Monomyth Materials Broadens U.S. Anode Supply Chain Capabilities with Acquisition of NanoGraf Assets

Concurrently, Monomyth Materials rebrands Anovion Technologies to M₂Graphite, highlighting its leadership in U.S. anode grade synthetic graphite production

CHICAGO--(BUSINESS WIRE)--Monomyth Materials, the parent company of M₂Graphite, today announced that it has acquired substantially all of the assets of NanoGraf. NanoGraf is a Chicago-based silicon anode technology company spun out of Northwestern University and Argonne National Laboratory, and backed by leading venture investors. As part of the transaction, Monomyth Materials will issue units to NanoGraf shareholders as consideration; other financial terms were not disclosed.

The NanoGraf assets will become the base for Monomyth Materials’s new M₂Innovations business, focused on advanced, high-performance battery materials and prototype cells from R&D through pilot scale. It also combines NanoGraf’s silicon-oxide (SiOx) and cell expertise with M₂Graphite’s manufacturing strength and innovative performance material technologies. Customers will benefit from the broader product suite this combination brings across key end-markets including energy storage systems (ESS), electric vehicles (EVs), certain niche industrial uses and key defense-related applications such as surveillance and attack drones, military equipment and vehicles for air, land and sea, battlefield energy storage and soldiers’ equipment.

NanoGraf contributes a robust intellectual property portfolio, established relationships with leading battery manufacturers, and proven SiOx technology already deployed in select consumer electronics and military applications, with validation from federal agencies and defense contractors. NanoGraf has also received funding from the U.S. Department of Energy and Department of War which will facilitate scaling domestic production of SiOx, a critical material currently dominated by China, which accounts for over 60% of global capacity.

Over 90% of active anode material is sourced from China, underscoring a major U.S. supply chain vulnerability for lithium-ion batteries and other technologies. By integrating NanoGraf’s silicon anode technology with M₂Graphite’s synthetic graphite platform, Monomyth Materials will deliver a fully domestic solution for next-generation anodes, with a particular focus on critical military programs and other infrastructure needs.

Since 2022, Monomyth Materials has invested more than $100 million into M₂Graphite and is preparing to launch the first of its three $1 billion-plus capital programs to build America’s first scaled capacity for anode grade synthetic graphite. M₂Graphite has a site in Bainbridge,GA, which will serve as the first of several facilities it will build into the leading domestic source of battery materials. Key to its business plan, M₂Graphite is repatriating U.S. invented thermal technology currently dominated by Chinese capacity, reshoring upwards of 1,000 high-value manufacturing jobs and playing a critical role in strengthening America’s energy transition and advanced materials supply chain.

“Silicon and graphite represent virtually 100% of active anode material and silicon anodes with synthetic graphite are redefining materials architecture and performance for next-generation lithium-ion batteries,” said Chip Dunn, Founder of Monomyth Materials. “By combining NanoGraf’s anode technology with M₂Graphite’s domestic production capabilities, we are building an integrated U.S. anode supply chain at commercial scale to reduce reliance on Chinese imports that currently create untenable vulnerabilities for critical infrastructure, including AI data center backup systems and military applications such as surveillance and attack drones.”

“Bringing these platforms together allows NanoGraf’s silicon anode technology to scale alongside the leading domestic synthetic graphite supply for the first time,” added Francis Wang, who led NanoGraf through its growth stage and will join the new M₂Innovations advisory board. “Together, we’re accelerating the development of high-performance, U.S.-made battery materials for critical applications.”

M₂Graphite was formed through the combination of graphite assets from Amsted Industries and Pyrotek. Amsted Industries remains a minority shareholder of M₂Graphite.

About Monomyth Materials

Monomyth Materials, is a Chicago-based holding company focused on advanced materials and related technologies. Its current subsidiaries include M₂Graphite and M₂Innovations. Monomyth Materials is controlled by Chicago-based Monomyth Group, a diversified holding company founded by Chip Dunn in 2017, with offices in Chicago, New York, and London.

About NanoGraf

NanoGraf is a Chicago-based silicon anode technology company developing high-performance silicon oxide (SiOx) materials for advanced lithium-ion batteries. The company’s technology is deployed across consumer electronics and defense applications and is supported by a strong intellectual property portfolio, strategic partnerships with leading battery cell manufacturers, and funding from federal government organizations including the U.S. Department of Energy (DOE) and Department of War (DOW).