Ion Storage Systems, Inc. (ION) announced the closing of its Series A funding round, exceeding its original target of $30 million.
Investments include those from Toyota Ventures, Tenaska, Bangchak Corporation and other investors, in addition to the investments from its lead investors.
“We are thrilled to add this exceptional group of investors and partners to our oversubscribed round to support ION’s next phase of growth,” said Ricky Hanna, ION’s CEO. “As ION prepares to meet the overwhelming demand for safe, cost-efficient and energy-dense batteries, our team has grown to meet the challenge. ION’s battery performance and safety far exceeds what traditional lithium ion can offer and will become the benchmark for battery design for decades to come.”
“ION’s bi-layer cell design is a breakthrough for the industry,” said Lisa Coca, climate fund partner for Toyota Ventures. “The architecture addresses the technological barriers that have histori
