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Zeon Corporation invests in Mitra Chem; LFP cathode materials

Japan-based Zeon Corporation, through its venture capital arm Zeon Ventures Inc., has invested in Mitra Future Technologies, Inc., a US startup developing cathode materials for lithium iron phosphate (LFP) batteries. (Earlier post.)In addition, Zeon plans to explore future collaborations associated with this investment.

Mitra Chem is one of the select few companies in the United States aiming for the large-scale commercial production of LFP batteries, which it seeks to achieve using its proprietary machine learning platform to develop cathode materials for these batteries. It is also developing high-volume, low-cost cathode materials for next-generation batteries that have even higher energy density than LFP batteries.

Zeon will work with Mitra Chem by developing an electrode process suitable for Mitra Chem’s battery materials. Specifically, Zeon will also make full use of the expertise that it has cultivated in designing binders and in evaluating and analyzing lithium-ion batteries, toward proposing an environmentally friendly, low-cost electrode process suitable for Mitra Chem’s cathode materials and to assist in driving the company’s further growth.

Zeon also recently invested in Verdagy, a US startup that has developed scalable, cost-effective green hydrogen electrolysis technology. In addition, Zeon plans to explore future business collaborations associated with this investment.

Verdagy has developed a membrane-based, advanced alkaline electrolyzer module (eDynamic) that is capable of flexibly modulating hydrogen production volume in response to fluctuations in the price of renewable energy, thus offering a solution for producing green hydrogen at optimal cost that is expected to be implemented in various industries.

Zeon will work with Verdagy to determine the feasibility of implementing green hydrogen production facilities using Verdagy’s electrolyzer technology in chemical plants.


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