Two Massachusetts, US, firms have signed a Memorandum of Understanding (MoU) to produce semisolid lithium-ion energy storage systems.
Cambridge–based 24M has agreed to supply its semisolid lithium-ion cells for use in Westbourgh-based NEC Energy Solutions’ integrated storage systems.
The deal is one of 24M’s first since it unveiled its technology in June after five years of research fund raising, including $50million from Charles River Ventures, North Bridge Venture Partners, and its strategic partners, and a $4.5million grant from the US Department of Energy.
The firm was co-founded by Massachusetts Institute of Technology-based scientist Yet-Ming Chiang, who also founded lithium-ion company A123 before being sold to China’s Wangxiang Group.
24M’s battery cells are designed for the long cycle and calendar life required by grid-scale energy storage or electric vehicle applications. It involves removing more than 80% of the inactive, non-charge-storing materials found in conventional lithium-ion batteries.
Bud Collins, CEO of NEC Energy Solutions, Inc., said: “Working together, NEC Energy Solutions and 24M will provide customers with high performance, 20-year battery life for reliable grid, off-grid and behind-the-meter solutions.”
The company also has strategic partnerships with the Japanese heavy-industry giant IHI and from PTT, a Thai oil and gas company.
The MoU is NEC’s second energy storage deal this month.
On October 9th it entered into an agreement with Eos Energy Storage to develop next‐generation energy storage solutions based on Eos’s ZnythTM zinc hybrid cathode battery chemistry and its Aurora DC battery system.
Picture: Bud Collins, CEO of NEC Energy Solutions, Inc