CAMBRIDGE, Mass. & TIANJIN, People’s Republic of China--(BUSINESS WIRE)--The World Economic Forum today announced that 24M has been named a 2016 Technology Pioneer, a prestigious award honoring the world’s most innovative companies. 24M was selected for its breakthrough semisolid lithium-Ion technology, an innovation in lithium-ion battery design and manufacturing that produces a better battery at a lower cost.
A sustainable, clean and thriving future for the planet requires a critical enabler – affordable energy storage. The novel semisolid lithium-ion technology from 24M is the first significant advancement in lithium-ion battery design in more than 20 years and will slash today’s lithium-ion costs by 50%, accelerating the global adoption of energy storage.
“Lithium-ion is the preferred chemistry for energy storage, but costs need to come down further to accelerate the transformation of our energy economy,” said Dr. Yet-Ming Chiang, Chief Scientist and Co-founder of 24M. “By simplifying the way batteries are designed, 24M makes it possible to produce low-cost batteries in a more modular, distributed fashion that is more responsive to supply and demand. Recognition by the World Economic Forum is significant validation of the 24M market opportunity and our progress to date.”
24M and the 2016 Technology Pioneers are being recognized at the World Economic Forum’s Annual Meeting of the New Champions being held this week in Tianjin, People’s Republic of China. Throop Wilder, President and CEO of 24M is participating in the event and facilitating several discussions about how energy storage addresses a number of different global challenges and opportunities.
“We welcome 24M to this group of extraordinary pioneers,” said Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum. “24M is among those companies that help shape the Fourth Industrial Revolution, a technological revolution that will fundamentally alter the way we live, work and relate to one another. Through the platform of the World Economic Forum, 24M will be able to scale and share its technology and achieve a larger impact.”
24M was chosen as one of the 30 Technology Pioneers by a selection committee of 68 academics, entrepreneurs, venture capitalists and corporate executives from among hundreds of candidates. The committee based its decisions on criteria including innovation, potential impact, working prototype, viability and leadership. All information on this year’s Technology Pioneers can be found here: http://wef.ch/techpioneers.
24M answers the world’s need for affordable energy storage by enabling a new, more cost-effective solution–semisolid lithium-ion technology. By re-inventing the design of the battery cell as well as the manufacturing method, 24M solves the critical, decades-old challenge associated with the world’s preferred energy storage chemistry: reducing its high cost while bettering its performance. Founded and led by some of the battery industry’s foremost inventors, scientists and entrepreneurs, 24M is headquartered in Cambridge, Mass. For more information, please visit www.24-m.com.
About the World Economic Forum: The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).