Coreshell Raises $24M To Commercialize the Lowest-Cost and Domestically-Sourced Lithium-Ion Battery Anode
Rhea-AI Summary
Coreshell has secured $24M in strategic funding led by Ferroglobe PLC (NASDAQ: GSM) and Zeon Ventures to scale production of its innovative 60 Ah battery cells using 100% domestically-sourced metallurgical silicon. The funding will support expansion of their 4 MWh manufacturing facility in San Leandro, California, and plans for a new 100 MWh facility.
The company's breakthrough technology replaces traditional graphite with metallurgical silicon in battery anodes, achieving 30-40% higher energy density and up to 25% cost reduction. Test results show their cells can achieve over 475 cycles while maintaining 90% capacity, with expectations to exceed 1000 cycles. The batteries can charge from 10-80% in under 15 minutes and demonstrate safety levels comparable to traditional graphite-based batteries.
Commercial samples will be delivered to global automakers in 2025, addressing key EV industry challenges including range, supply chain resilience, and cost reduction.
Positive
- Secured $24M strategic funding for production scaling
- Technology achieves 30-40% higher energy density than traditional batteries
- Cost reduction of up to 25% compared to graphite-based batteries
- Fast charging capability: 10-80% in under 15 minutes
- Strong strategic partnership with Ferroglobe (GSM) ensures material supply
- Domestic supply chain reduces dependency on foreign graphite
Negative
- Current prototype cells achieve only 475 cycles vs target of 1000 cycles
- Production facilities still in development phase
- Commercial validation by automakers still pending
News Market Reaction
On the day this news was published, GSM gained 0.74%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Strategic Funding Round to Scale Cell Production and Deliver Next-Generation EV Batteries to Global Automakers in 2025
This funding will go towards scaling Coreshell's production at its newly-built 4 MWh manufacturing facility in
"This strategic funding round is a critical step in scaling production and delivering commercial samples to leading automakers who have already tested the low-cost metallurgical silicon anodes in our cells with promising results and are eager to receive commercial-scale cells for further validation," said Jonathan Tan, CEO of Coreshell. "As the global EV industry reaches an inflection point, automakers recognize that alongside range, supply chain resilience - driven by reliance on foreign countries for graphite production - and cost reduction are key to overcoming adoption barriers. Coreshell is addressing these challenges by replacing graphite with domestically sourced metallurgical silicon, reducing costs, strengthening the supply chain, and improving sustainability."
Expanding to Meet Market Demand
Funding will accelerate Coreshell's efforts to meet the growing demand for its silicon-based batteries and will also be used to expand the company's executive and R&D teams to refine the production processes for its battery cells, which are made using standard equipment from
A Strong Strategic Partnership
As Coreshell's key materials partner, Ferroglobe provides the micrometric silicon essential for this breakthrough battery technology.
"Based on extensive validation by our team and rigorous lab testing, we believe Coreshell's battery technology shows the most promise to fast-track the EV industry in reducing cost and tackling supply chain issues," said Benoist Ollivier, Chief Technology & Innovation Officer of Ferroglobe. "Our strategic partnership and the excellent results from Coreshell's technology are the reasons why we've further invested in the company. This is a critical moment to scale a domestic supply chain and drive success in the market."
A Breakthrough in Battery Technology
Until now, no other battery company has been able to effectively unlock the power of metallurgical silicon. Coreshell has revolutionized the entire cell design by creating battery chemistries made with earth abundant materials adding 30+% more range while decreasing cost by up to
The test data of Coreshell's battery cells will be unveiled at the 2025 International Battery Seminar in March. A few key takeaways include:
- Energy Density: With 80 percent silicon anode, the cells provided 30
-40% higher energy density than graphite-based cells, offering a longer driving range with a smaller and lighter-weight battery. - Cycles: Prototype cells achieved over 475 cycles with greater than
90% of its original capacity and continue to cycle. Serial production cells are expected to exceed 1000 cycles to80% of original capacity. - Charging Rate: The battery consistently charged from 10 - 80 percent in under 15 minutes for hundreds of repeated cycles, delivering great fast-charging performance.
- Safety: Unlike many other silicon technologies, Coreshell's silicon anode batteries proved to be just as reliable and safe as traditional graphite-based batteries, but with significantly higher energy density.
About Coreshell
Coreshell provides the lowest cost, high performance silicon anodes on Earth. Coreshell's proprietary technology unlocks the performance of metallurgical silicon, which has ten times the capacity than current battery anodes at significantly lower costs. Headquartered in
Media Contact
Nadia Jamshidi
nadia@goodnature.ventures
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SOURCE Coreshell Technologies
FAQ
What are the key performance metrics of Coreshell's new battery technology with GSM's silicon?
How much funding did Coreshell raise and what is GSM's role in the investment?
What production capacity is Coreshell targeting with the new GSM-backed funding?
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