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Caterpillar makes strategic investment in Fisker, with interest in solid-state battery tech

Fisker Inc., an e-mobility and technology company developing electric vehicles and proprietary solid-state battery technologies, announced a strategic investment from Caterpillar Venture Capital Inc., a wholly owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

In November 2017, Fisker’s scientists, including a co-founder of solid-state battery start-up Sakti3, filed patents this week on solid-state batteries. The patent includes claims over novel materials and manufacturing processes that are critical in achieving the required energy density, power and cost targets required for the widespread use of electric vehicles. (Earlier post.)

Fisker Inc.’s solid-state batteries present the next-generation post lithium-ion era of future battery technologies, that offer bulk electrodes with high energy densities, enhanced safety, faster charge times and lower costs. Fisker says that its solid-state batteries will feature three-dimensional electrodes with 2.5 times the energy density of lithium-ion batteries.

In January 2018 at CES, Fisker displayed a working solid-state battery in a case and an actual bulk battery without a case. The working battery was half the size of a cell phone battery, 2mm thick and with superior energy storage. (Earlier post.)

Caterpillar Ventures’ investment in Fisker illustrates a mutually recognized importance that electrification solutions will represent to multiple business segments in the future. While Caterpillar and Fisker serve fundamentally different industries, advancements in electrification technologies pose increasing importance and offer the potential to positively impact customer value for the right products.

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