Participated · Series A · Feb 2025

ACT-ion Battery Technologies develops coated single-crystal cathode active materials (CAMs) for lithium batteries using a rapid continuous, clean, and chemistry-agnostic manufacturing process that aims to lower energy use and cost. The company is led by CEO Jin Lim and is based in Dallas, Texas. It is building and commissioning a pilot production facility in Carrollton, Texas, to scale its CAM production. ACT-ion intends to use recent funds to complete the pilot build-out and to secure commercial validation and offtake agreements with partners in the electric vehicle and energy storage sectors. Financially, the company recently closed a $4M Pre‑Series A extension led by Kyobo Life Insurance Group and KB Investment. That $4M followed an initial $7.5M close with participation from BASF Venture Capital, Hunt Energy Enterprises, Arosa Capital, Mirae Asset Capital, and LG Technology Ventures, bringing total disclosed funding to $11.5M. ACT-ion develops lithium battery cathode active material (CAM) production technology using a rapid continuous process that yields coated single crystal CAMs through a clean, chemistry-agnostic method requiring lower energy and cost. The company was incubated within and spun out of Hunt Energy Enterprises LLC. Led by Jin Lim, CTO and Interim CEO, ACT-ion has successfully demonstrated its manufacturing platform for a variety of chemistries. The company is based in Dallas, Texas. ACT-ion intends to use new funding to accelerate its CAM production technology and to establish an operational pilot facility by 2025, with validations from industry partners. The article reports a $7.5M fundraising, indicating early-stage capital to commercialize the platform.

Participated · Equity · Jun 2023

CubicPV develops silicon wafers and complementary perovskite technologies aimed at high-efficiency tandem solar modules. The company positions itself as an experienced North American wafer producer with proprietary silicon crystallization and materials innovations. CubicPV is executing a U.S. factory plan intended to produce 10 gigawatts of wafers and has completed conceptual design, narrowed site selection to two locations, and advanced detailed design with an industry project management partner. Leadership has been strengthened for the factory program with the appointment of David Gustafson as President of the new wafer facility to lead planning, ramp and operations. The company has offices in Bedford, Massachusetts, and Dallas. Financially, CubicPV secured firm equity commitments in excess of $100 million to support the factory and tandem roadmap, with the first $33 million tranche released immediately and a second tranche tied to project milestones. CubicPV combines 1366 Technologies' Direct Wafer® process with Hunt Perovskite Technologies' printed perovskite PV materials to develop tandem (multi-junction) solar modules. The company aims to commercialize tandem modules that layer a perovskite top cell over a silicon Direct Wafer bottom cell, boosting module power output by about 30% versus single-junction devices. HPT contributes a large patent portfolio of more than 160 patent assets and says it has addressed perovskite durability through improved chemistry and intrinsic material stability. 1366's Direct Wafer provides a cost advantage for the silicon bottom cell, which the release notes produces roughly one-third of a tandem device's energy while still carrying 100% of the production cost. The combined entity intends to pursue long-term tandem leadership and terawatt-scale solutions. CubicPV will operate immediately with offices in Bedford, Massachusetts and Dallas, Texas.