SOLiTHOR, a new spin-off company from Belgian research laboratory Imec, has raised €10 million ($10.6 million) in seed investment funding to aid its bid to commercialise solid-state lithium technology.
The firm said in a statement it raised the seed investment funding from in-house fund imec.xpand, supported by a strong investment syndicate including LRM, Nuhma and FPIM.
It will use the funding to develop the technology required for further electrification of the transport industry. It aims for solutions that address autonomy, performance, longevity and safety issues.
It said solid-state batteries will improve the performance of classical battery systems in terms of energy density, charging speed, weight and volume. Imec has invested for 10 years in new technology to further boost the performance of solid-state batteries, with components enabling an assembly process more compatible with classical Li-ion battery assembly lines.
Huw Hampson-Jones, founder and CEO of SOLiTHOR, said: “SOLiTHOR’s technology…will improve energy density, charging speeds and crucially, increase safety and will be far easier to manufacture than other solid-state batteries.”