ITOCHU invests strategically in Nanoramic to quicken the worldwide commercialization of Neocarbonix for superior batteries.
Nanoramic Secures Strategic Investment from ITOCHU Corporation
Nanoramic, Inc., a leading innovator in battery technology, has announced a significant investment from ITOCHU Corporation. This strategic partnership is set to accelerate the global commercialization of Nanoramic's Neocarbonix battery technology and products.
ITOCHU Corporation, a renowned Japanese trading company, has made a strategic investment in Nanoramic. The investment follows a $44 million funding round co-led by General Motors Ventures and Catalus Capital, with participation from Samsung Ventures. This investment also includes participation from existing investor Top Material, who continues to provide world-class infrastructure as a key scale-up partner for Nanoramic.
The partnership with ITOCHU provides a direct solution to the supply chain challenges of global expansion for Nanoramic. ITOCHU's world-class logistics network will be integrated with Nanoramic's operations, with ITOCHU serving as a pivotal logistics partner for the company. Together, ITOCHU and Top Material create a robust, de-risked global supply chain for customers adopting Neocarbonix.
The continued support from investors like Top Material is significant for Nanoramic as it enters a new phase of growth. The company is thrilled to welcome ITOCHU as a new investor and looks forward to the opportunities this partnership will bring.
Neocarbonixยฎ is designed to improve battery cost, energy density, power, and fast-charging performance. Nanoramic has recently commenced commercial shipments of Neocarbonix from its new headquarters in Woburn, Massachusetts. The investment from ITOCHU and Top Material is a testament to the significant commercial momentum of Neocarbonix.
This investment is expected to contribute to the reliable path for customers to adopt Nanoramic's Neocarbonix technology with confidence. The strategic partnership with ITOCHU will help catalyze the global adoption of Neocarbonix, making it an exciting time for Nanoramic and the battery technology industry as a whole.
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