TeraWatt Technology Next-generation lithium-ion battery TeraWatt Technology completes Pre-C funding round

TeraWatt Technology Co., Ltd.
Next-Generation Lithium-Ion Battery TeraWatt Technology Completes Pre-C Funding Round
Toward the social implementation of electric devices by launching a mass production demonstration large-scale development base

TeraWatt Technology Inc. (Headquarters: California, USA) has raised funds in the Pre-C round. In addition to existing investors Temasek, Khosla Ventures, JAFCO Group Co., Ltd., Development Bank of Japan, INPEX Co., Ltd., JIC Venture Growth Investments Co., Ltd., Rakuten Capital, Mori Trust Co., Ltd., GLIN Impact Capital , and several other individual investors participated.
Using the funds procured this time, we will strengthen the pilot product lineup of high energy density and high power density lithium-ion batteries, launch a large-scale development facility for the purpose of mass production demonstration, and commercialize various electric devices. We will raise it to a more concrete phase.
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[The current state of the battery industry and the past and future of TeraWatt Technology]
In the realization of a sustainable society, “decarbonization” is attracting unprecedented attention in human history, and
decarbonization strategies are accelerating worldwide. The main driving force behind decarbonization is the electrification of various devices, and lithium-ion batteries, especially the next-generation lithium-ion batteries, which are the base industry that supports this, are attracting a great deal of attention around the world. In 2030, the global production scale of lithium-ion batteries will reach approximately 3,000 GWh, and the market size will grow to
approximately 40 trillion yen.
Under such circumstances, TeraWatt Technology, with the mission of “Electrification of everything for a sustainable society”, develops next-generation lithium-ion batteries that are significantly lighter, smaller, more powerful, and safer to drive than existing lithium-ion batteries. We are developing and aiming for commercialization. So far, we have developed and pilot manufactured batteries for small applications of about 5 to 8 Ah. It has passed the safety test items stipulated by the safety standard (IEC62133-2). With this Pre-C funding, we plan to strengthen the lineup of larger-capacity pilot products, demonstrate large-scale pilot manufacturing at large facilities for mass production, and accelerate collaboration through sample work with customers.
[Outline of funding]
Main investors in this round (in alphabetical order)
・INPEX Co., Ltd.
・GLIN Impact Capital Limited Liability Partnership
・Khosla Ventures
・JIC Venture Growth Investments Co., Ltd.
・JAFCO Group Co., Ltd.
・Development Bank of Japan
・Mori Trust Co., Ltd.
・Rakuten Capital
Purpose of procurement:
・Strengthen lineup of pilot products
・ Pilot production demonstration at a large-scale facility for mass production [Comment from Ken Ogata, co-founder and CEO]
“With this Pre-C round of funding, we are excited to advance our existing pilot manufacturing to higher quality and scale. We are delighted to be able to advance our mission of electrification for a sustainable future with the participation of all of you, as well as the participation of new and excellent Japanese investors.”
[About TeraWatt Technology]
Headquartered in California, USA, we are developing lightweight, compact, high-output next-generation lithium-ion batteries. In addition, the Japanese subsidiary, which is a 100% subsidiary, operates its business with support from the Organization for Small and Medium Enterprises and Regional Innovation.
Company Profile
Head office name: TeraWatt Technology Inc.
Representative: Co-Founder and CEO Takeshi Ogata
Headquarters Location: 1504 McCarthy Blvd, Milpitas, CA 95035, USA Founded: January 2020
Japanese company name: TeraWatt Technology Co., Ltd.
Representative: Ken Ogata, Representative Director
Location: Tokyo Tech Yokohama Venture Plaza W301, 4259-3
Nagatsuta-cho, Midori-ku, Yokohama City, Kanagawa Prefecture Established: December 2019
URL: https://www.terawatt-technology.com/

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