AM Batteries is a technology company.
AM Batteries has raised $69.0M across 2 funding rounds.
AM Batteries has raised $69.0M in total across 2 funding rounds.
AM Batteries (AMB) is a technology company specializing in dry-electrode manufacturing for lithium-ion batteries, headquartered in Billerica, Massachusetts.[1][2][5] It develops the proprietary Powder to Electrode™ dry coating process, which eliminates toxic solvents and energy-intensive drying from traditional wet slurry methods, enabling battery manufacturers to achieve 30-40% lower capital costs, 50-60% lower operating costs, 45-75% less energy consumption, and a 5x smaller factory footprint while delivering superior electrochemical performance.[1][2][3][5][6] The chemistry-agnostic technology serves EV, grid storage, consumer electronics, and defense sectors by providing turnkey systems, custom electrodes, and process expertise to reduce costs and boost energy density, faster charging, and sustainability.[1][2][3][6] Recognized in Time magazine’s Best Inventions of 2024, AMB opened customer access to its facility in 2025 and raised $25M in Series A funding, signaling strong growth momentum amid surging global battery demand.[1][2][4]
Founded in 2020, AM Batteries emerged amid industry shifts toward sustainable battery production, catalyzed by Elon Musk's announcement of Tesla's 4680 cells using dry electrode processes to cut costs by 40%.[2][8] Key leaders include CEO Lie Shi, Co-founder and President Yan Wang, CMO Hieu Dong, and Mechanical Engineer Joel Hauerwas, who transitioned from Autodesk Inventor to advanced tools for scaling by 2024.[1][2][3][4] Early traction built on developing solvent-free dry coating, leading to pivotal moments like 2024 Time recognition, $25M Series A led by Anzu Partners with TDK Ventures and Porsche Ventures, and 2025 facility opening for customer electrode sales and pilot lines.[1][2][4][8] This positioned AMB to capitalize on the "American battery revival" with major player discussions.[1][8]
AM Batteries rides the exploding demand for affordable, sustainable batteries driven by EV adoption, grid storage, and electrification, where traditional wet processes hinder scalability due to high costs and emissions.[1][2][3] Timing aligns with US supply chain security efforts, Tesla/LG pivots to dry methods, and global shifts post-2020, enabling "American-made" alternatives that cut carbon footprints and pass savings to consumers.[1][2][3][8] Market forces like material flexibility for high-nickel cathodes and partnerships (Toyota, Porsche Ventures) accelerate commercialization, influencing ecosystems by standardizing dry coating for cleaner gigafactories and broader adoption in automotive/energy storage.[3][4][8]
AM Batteries is poised to dominate dry-electrode tech with pilot line sales to select customers and major OEM talks, scaling via $25M funding into full commercialization by 2026.[1][4][8] Trends like solid-state/sodium-ion compatibility, energy density pushes, and US manufacturing incentives will propel growth, potentially reshaping 40%+ of electrode production as wet processes fade.[2][3][6][8] Its influence may evolve from equipment supplier to ecosystem builder, enabling cost-effective batteries that power the EV/grid revolution—transforming Lie Shi's vision of dramatic cost reductions without performance tradeoffs into industry reality.[1]
AM Batteries has raised $69.0M in total across 2 funding rounds.
AM Batteries's investors include At One Ventures, Breakthrough Energy Ventures, Chrysalix Venture Capital, Creative Ventures, EDP Ventures, GE Ventures, GS Futures, Action Potential Venture Capital, Anzu Partners, Energy Impact Partners, Jay, QueensBridge Venture Partners.
AM Batteries has raised $69.0M across 2 funding rounds. Most recently, it raised $44.0M Series B in November 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2023 | $44.0M Series B | At One Ventures, Breakthrough Energy Ventures, Chrysalix Venture Capital, Creative Ventures, EDP Ventures, GE Ventures, GS Futures | |
| Oct 1, 2022 | $25.0M Series A | Action Potential Venture Capital, Anzu Partners, At One Ventures, Creative Ventures, EDP Ventures, Energy Impact Partners, GE Ventures, GS Futures, Jay, QueensBridge Venture Partners, RA Capital, Seventure Partners, Mo El-Bibany, Tim Ferriss |