Fundraising Achievement: Secured $29 Million in Series B for Sophisticated Materials Technology Platform (Ionic)
Ionic Mineral Technologies (Ionic MT), a leading innovator in the battery industry, has successfully closed a $29 million Series B financing round, surpassing its initial $25 million target. This investment will enable the company to scale manufacturing, complete Tier-1 customer qualifications, and transition to commercial revenue.
The Utah-based company is focused on establishing a domestic supply chain for critical battery components. Ionic MT's patented process, Ionisil, yields anode material with energy capacities over 2,500 mAh/g, offering a cost-efficient alternative to current silicon anode producers. This breakthrough technology is set to revolutionise the battery industry, particularly for electric vehicles (EVs) and defence batteries.
Andre Zeitoun, Founder and CEO of Ionic MT, stated, "This funding will allow us to scale our manufacturing, complete Tier-1 customer qualifications, and transition to commercial revenue. We are excited about the opportunities this investment brings and look forward to contributing to a more sustainable and secure energy future."
To reinforce its leadership team, Ionic MT has partnered with leading institutions in materials science, battery research and development, and manufacturing. The company aims to achieve key commercial milestones in 2025 and 2026.
Ionic MT sources its proprietary halloysite clay from its Utah resources and processes it in-house using low-carbon methods. This integrated model enhances capital efficiency, reduces reliance on foreign supply chains, and aligns with U.S. industrial and national security priorities.
The production of Ionisil, a nano-silicon anode material, will scale to 1,000 metric tons annually. In addition, the production capacity of IonAl, a high-purity boehmite alumina, will increase to 5,000 metric tons annually. IonAl is a high-margin co-product, and commercial shipments are forecast for 2026.
Ionic MT is also working towards product validation with Tier-1 partners in the EV, battery, and defence sectors. The company's goal remains to establish a domestic supply chain for critical battery components, contributing to a more sustainable and secure energy future.
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