Ion Storage Systems, a US battery startup based in Maryland, has received $30 million in Series A venture capital funding from the likes of Toyota Ventures, Tenaska, and Bangchak Corp. The company aims to develop factories to reach mass battery cell production.
Ion Storage is developing solid-state batteries and aims to produce 10 MWh per year and generate commercial revenue by the end of 2023. The key differences to other solid-state and next-generation batteries is a bi-layer cell design. This reduces typical lithium-ion battery defects, and works with existing and next-generation cathode chemistries, avoiding the use of critical raw materials like cobalt, nickel, and gold.