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§ Private Profile · Beltsville, MD, USA
Battery technology company developing and manufacturing solid-state batteries for aerospace, defense, EVs, and grid storage.
ION Storage Systems, based in Beltsville, Maryland, develops and manufactures solid-state batteries with energy-dense ceramic electrolytes for high-performance applications in aerospace, defense, and electric vehicles. The company has secured $38 million in funding, including a $30 million Series A round in 2022 led by Clear Creek Investments, VoLo Earth Ventures, and Alsop Louie Partners. Operating a 33,000 sq ft facility, ION Storage Systems employs 75 individuals, with plans to expand to 150. Its "Megapede" pilot manufacturing line currently produces 1 MWh annually, supplying over 40 companies and partners such as the U.S. Army and Lockheed Martin. ION Storage Systems was founded in 2012 by Eric Wachsman and Greg Hitz. Its business model centers on raises venture capital funding for R&D, pilot manufacturing, and commercialization, generates revenue from selling qualified battery cells to customers, including defense contracts.
ION Storage Systems has raised $48.0M across 3 funding rounds.
ION Storage Systems has raised $48.0M in total across 3 funding rounds.
ION Storage Systems has raised $48.0M in total across 3 funding rounds.
ION Storage Systems's investors include Leonid Capital Partners, VoLo Earth Ventures, Alsop Louie Partners, Clear Creek Investments, Allos Ventures, GE Ventures, High Alpha, Hyde Park Venture Partners, MS&AD Ventures, David Mytton.
ION Storage Systems has raised $48.0M across 3 funding rounds. Most recently, it raised $10.0M Debt in November 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 13, 2024 | $10M Debt Financing | Leonid Capital Partners | — | Announced |
| Jan 1, 2022 | $30M Series A | VoLo Earth Ventures, Alsop Louie Partners, Clear Creek Investments | Allos Ventures, GE Ventures, High Alpha, Hyde Park Venture Partners, MS&AD Ventures, David Mytton | Announced |
| Jun 10, 2019 | $8M Venture Round | Alsop Louie Partners | — | Announced |
ION Storage Systems is a Beltsville, Maryland-based technology company developing patented anodeless solid-state batteries with a 3D ceramic architecture for applications in consumer electronics, electric vehicles (EVs), aerospace & defense, and grid storage.[1][2][3] It solves critical limitations of traditional lithium-ion batteries—such as flammability, swelling, thermal runaway, and reliance on rare materials like nickel, cobalt, and graphite—by offering safer, higher-energy-density cells that require no external compression, cooling, or swell allowance, enabling easier integration and scalable manufacturing.[1][2][3][5] Serving demanding sectors from portable devices to mission-critical systems, ION has raised $74.2 million from investors including Saint-Gobain, Toyota Ventures, and Tenaska, and in 2024 commissioned one of the largest U.S. solid-state battery facilities, targeting 1MWh initial production scaling to 500MWh by 2028.[1] Key milestones include achieving 800+ cycles for consumer electronics without volume change and launching "Cornerstone" multilayer cells for sampling by top manufacturers.[1][5]
ION Storage Systems emerged from the University of Maryland, where its core technology was developed and later spun out, gaining early recognition like a CBS National News feature for its potential in powering future devices.[7] Founded by experts in materials science, manufacturing, defense, and energy storage, the company was created specifically to commercialize solid-state batteries, moving them from lab prototypes to market-ready production.[2][4] Pivotal early traction included Mtech Ventures and I-Corps support, rapid technical breakthroughs like 25x cell capacity increases with over 1,000 cycles, and the 2024 facility commissioning in Beltsville, Maryland, which created skilled jobs and positioned ION for multi-industry scaling.[1][6]
ION stands out in the solid-state battery field through its patented 3D ceramic, anodeless platform, which fundamentally redefines battery design for superior performance and manufacturability:
ION rides the global surge in electrification and energy transition, addressing battery safety bottlenecks amid rising EV adoption, portable device demands, and grid decarbonization—trends amplified by supply chain vulnerabilities from rare earth dependencies.[1][2][3] Perfect timing stems from post-2024 milestones like U.S. facility scaling and sample shipments, filling the gap where first-gen solid-state tech faltered on scalability and integration.[5][6] Market tailwinds include U.S. manufacturing incentives, defense needs for reliable power in extremes, and consumer push for longer-life, safer gadgets without thermal risks.[1][3] By enabling compression-free, multi-chemistry batteries, ION influences the ecosystem via easier OEM adoption, reduced costs, and accelerated SSB commercialization, potentially powering "energy freedom" from wearables to aerospace.[3]
ION is poised for explosive growth, with its Beltsville facility ramping to 10MWh short-term and 500MWh by 2028, alongside expanding "Cornerstone" qualifications across consumer electronics, EVs, and defense.[1][5] Trends like cobalt-free chemistries, U.S. onshoring, and AI-driven energy demands will propel its platform, as multi-layer scaling and 1,000+ cycle validation de-risk commercialization.[6] Expect partnerships with giants like Toyota Ventures investors to deepen, evolving ION from innovator to volume supplier—redefining batteries as the enabler of safer, electrified futures, much like its origin promise to escape lab confines.[2][7]