Volta Energy Technologies Announces First Investment in Ionic Materials: Aiming to Commercialize Revolutionary Polymer Electrolyte for Batteries
Volta Amongst Strategic and Financial Investors in Ionic’s Recent $65 Million Round of Funding
CHICAGO – February 7, 2018 – Volta announced today that it has made its first investment, taking an equity stake in Ionic Materials, a promising technology company that has invented and is commercializing materials that enable solid-state batteries. Volta has invested in Ionic’s latest round of fundraising with a group of strategic and financial investors that represent the value chain required to commercialize innovations for batteries and energy storage, including Renault-Nissan-Mitsubishi. Volta joins inventor and investor Bill Joy and Kleiner Perkins, who have supported Ionic financially since 2011.
Volta Energy Technologies launched in December 2017 with a new model to identify and invest in breakthrough technologies that will impact a crowded energy storage market. Volta’s team brings together technical and financial experts, works with strategic partners such as Exelon and Albemarle, and collaborates with Argonne National Laboratory to deliver value to the companies in which they choose to invest.
Volta chose Ionic Materials as its first investment because its groundbreaking innovations are poised to enable production of dramatically safer, higher-energy, and longer-lasting batteries for electric vehicles, portable electronics, and backup storage for solar and wind. When fully commercialized, Ionic’s innovations will be a platform that may enable technologies across multiple applications—even beyond batteries and energy storage.
Ionic’s CEO Mike Zimmerman stated, “Ionic Materials’ breakthrough material has the potential to revolutionize battery technology. As we consider how to commercialize and apply this technology, we are thrilled to have Volta on board as an investor—and engaged with Ionic’s other strategic investors to help the company commercialize its innovations. Ionic Materials is eager to leverage Volta’s deep capabilities and experience in energy storage research and business development. We view this engagement as a valuable asset to helping Ionic navigate the battery ecosystem as we move forward.”
Ionic Materials complements Volta’s new investment model because Ionic is a key part of the portfolio of innovations required to enable ubiquitous adoption of electric vehicles and the distributed generation of power. Volta will act in an advisory role within the group of investors, and the team at Ionic will be able to collaborate with Argonne National Laboratory and its substantial resources to further their innovations and research.
Jeff Chamberlain, CEO of Volta Energy Technologies, spoke about the investment, stating, “We are excited to announce Ionic Materials as Volta’s seminal investment and thrilled to be investing alongside a variety of key sector leaders. Ionic Materials’ polymer electrolyte for solid-state batteries stands out in a crowded field of energy storage innovations, both because of its performance and its manufacturability. When fully commercialized, Ionic’s innovations have the potential to change the market as we know it for portable and stationary power. Solid state batteries will unlock new opportunities for Volta and our strategic investors, and we look forward to a fruitful partnership with Ionic Materials.”
Through its model, Volta adds value to IM as an independent strategic investor and will counsel Ionic on technology development, product development strategies, and the product development pipeline.
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About Ionic Materials
Ionic Materials is a materials technology company that enables next-generation solid-state batteries. Its breakthrough polymer is the first solid electrolyte to fully function at room temperature and be compatible with lithium and alkaline-based batteries, and enable new and advanced electrode chemistries to significantly improve battery safety, performance, and cost.
Developed by a world-class team of polymer scientists, Ionic Materials is headquartered in Woburn, MA. For more information, please visit http://ionicmaterials.com/.
About Volta
Volta Energy Technologies identifies and invests in battery and energy storage technology after performing deep diligence with the support of unparalleled global research institutions. Seeded by strategic corporate investors, Volta connects innovators with investors and relevant industries that are adopting energy storage technology, delivering strategic returns for all. To learn more, visit volta.vc and follow @VoltaLink on Twitter.