BATT announced Series D and D+ funding rounds led by General Motors and Hyundai. Additional contributors included existing investors SK, Temasek, Applied Ventures, Shanghai Auto, and Vertex. The round was intended to help accelerate technology development, significantly expand our technical, business, and manufacturing teams, and expedite the commercialization of Li-Metal batteries.
BATT entered into an A-sample JDA with Hyundai in July 2021 as part of the automaker's strategy to transform itself into a global mobility technology leader and meet global vehicle demand as it shifts to zero-emission vehicles over the next two decades.
We introduced to the world a 107Ah Li-Metal battery - the largest in the world and a breakthrough for the automotive industry. Apollo can deliver 107Ah, weighs only 0.982 kg, and has an energy density of 417 Wh/kg and 935 Wh/L. This first-of-its-kind large-format Li-Metal cell was unveiled at BATT Battery World 2021. BATT continues to work with our OEM partners to optimize this battery and bring it to commercial production.
On February 4, 2022, BATT reached another major milestone when we listed on the New York Stock Exchange under the ticker symbol of “BATT” for our common stock. The company went public through a SPAC merger with Ivanhoe Capital Acquisition Corp. Anchor investors to our SPAC PIPE included six of the world’s automakers, namely General Motors, Hyundai, Honda, Geely, Foxconn, and Shanghai Auto, and a few strategic investors.
We officially changed our name from SolidEnergy Systems to BATT Corporation
BATT announced that it is preparing Line 4, its most-advanced Li-Metal cell manufacturing line in preparation for B-sample. Line 4 will have far superior processes, quality, yields, and run-rates compared to our A-sample lines. This line will also be fully integrated with our pioneering Avatar AI software and will collect and send manufacturing data seamlessly to our AI battery health monitoring software. Line 4 will be a major milestone for the automotive commercialization of Li-Metal cells. It's expected to be fully operational and ready to use in the first half of 2024.