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Li-ion battery maker Leyden Energy raises $10M in Series C financing; targeting stop-start
24 January 2013
Leyden Energy, Inc., a developer and manufacturer of advanced batteries, has raised $10 million in Series C financing from existing investors, including New Enterprise Associates (NEA), Lightspeed Ventures, Sigma Partners and Walden International. The company closed a $20-million Series B round in August 2011.
The new round will help fund productization and commercialization of Leyden Energy’s next-generation battery chemistries, built on research and development (R&D) advancements in both silicon anode (Si-anode) technology for mobile consumer electronics applications and advanced lithium ion (Li-ion) chemistry for start-stop automotive applications.
Building off its lithium-imide (Li-imide) chemistry platform, which leads to fundamental improvements in battery performance based on electrolyte innovation, Leyden Energy says it has engineered new technology breakthroughs in silicon anode. The new chemistry promises to boost energy density and meet the rigorous cycle life and reduced swelling battery requirements for thin mobile consumer electronics. The company will concurrently focus on low-cost breakthrough performance of Li-ion batteries in stop-start automotive applications in response to rapid adoption of stop-start vehicle technology.
During 2012, Leyden Energy commercialized its Li-imide battery chemistry and continued its R&D focus on silicon anode and other emerging technologies. The company completed build-out of pilot manufacturing and testing facilities at its Fremont, Calif. headquarters, where its product R&D is located.
We believe the battery chemistry that will deliver the biggest impact over the next decade is not available at commercial scale today. For the markets that have the most promise and most rigorous requirements—consumer electronics, automotive, etc.—it’s going to take new chemistry innovations to make significant leaps in performance. We’ve made some remarkable breakthroughs in silicon anode that we plan to productize and commercialize in the months to come. We are very excited about our progress and are aggressively looking for battery technologists to join our team. We believe these breakthroughs will push us to the forefront of the thin mobile consumer electronics market.—Rick Wilmer, president and CEO
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