Summary
- GM Ventures and Catalus Capital led a $44 million financing round for Nanoramic to bring a PFAS-free energy storage solution to market
- Nanoramic developed Neocarbonix, a PFAS-free binder for EV battery electrodes, replacing PVDF and eliminating the need for NMP solvent
- The new solution not only improves battery performance, energy density, and manufacturing efficiency, but also reduces carbon footprint and enables easier battery recycling
- The US EV market continues to grow, with BEVs accounting for 8.9% of sales in Q3, driven by increasing demand for affordable electric vehicles
- Investments and programs aimed at improving the domestic battery supply chain, such as LFP technology and multi-billion dollar investments, are expected to further accelerate EV adoption
Article
Top investors like GM Ventures are leading a $44 million financing round to bring a new PFAS-free energy storage solution to market, addressing the EV battery PFAS problem. Nanoramic, a Massachusetts startup, developed a PFAS-free binder called Neocarbonix® as a replacement for conventional binders used in EV battery electrodes. This new binder is drop-in compatible with existing lithium-ion EV battery manufacturing lines, offering improvements in battery cost and performance.
In addition to eliminating PFAS chemicals, Nanoramic’s Neocarbonix® binder also removes the need for the toxic solvent NMP (n-methylpyrrolidone) in the Li-ion battery manufacturing process. By replacing PVDF binder with a carbon binding structure, the new binder improves electric conductivity and mechanical properties while enhancing worker safety and reducing manufacturing energy consumption. Nanoramic’s technology offers far-reaching improvements in battery performance, cost, energy density, and power, as well as supply chain security.
The $44 million financing round, which includes investors like Samsung Ventures and Top Material, will allow Nanoramic to commercialize its Neocarbonix® technology across various industries beyond EV batteries. The elimination of NMP also reduces the carbon footprint of Li-ion battery manufacturing by 25%, making the electrode manufacturing process more energy-efficient. Furthermore, the circular economy benefits from the Neocarbonix® technology, as it allows for direct reuse of active materials in NMC cathodes without the need for energy-intensive recycling processes.
Despite concerns about the future of the US electric vehicle market post-Biden administration, recent data from Wards Intelligence show a growing market share for hybrid and battery-only EVs, with BEVs accounting for a significant portion of sales. EV sales in the luxury market have been particularly strong, while more affordable EV options continue to enter the market. The elimination of NMP and PFAS chemicals in EV battery manufacturing could further drive sales by reducing costs and enhancing sustainability.
The US Department of Energy’s Loan Programs Office has been supporting EV manufacturing through funding programs, which could lead to improvements in the domestic battery supply chain and increased investments from companies like Stellantis and Rivian. The Neocarbonix® technology from Nanoramic offers a sustainable solution for EV battery manufacturing, aligning with the goals of the energy transition towards green energy solutions. Overall, the advancements in EV battery technology contribute to a more sustainable and cost-effective future for electric vehicles.
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