Lilium increases investment in Ionblox, betting on (5x) better batteries
Lithium-ion battery developer, Ionblox has reported a second close of its Series B round at an increased $32m.
Original investors Lilium and Applied Ventures were joined as strategic partners by Temasek and Catalus Capital. Ionblox will use the increased Series B funding to scale its technology, develop advanced high-power cells for electric aviation, and prototype fast-charge cells for electric vehicles (EVs).
Ionblox is currently producing its large format pouch cells of up to 50Ah on its pilot production lines. said Sujeet Kumar, Ionblox, CEO, said: “Here at Ionblox, we are commercialising next-generation lithium-ion batteries with pre-lithiated silicon dominant anodes in order to transform the future of electric mobility. The funding from this round will enable us to take an important step in our journey to scale our technology and set up our own cell manufacturing in the US and other key markets.”
Ionblox’s claim its batteries can address the most demanding use cases such as eVTOL operations. The firm’s pre-lithiated silicon anode technology enables a “groundbreaking combination” of up to 50% higher energy density, 5x more power, plus a fast charge of 10minutes compared with conventional lithium-ion cells.
According to Yves Yemsi, COO, Lilium Ionblox’s technology enables one of the highest performance cells for eVTOL aircraft today. He said: “We’re proud to partner with Ionblox for our conforming aircraft. Test results to date are showing the technology will deliver not only superior energy and power density for the Lilium Jet at launch but also very good ageing performance.”