Coreshell Technologies raised a US$30 million Series B round. Ferroglobe PLC and Access Industries co-led the investment. The company develops battery technology that removes Chinese critical materials from anode and cathode supply chains.
Funding so far
The round also included ADS, Helios Ventures, Pegasus Tech Ventures, Mana Ventures, and Entrada Ventures. It follows a US$50 million Department of Energy grant awarded in August. Coreshell said the new capital will accelerate manufacturing scale-up and customer programs.
Supply chain pressure
Most conventional lithium-ion batteries rely on graphite. More than 90% of the world's graphite is processed in China. China tightened graphite export controls in 2023.
How the technology works
Coreshell replaces graphite with metallurgical silicon, a low-cost material produced in the US. The anode uses silicon's performance and cost advantages without expensive silane-based materials. A cathode agreement with L&F Co., Ltd. provides long-term access to lithium.
Coreshell is building the first giga-scale factory for cells using metallurgical silicon anodes. The facility expands domestic production of the technology. The company will use the Series B capital to support further manufacturing and customer programs.