In this article, we take a look at the 5 battery startup companies to watch. If you want to check out our detailed analysis of the emerging battery market and developments in the technology, go directly to 15 Battery Startup Companies to Watch.
5. Solid Power, Inc. (NASDAQ:SLDP)
Total Funding: $382 million
Solid Power, Inc. (NASDAQ:SLDP) is based in Colorado, US. It is another company focusing on solid-state battery technology. The company’s proprietary solution is sulfide-based solid electrolytes.
As of Q4, 2022, 18 hedge funds are invested in Solid Power, Inc. (NASDAQ:SLDP), including Citadel Investment Group, Yaupon Capital and LMR Partners.
4. SES AI Corporation (NYSE:SES)
Total Funding: $600 million
SES AI Corporation (NYSE:SES) is another company based in Massachusetts, US. It is engaged in research and development of ultra-thin lithium-metal-anodes-based lithium-ion batteries, to get around the issue of lithium dendrites that form on lithium-metal anodes’ surface. SES AI Corporation (NYSE:SES) has 14 hedge funds holding its equity as of Q4, 2022.
3. Group14
Total Funding: $756 million
Group14 is based in Washington, US, and was founded in 2015. It is one of the top battery startup companies to watch. Its proprietary SCC55 allows for 50% more energy density in silicon-graphite mixtures of lithium-ion battery anodes, than graphite-only anodes, as per the company.
The company has 21 investors, including Microsoft Climate Innovation Fund, OMERS Capital Markets, Amperex Technology Limited and Decarbonization Partners, among others.
2. Sila Nanotechnologies
Total Funding: $980.5 million
Sila Nanotechnologies has developed a nanocomposite of covalently bonded nanostructures, with 50% of the material used being silicon, and the rest being an undisclosed material.
In addition, according to the CEO, the composite is housed in a porous scaffold so it expands and contracts without puncturing the coating. Among the company’s financial backers are the US Department of Energy, Sutter Hill Ventures and Canada Pension Plan Investment Board.
1. QuantumScape Corporation (NYSE:QS)
Total Funding: $1.2 billion
QuantumScape is among the top battery startup companies to watch. It is working on a partial solid-state EV battery prototype that uses a solid electrolyte.
In an MIT Technology Review Interview, the company’s CEO, Jagdeep Singh, said that QuantumScape aims to deliver on five consumer needs, namely, improved safety, longer range, faster charging time, longer battery life and lower costs.
In this regard, QuantumScape has already shown promise in faster charging and longer battery life. Their prototypes can charge at 80% capacity in less than 15 minutes, and retain over 80% capacity over 800 charging cycles.
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