AM Batteries

AM Batteries develops a dry-electrode manufacturing process for lithium-ion battery production, eliminating toxic solvents from battery manufacturing through its proprietary Powder-to-Electrode dry coating technology. The company's three-step process includes dry mixing (combining cathode/anode active powder with polymer binder and conductive additive), powder deposition (applying dry mixed electrode powder onto a substrate via a dry powder deposition system), and calendering (mechanical compression and binding of particles to the substrate via a hot calendering system). This solvent-free approach delivers significant advantages over traditional wet coating: a 5x smaller factory footprint, up to 75% lower energy usage, lower CapEx and OpEx, and improved electrochemical performance. For a nominal 30 GWh factory in North America, AM Batteries estimates approximately $123 million per year in total cost savings, approximately 203 ktpa CO2 cut (equivalent to 44,000 ICE cars removed from the road), approximately 532 GWh per year less energy consumed, and approximately 6% cell unit cost decrease (~$4.11/kWh). The technology offers broad material compatibility including LFP, NMC, NCA, LCO, graphite, and silicon, and is compatible with solid-state and sodium-ion battery systems. AM Batteries differentiates itself through its turnkey dry coating process that addresses the fact that drying and solvent recovery account for up to 50% of factory energy consumption and approximately 30% of factory CapEx in traditional wet coating manufacturing. Founded in 2016 and headquartered in Massachusetts, United States, AM Batteries has raised approximately $74 million in a Series B round backed by Anzu Partners, TDK Ventures, Foothill Ventures, Toyota Ventures, Zeon Ventures, SAIC Capital, VinFast, Doral Energy Group, Creative Ventures, USCAR, Porsche Ventures, RA Capital Management, Asahi Kasei, Industry Ventures, Wilson Sonsini Investments, and Planetary Health Alliance.