Foley Hoag LLP recently represented SolidEnergy, developer of the “anode-free” battery, in its $12M Series B financing round. The company will use the funds to help establish partnerships with equipment suppliers, battery manufacturers and battery end users. The round was led by a major U.S. auto company, and syndicated by SAIC USA, Applied Ventures, LLC, and all existing investors who participated in the Series A round.
Founded in 2012 and based in Waltham, MA, SolidEnergy gained recognition with the development of the “anode-free” lithium metal battery. The company’s two material platforms, dual-layer electrolyte and ultra-thin lithium metal anode, provide transformational energy density and safety across all rechargeable lithium batteries and can be seamlessly integrated into existing Li-ion manufacturing capability.
Foley Hoag partner Mark Barnett and associates Jonathan Romiti and Sara Mattern advised SolidEnergy in the transaction.