SolidEnergy Systems takes in $34 mln Series C


Woburn, Massachusetts-based SolidEnergy Systems, a producer of advanced semi solid Li-Metal technology, has raised $34 million in Series C funding. The investors were not named. Also, SolidEnergy has appointed Bud Collins as chief operating officer. Collins is the former CEO of NEC Energy Solutions and ex-president of A123 Energy Solutions.

PRESS RELEASE

Woburn, MA – January 4, 2018; SolidEnergy Systems announced today that it has completed a $34M Series C fundraise, bringing the total funding to date to more than $50M.

SolidEnergy is a developer and producer of advanced semi solid Li-Metal technology, the lightest rechargeable cells in the world that can be manufactured using existing Li-ion manufacturing infrastructure.

The company also announced that Bud Collins, the former CEO of NEC Energy Solutions and President of A123 Energy Solutions has joined SolidEnergy Systems as COO. With extensive experience spanning nearly three decades, Bud brings valuable experience in management, product and business development to SolidEnergy during a period of rapid growth. As COO, Bud will lead and direct the company’s operations enabling further growth into the UAV, Wearables,

Smartphones and Electric Vehicles markets. “ I am very excited to join SolidEnergy Systems at this moment in time where they are entering into the commercialization phase of their technologies”, said Collins. “SolidEnergy’s ability to leverage existing infrastructure of cell manufacturers is a key enabler in bringing their technology to market quickly and with the highest quality”.

“We are grateful for the trust and support that our existing and new investors put in us and are thrilled to have a steady hand like Bud Collins at the operational helm as we continue to expand our product line and broaden our customer base”, said Qichao Hu, Founder and CEO of SolidEnergy Systems. “SolidEnergy plans to use the funds to expand our manufacturing capability both internally and through cell manufacturing partners.

About SolidEnergy Systems
Founded in 2012, as an MIT spinoff SolidEnergy developed and produces Li-Metal cells with >450Wh/kg and 1200Wh/L under the trademark Hermes™ (High Energy Rechargeable Metal Cells for Space) to customers in aeronautics, space, consumer drones, consumer electronics and automotive. Its main focus is on materials – anodes and electrolytes and manufacturing processes that are compatible with existing Li-ion cell manufacturing processes thus achieving scalability by using existing infrastructure and eliminating the need for costly infrastructure investments.

SolidEnergy is not just a battery company, its mission is to unlimit energy, enable a new era of creative freedom in technology and transform connectivity and transportation on land and in air.

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