New Renault-Nissan-Mitsubish venture fund to invest up to $1B over five years; 1st investment in Ionic Materials for solid-state electrolyte
Renault-Nissan-Mitsubishi launched Alliance Ventures, a new corporate venture capital fund that plans to invest up to $1 billion to support open innovation over the next five years. In its first year, the fund expects to invest up to $200 million in start-ups and open innovation partnerships with technology entrepreneurs focused on new mobility, including vehicle electrification, autonomous systems, connectivity and artificial intelligence.
The first deal by Alliance Ventures will be a strategic investment in Ionic Materials, a US-based company developing solid-state cobalt-free battery materials. The equity acquisition coincides with the execution of a joint-development agreement with the Alliance for the purpose of R&D cooperation.
Ionic, based in Massachusetts, is the developer of a pioneering solid polymer electrolyte that enables improved performance and cost effectiveness of high-energy density batteries for automotive and multiple other applications.
Ionic has demonstrated that its polymer electrolyte is compatible with chemistries that have much higher theoretical performance limits than the active materials used in current state-of-the-art batteries. Higher energy density chemistries can now be developed and brought to market effectively.
Ionic Materials’ electrolyte is a platform technology enabling the use of a wide range of electrode chemistries, including lithium metal anodes, sulfur cathodes, and more, resulting in much higher energy density and performance.
Key properties of Ionic Materials’ polymer include:
- Up to 1.3 mS/cm at room temperature
- Lithium transference number of 0.7
- High voltage capability (5 volts)
- Can accommodate high loadings in the cathode
- High elastic modulus
- Low cost precursors
- Stable against Lithium
- Conducts multiple ions