Coreshell Raises $24M To Commercialize the Lowest-Cost and Domestically-Sourced Lithium-Ion Battery Anode

Core Insights - Coreshell has secured $24 million in strategic funding to scale production of its 60 Ah battery cells made from 100% domestically-sourced metallurgical silicon [1][2] - The funding will facilitate the expansion of Coreshell's manufacturing capabilities at its new 4 MWh facility in San Leandro, California, with plans for a 100 MWh facility in development [2][4] - The company aims to deliver commercial samples of its battery cells to global automakers in 2025, addressing the growing demand for silicon-based batteries [2][3] Market Demand and Production Scaling - The funding will accelerate efforts to meet increasing market demand for silicon-based batteries and enhance the executive and R&D teams to refine production processes [4] - Coreshell's manufacturing utilizes standard equipment from South Korea's TopMaterial, allowing for rapid scaling without specialized infrastructure [4] Strategic Partnerships - Ferroglobe PLC, a key materials partner, supplies the micrometric silicon essential for Coreshell's battery technology [5] - The partnership is seen as critical for scaling a domestic supply chain and addressing cost and supply chain challenges in the EV industry [6] Technological Advancements - Coreshell's battery technology utilizes metallurgical silicon, providing over 30% more range and reducing costs by up to 25% compared to traditional graphite [7] - The battery cells have demonstrated significant performance metrics, including 30-40% higher energy density than graphite-based cells and over 475 cycles with more than 90% capacity retention [8][9] Safety and Reliability - Coreshell's silicon anode batteries are reported to be as reliable and safe as traditional graphite batteries while offering higher energy density [9]