24M Technologies, Inc. Awarded $9 Million From ARPA-E for Transformational Energy Technology

CAMBRIDGE, Mass.--(BUSINESS WIRE)--24M Technologies, Inc. announced today it was awarded $9 million in funding from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E). The funding will be used by 24M to develop and scale next-generation high energy density lithium metal anode cells for electric aviation.

“We are very pleased to have been selected for this competitive award. The program will accelerate our commercialization activities and enable us to rapidly bring our revolutionary cell technology to the market.” said Naoki Ota, President and CEO of 24M Technologies Inc. “With this funding we will develop and scale high energy cell solutions for electric flight using our unique SemiSolid^TM platform that breaks through the performance and cost barriers of today’s lithium-ion technologies.” said Dr. Yet-Ming Chiang, Chief Scientist & Co-Founder of 24M Technologies Inc.

The 24M team plans to develop batteries incorporating a lithium metal anode and SemiSolid^TM cathode to deliver lower cost, superior power and improved energy density to electric aviation applications. The 24M team will also develop and scale up a commercial, modular, pilot line for customer validation with a clear path to gigascale production capacity for the new lithium metal battery technology.

24M Technologies, Inc. received this competitive award from ARPA-E’s program Seeding Critical Advances for Leading Energy technologies with Untapped Potential (SCALEUP), building on ARPA-E’s primary research and development (R&D) focus, to support the scaling of high-risk and potentially disruptive new technologies across the full spectrum of energy applications.

For additional information about 24M Technologies, Inc. and this project, please visit 24-m.com.

About 24M Technologies

24M answers the world’s need for affordable energy storage by enabling a new, more cost-effective solution–SemiSolid^TM 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 improving 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.