LEXINGTON, Mass.--(BUSINESS WIRE)--Founder and President of CAMX Power, the largest independent lithium-ion battery materials and design entity in the U.S., Dr. Kenan Sahin, today announced that CAMX Power, which has operated in stealth for the past fifteen years, is opening its doors. CAMX Power today launched an array of services and technology products for the e-mobility and e-portability energy storage markets. These products will bring its state-of-the-art facilities, deep knowledge of lithium-ion batteries and materials, and extensive connections up and down the supply and use chain to benefit clients.
The expanding sales of electric vehicles, where lithium-ion batteries are essential, is estimated to exceed hundreds of billions of dollars annually by the mid 2020s, in the process creating many companies and transforming existing ones in the supply, service and use chain. Further, today's connected lifestyle is becoming increasingly dependent on portable devices whose functions can be severely limited by energy storage capabilities. This combination of e-mobility and e-portability has created an exponentially increasing demand for energy storage options that are clean, affordable and convenient.
The key component of lithium-ion batteries is the cathode material for which only few chemistries are commercially viable. Over fifteen years, CAMX Power developed CAM-7®, the highest performance cathode material now available. To achieve this strategic objective, with an investment of more than $75 million, CAMX Power built state of the art facilities, brought together a staff of world leading experts, and accumulated deep knowledge of all facets of lithium-ion battery technology, all the while developing a wide and deep network of major industry players from cell makers to automotive companies. CAM-7 has already been licensed by two key global cathode material manufacturers to make and sell the material in quantity and will now be accessible to the wider market.
“The advanced battery energy storage space is dominated by a few big players and as the market expands, new companies with innovative ideas will be challenged in acquiring the access and insider knowledge they need to succeed,” said Dr. Sahin. “Having achieved our strategic mission of developing CAM-7 and putting it in the hands of major manufacturers, we now want to enable other companies to enter the space by making our deep knowledge, extensive facilities and staff available through the client driven service and technology products we have developed. By lowering the barriers to entry for new players, we aim to help expand the number of companies able to participate in this very important market. This will also help the big players acquire innovations quickly and less expensively.”
"Electrification of vehicles is critical to our environment and quality of life and crucial in the battle to reduce greenhouse gases. Leading the development and commercialization of CAM-7 was a challenging but worthwhile journey," Dr. Sahin added. "Now, transforming CAMX Power to be an enabling company for others to enter and succeed, or expand their present success in this space will be a gratifying next chapter in my long and varied career in socially conscious technologies.”
About CAMX Power
CAMX Power LLC, founded by Dr. Kenan Sahin and headquartered in Lexington, Massachusetts, USA, is the largest independent lithium-ion battery materials and design entities in the U.S. It has developed and licensed its flagship product CAM-7®, one of the most advanced cathode materials for use in lithium-ion batteries. CAMX Power has now transformed itself into a service and technology products company to enable others to enter the e-mobility and e-portability energy storage market and for those already in the market, to cost-effectively expand their sales and to develop and acquire innovative solutions. The company maintains a lithium-ion battery material synthesis facility, a development-purposed cathode production pilot plant, and design-purposed advanced cell making facilities.
For more information please visit www.camxpower.com.
About Dr. Kenan Sahin
Dr. Sahin is an academic, scientist, inventor, technologist, serial entrepreneur and philanthropist. He was educated at MIT where he served as faculty member, and also served on the faculties of the University of Massachusetts and Harvard University. While at MIT, he started Kenan Systems with his own funds, growing it into an international company with close to 1,000 people, never seeking outside capital. After selling Kenan Systems to Lucent/Bell Labs, spending time running one of Lucent’s groups, and serving as a VP of Technology at Bell Labs, he returned to Boston in 2001. The following year, again with his own funds he started TIAX. Using his decades of experience, he formulated a cluster of business models and practiced them at TIAX to mature early stage technologies to be IP protected, de-risked and production ready for established companies to make and sell. CAM-7 is a crowning achievement which began in TIAX’s Advanced Battery Materials and Design division. In 2014 he spun that division into a separate company, CAMX Power. Dr. Sahin has received many awards including being named, in 2003 by the World Economic Forum, one of its 40 technology pioneers.
For more information, visit his bio page at www.camxpower.com.