Sion Power develops Licerion® lithium‑metal battery technology intended for electric vehicles. Licerion uses compression in lithium‑metal cells to enhance safety, lifetime, and recharging rates and aims to deliver up to twice the energy of conventional lithium‑ion batteries at up to 500 Wh/kg. The company has demonstrated the technology in large energy capacity cells up to 20Ah and is developing cells to reach 56Ah. With new capital, Sion Power plans to build a fully automated manufacturing line to produce high‑quality large‑format lithium‑metal cells for testing and market development with automotive OEMs and cell manufacturers. The company intends to use the financing to achieve technical and market validation of its technology. Recent board additions include automotive and industry executives and investor representatives to support commercialization efforts. Sion Power is a developer of next-generation rechargeable batteries built around its proprietary Licerion® lithium-metal technology. Licerion® contains roughly twice the energy of a traditional lithium-ion battery in the same size and weight by using a lithium-metal anode and a patented manufacturing process. The company positions the chemistry as an enabling technology to significantly enhance performance for commercial and consumer electric vehicles. Under an agreement with Cummins, Sion Power will run a multi-year program to design and supply large-format lithium-metal cells for integration into Cummins' battery packs and electric powertrains for commercial vehicles. The article states Cummins has made an investment in Sion Power in connection with the agreement, though financial terms are not disclosed. The press release is datelined Tucson, Ariz., and emphasizes Licerion® as a robust, long-lasting rechargeable battery for demanding applications. Sion Power is a developer of next-generation lithium-sulfur (Li-S) rechargeable batteries focused on portable power and electric vehicle applications. The company is based in Tucson, Arizona and was established initially as Moltech Corporation in 1994. Sion has assembled a team of scientists and engineers and holds more than 100 U.S. and international patents on its Li-S technologies. Its lightweight, high-energy cells have enabled an unrefueled flight-endurance world record for unmanned aerial vehicles. Sion is pursuing commercialization of its proprietary Li-S technology for electric and plug-in vehicles and other high-energy applications over the next decade. The company recently received a $50 million equity investment from BASF, expanding their technical collaboration and providing a financial partnership to support development and commercialization.

Total raised

$125M

Funding rounds

3

Latest round

Series A

Latest activity

Jan 2024