Nanoramic, Inc. (“Nanoramic”) a pioneer in advanced batteries, today announced a follow-on strategic equity investment from Top Material Co., Ltd (“Top Material”). This marks Top Material’s second participation in the financing round, deepening its commitment to establishing a key manufacturing base in South Korea for Nanoramic. Together, the companies are solidifying the supply chain for growing customer demand for Nanoramic’s Neocarbonix® battery products in Asia and worldwide.
Neocarbonix is a force multiplier for the battery industry, designed to drop into existing manufacturing lines and deliver far-reaching improvements in battery cost, energy density, power, and fast-charging performance. Neocarbonix also enhances manufacturing sustainability and worker safety by eliminating the need for conventional NMP solvents.
This partnership builds on a period of significant growth for Nanoramic. The company recently opened a new 40,000-square-foot headquarters in Woburn, Massachusetts, and has commenced commercial shipments from the new facility. This growth period includes a $44 million funding round co-led by General Motors Ventures and Catalus Capital, with participation from Samsung Ventures, marking the company’s transition to its next phase of global commercial adoption.
The strategic partnership with Top Material marks a significant step towards the global commercialization of Neocarbonix. It combines Nanoramic’s leadership in advanced batteries with Top Material’s world-class manufacturing infrastructure and expertise as a scale-up partner. Together, the two companies are creating a robust, de-risked manufacturing base and supply chain for customers integrating Neocarbonix into their batteries.
John Cooley, Founder and CEO of Nanoramic said, “This expanded partnership with Top Material is key to our global commercialization efforts. It provides us with a crucial manufacturing footprint to better serve our customers in Asia and across the world. Top Material’s proven excellence in manufacturing creates a secure and dependable path for our partners to integrate our technology, and their continued confidence and investment are invaluable as we enter this next phase of global growth.”
Whan Jin Roh, Founder and CEO of Top Material said, “This strategic partnership with Nanoramic represents a significant milestone in establishing a reliable manufacturing base in South Korea and driving the global expansion of Neocarbonix technology. Leveraging Top Material’s proven expertise in large-scale battery engineering and advanced materials, the collaboration will strengthen the global supply chain and support in bringing next-generation battery technologies to market at scale and speed.”
SOURCE: PR Newswire
