Sydney-based Sicona Battery Technologies, a developer of innovative silicon metal-based silicon-composite battery anode technology, has raised 22 million Australian dollars ($15.1 million) in Series A funding for its innovative silicon-composite battery anode technology. Himadri Speciality Chemical Ltd, Artesian, and Electrification & Decarbonization AIE LP led the funding round, with Riverstone Ventures, Chaos Ventures, Investible Climate Tech Fund LP, and Club Investible also participating. The company develops cost-effective and scalable battery materials technology for lithium-ion batteries, enabling electric mobility and renewable energy storage. Sicona plans to utilize the funds to advance its development plans in Australia and the U.S. The company are currently conducting engineering studies, site selection, and customer qualification for a 20 kilo-tonnes per annum (kpta) silicon-carbon production plant, initially starting with 5kpta in phase 1. This commercial-scale facility will be located in the southeastern U.S. to serve the U.S. market with materials compliant with the Inflation Reduction Act (IRA).
Summary: Sicona Battery Technologies, based in Sydney, Australia, has secured $15.1 million in Series A funding for its silicon-composite battery anode technology. The company aims to advance its battery materials technology for lithium-ion batteries, facilitating electric mobility and renewable energy storage. Sicona plans to establish a large-scale production plant in the southeastern U.S. to cater to the U.S. market.