Led by Volta Energy Technologies, the $38M Series B Investment Enables Further Development and Commercialization of Iontra's Charge Control Technology Which Increases Charge Speeds and Lifetimes of Existing Battery Products by Over 2X.
Iontra Inc., a Denver-based battery performance and safety technology company, announced the closing of its $38M Series B Financing led by Volta Energy Technologies, LLC ("Volta"), with participation from Flag Group and other investors. Iontra has been in stealth mode for nearly a decade and is partnered with various top tier OEMs to commercialize its breakthrough technology that will replace incumbent CC/CV charging and significantly reduce the development time of new batteries and battery-powered products.
"We have found a fundamental way to materially reduce degradation in lithium batteries when charging or discharging. This opens the door for dramatically better performance from existing battery cells representing a range of chemistries, materials, designs, and manufacturing processes,"
said Daniel Konopka, Chief Science Officer.
"Our technologyresults in more than two-fold improvements to safe charging speeds and cycle life, improved capacity utilization, and safe cold-temperature charging. This provides valuable opportunities to reduce costs while improving the basic capabilities and lifetime of batteries."
Iontra expects to have its battery technology in commercial products by 2024 with a steep ramp of adoption across multiple market segments to follow.
"After nearly 10 years of hard work from our team of scientists, engineers, and technicians; two million hours of battery cycling; and multiple 3rd-party validation reports, Iontra's technology is ready for use in commercial battery design, deployment, and operation,"
said Jeff Granato, the company's CEO.
Iontra will initially commercialize its product for use in power tools, smartphones, and drones, and expects to quickly develop its product for larger scale battery systems found in EVs, DC fast chargers, grid storage, and other industrial applications. Iontra's technology agnostic to battery cell chemistry and design, ensuring applicability to a wide range of battery products within, and beyond, existing lithium-ion technologies.
"Iontra values Volta's strategic focus on emerging technologies and markets for batteries. We believe Volta is a great partner to help accelerate commercialization of Iontra's technology,"
said Granato.
Dave Schroeder, CTO at Volta, who will serve as a director on the Iontra's board, said,
"Iontra has developed a novel and distinctly capable tool for battery OEMs and technology developers to improve the design, cost, and value of their products. As Volta continues to manage and grow our portfolio and our industry relationships, we expect many opportunities to leverage Iontra's technology, accelerating its commercialization and the improvement of battery products across a wide range of products and use cases."
Zander Arkin, Chief Investment Officer at Volta adds,
"Volta develops and manages its investments across several key links in the energy technology value chain from basic materials to product design and manufacturing scale up. Iontra's technology adds advanced software and power controls to our portfolio, providing us new and valuable opportunities to support product development and commercialization partnerships between Iontra and other industry participants both within the Volta portfolio and the broader industry in which we work."
CONTACT:
Amna Quraishi
[email protected]
SOURCE Iontra Inc