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GM Funds Mitra Chem's Breakthrough EV Battery Tech

Mitra Chem's $40M Series B funding, led by GM, marks a step forward in their mission to develop and commercialize iron-based cathode materials made in the US, with a $60M goal.

Maria Guerra

August 18, 2023

2 Min Read
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Mitra Chem is innovating and commercializing iron-based cathode materials.Courtesy of Mitra Chem

In an era driven by sustainable energy solutions, the global battery production and supply chain stand at the heart of transformative changes. As key platform technologies enable electrification across transportation, consumer electronics, residential, commercial, and grid-scale energy storage, innovations in battery materials are highly necessary. Mitra Chem, an American producer of lithium-ion battery materials, is contributing to these revolutionary shifts by taking a significant leap forward in enhancing iron-based cathode technology—a fundamental element in the progression of batteries for electric vehicles and energy storage solutions.

The funding from GM will enable Mitra Chem to further develop and commercialize its iron-based cathode materials, specifically lithium manganese iron phosphate (LMFP). Iron-based cathodes offer cost, sustainability, and resource availability advantages compared to traditional cobalt-based cathodes. Also, Mitra Chem’s efforts to produce iron-based cathode materials in the US can definitely help revitalize the global battery production and supply chain.

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With the increasing emphasis on localizing battery production to reduce dependencies on foreign sources and secure the supply chain, Mitra Chem’s developments strengthen the North American battery supply chain industry which is the fastest-growing region for battery factories as Battery Technology reported before.

“GM’s investment in Mitra Chem will not only help us develop affordable battery chemistries for use in GM vehicles but also will fuel our mission to develop, deploy and commercialize US-made, iron-based cathode materials that can power EVs, grid-scale electrified energy storage and beyond,” stated Mitra Chem CEO and Co-Founder Vivas Kumar.

“This is a strategic investment that will further help reinforce GM’s efforts in EV batteries, accelerate our work on affordable battery chemistries like LMFP and support our efforts to build a North America-focused battery supply chain,” stated Gil Golan, GM vice president, Technology Acceleration Commercialization. “GM is accelerating larger investments in critical subdomains of battery technology, like cell chemistry, components and advanced cell production processes. Mitra Chem’s labs, tools and talent will fit well with our own R&D team’s work.”

This announcement  by Mitra Chem shows a significant step forward in the development of advanced battery materials that are critical for the electrification of transportation, energy storage, and other applications. It also highlights the importance of innovation, strategic partnerships, and localized production in shaping the future of the battery industry.

 

About the Author(s)

Maria Guerra

Senior Editor-Battery Technology, Informa

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