© scanrail dreamstime.com Electronics Production | December 17, 2018
ITOCHU invests in a manufacturer lithium-Ion batteries
Japanese ITOCHU Corporation announces that it has acquired equity shares issued through third-party allotment by 24M Technologies, Inc., a company focused on research and development of semisolid lithium-ion batteries.
Through the investment, ITOCHU and 24M will jointly promote production and development of next-generation lithium-ion batteries. 24M engages in the research and development of semisolid lithium-ion batteries, which is said to surpass existing lithium-ion batteries in terms of safety, energy density, manufacturing cost, and other aspects. The company operates a demonstration pilot plant in the United States. 24M will grant the license to the technology patent to multiple manufacturing partners and plans to construct a commercial production plant, aiming for its operation to commence in 2020. To respond to the demand for batteries that is growing all over the world, ITOCHU will develop 24M’s licensing business for semisolid battery manufacturing on a global scale and expand the battery manufacturing business, including the supply of battery components and the delivery of manufacturing equipment, which it operates with local partners from areas of demand.