funding has AM Batteries raised?
AM Batteries has raised a total of $58M across 3 funding rounds:
Angel/Seed
$3M
Series A
$25M
Series B
$30M
Angel/Seed (2021): $3M with participation from Foothill Ventures, TDK Ventures, and SAIC Capital
Series A (2022): $25M led by Anzu Partners and Foothill Ventures
Series B (2023): $30M supported by Asahi Kasei Corporation, Porsche Ventures, Toyota Ventures, and RA Capital Management
Key Investors in AM Batteries
Porsche Ventures
Porsche Ventures engages with top entrepreneurs across the globe, investing in companies from early stage through growth to accelerate innovation within the automotive ecosystem.
Toyota Ventures
Toyota Ventures is the early-stage venture capital arm of Toyota, focusing on frontier technologies like mobility and climate tech to achieve carbon neutrality.
Anzu Partners
Anzu Partners is an investment firm focused on breakthrough technologies in clean tech, industrial, and life sciences sectors, managing $1 billion in assets.
What's next for AM Batteries?
With the infusion of $30M, AM Batteries is well-positioned to accelerate the commercialization of its dry electrode technology. The strategic involvement of major automotive and industrial players suggests a clear path toward integrating these manufacturing advancements into large-scale production lines. Moving forward, the company will likely focus on scaling its operational capacity, refining its supply chain, and deepening its partnerships with global battery manufacturers to meet the surging demand for cleaner, more cost-effective energy storage solutions. The focus remains on achieving manufacturing excellence and establishing a dominant market position in the competitive battery materials sector.
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