TeraWatt Technology, a lithium-ion battery manufacturer, has completed the final close of its Series C funding round. The company has not disclosed the total funding amount.
The final close attracted new investors, including Japan Green Investment for Carbon Neutrality (JICN), Kyuden International Corporation, JERA, through its corporate venture capital arm, JERA Ventures, and ITOCHU Technology Ventures, with JERA Ventures investing approximately $10 million in the company.
They join earlier investors such as Khosla Ventures, Temasek, JIC Venture Growth Investments, Japan Bank for International Cooperation, GX Acceleration Agency, and G. K. Goh Ventures.
The company plans to use the funding to further invest in its initial mass production facility, enabling phased capacity expansion. It also expects the strategic partnerships to accelerate both production scale-up and market deployment.
Ken Ogata, Co-founder and CEO of TeraWatt Technology, said, “Amid rising geopolitical tensions, particularly in the Middle East, energy security and decarbonization have never been more critical. Next-generation batteries are fast becoming strategic national assets, essential not only for the reliable integration of renewables but also for defense readiness and infrastructure resilience. The capital and business alliances with leading energy companies bring us closer to our vision of delivering end-to-end value, from manufacturing through deployment.”
As part of the funding, TeraWatt has entered into capital and business alliances with Kyuden International Corporation and JERA. In collaboration with Kyuden International, the companies will jointly explore battery storage business opportunities and pursue expansion from Japan to global markets.
In 2023, the company secured an undisclosed pre-Series C funding round, backed by investors such as the Development Bank of Japan, INPEX Corporation, JIC Venture Growth Investments, Rakuten Capital, Mori Trust, GLIN Impact Capital, and several individual investors.
According to Mercom’s Annual and Q4 2025 Funding and M&A for Energy Storage report, VC funding in the Energy Storage sector in 2025 increased 30% YoY, to $4.8 billion across 75 deals, up from $3.7 billion across 84 deals in 2024.
