Nanoramic Secures Fortistar Investment to Transform Electric Vehicle Battery Technology
October 21, 2021
Nanoramic®, an energy storage and advanced materials company, announced it has received an investment from Fortistar, a privately-owned investment firm that provides capital to build, grow, and manage companies that address complex sustainability challenges. Nanoramic has raised over $75 million to date, a sum that will enable the company to further develop and commercialize Neocarbonix™, its nanocarbon electrode technology.
Neocarbonix will transform energy storage for electric vehicles (EVs), increasing energy density by 30% relative to current best-in-class batteries while simultaneously reducing cost of production by 20%. Neocarbonix also enables lithium-ion batteries to be charged in less than 15 minutes.
Neocarbonix eliminates the need for toxic solvents such as NMP during battery manufacturing and recycling. Its manufacturing process is simple and low-cost, utilizing existing equipment and serving as a drop-in replacement for existing battery designs. Li-ion cells containing Neocarbonix at their core surpass standard automotive battery cycling requirements, thereby extending their lifetime.
As a part of the Fortistar investment, Nanoramic will add Chuck Bryceland to the company’s board of directors. Bryceland is managing director at Fortistar and brings over 30 years of financial services experience.
Neocarbonix electrodes are produced using a low-cost process utilizing an advanced 3-D nanocarbon binding structure. Battery and supercapacitor manufacturers can use Neocarbonix to optimize their production processes, reduce cost, and deliver products that perform well in a broad range of environments.
Following years of research in energy storage nanotechnology, which was initially funded by NASA, the U.S. Department of Energy, and the Department of Defense, Nanoramic maintains several major licensing agreements that will help scale production of their technologies to a global level. Nanoramic is currently working with the world’s leading manufacturers of batteries, automobiles, electronics, and other industries to develop and license user-specific versions of its battery and supercapacitor technologies.
For more information, visit Nanoramic.