Brightvolt Raises $16 Million In Series B Funding Led By New Science Ventures And Caterpillar Venture Capital Inc.
Brightvolt Raises $16 Million In Series B Funding Led By New Science Ventures And Caterpillar Venture Capital Inc.
10/06/21, 8:00 AM
Location
redmondMoney raised
$16 million
Round Type
series b
BrightVolt, Inc., a global leader in the design, development, and manufacturing of safe, high energy and low cost solid-state Lithium-Ion batteries has successfully closed the first tranche of a $16M Series B financing round with significant investments by New Science Ventures (NSV) and Caterpillar Venture Capital Inc. (Caterpillar). Fresh funds will be utilized for development of larger form factor products targeting industrial electrification and e-mobility markets.
Company Info
Location
redmond, washington, united states
Additional Info
"With a strong leadership team in place, the company is targeting commercialization of Lithium-Ion batteries utilizing its proprietary polymer electrolyte technology in several key applications that have realized their theoretical limitations with use of traditional Lithium-Ion batteries like e-mobility." With a clear target set by the Biden administration for 50% of all new car sales in the United States to be electric vehicles by 2030, BrightVolt will have the ideal battery technology in place to power this mass adoption.