Nanoramic, an energy storage and advanced materials company, secured $44 million in funding. General Motors Ventures (GM Ventures) and Catalus Capital co-led the round, with participation from Samsung Venture Investment Corporation (Samsung Ventures), Top Material, and existing investors, including Fortistar Capital and WindSail Capital Group.
Described as a “PFAS-free solution for lithium-ion batteries,” Nanoramic’s technology is designed to eliminate the need for conventional NMP solvents, a key component in traditional lithium-ion battery manufacturing, by enabling sustainable solvent alternatives. According to the company, it is compatible with existing manufacturing lines.
“Catalus is proud to co-lead this financing and support Nanoramic’s mission to revolutionize the energy storage industry with their innovative Neocarbonix technology. Nanoramic is solving the hardest challenges facing the battery industry, and they are poised to become a leader in the energy transition space. We look forward to working closely with the Nanoramic team to realize their vision,” said Saif Qazi, Vice President at Catalus Capital.
According to Mercom’s 9M and Q3 2024 Funding and M&A Report for Energy Storage and Smart Grid, VC funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease year-over-year compared to $8.6 billion in 68 deals in 9M 2023.
In June, Sila, a battery materials company, secured $375 million in a Series G funding round led by Sutter Hill Ventures, an existing investor, and funds and accounts advised by T. Rowe Price Associates. The round saw participation from new and existing investors, including Bessemer Venture Partners, Coatue, Perry Creek Capital, and others. Ardea Partners LP served as the exclusive financial advisor to Sila for its Series G round.
