KOCH INVESTS: Solid-State Battery Solutions With Blue Current

May 13, 2022 10:35 AM ET
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Koch Strategic Platforms is investing $30 million in Blue Current, a manufacturer of advanced solid-state batteries for electric vehicles, consumer electronics, grid storage and more.

HOW IT WORKS: Blue Current’s proprietary battery maximizes safety and performance, stabilizes temperature, and enables greater scalability across uses. The fully dry high silicon elastic composite battery combines the mechanical properties of polymers with the ionic conductivity of glass ceramics.

WHY KOCH INVESTED: As production of battery-powered devices increases, more forms of energy storage are necessary. Blue Current’s technology enables fire resistance, high energy density and a longer life cycle.

The funding will accelerate commercialization of the company’s technology and the construction of its first megawatt-scale factory in California.

“Solid-state battery technology will play a pivotal role in global energy transformation,” said Jeremy Bezdek, managing director for KSP. “Our extensive diligence indicated that Blue Current has an advantaged intellectual property position that has the potential to be disruptive in the solid-state battery space.”

WHAT’S NEXT: Blue Current is developing a 22,000-foot production-ready facility in Hayward, California, with state-of-the-art wet and dry labs, battery cycling and high-bay logistics space. The battery is in early-stage testing with automotive customers and will expand to consumer electronics and other market segments.

THE BIG PICTURE: Blue Current is the latest investment from KSP in the energy value chain, part of over $1.2 billion since 2021.

These include investments in Li-Cycle, Aspen Aerogels, Eos and Standard Lithium.

GO DEEPER: Read more about the announcement here.