LG Energy Solution, a global manufacturer specializing in lithium-ion batteries, has made a significant equity investment in Sion Power, an Arizona-based startup renowned for its core patents in lithium metal battery technology. The announcement underscores LG Energy Solution’s commitment to staying at the forefront of innovation in the battery industry.
Sion Power, founded in 1994, has garnered attention for its work in lithium metal battery technology. This emerging technology employs a lithium metal anode, as opposed to traditional graphite or silicon anodes, resulting in superior energy efficiency compared to existing lithium-ion batteries.
Boasting a patent portfolio of 470 patents, Sion Power has developed innovative solutions, including techniques to mitigate dendrite formation. LG Energy Solution’s investment aims to position the company strategically in the evolving landscape of battery technology by pre-empting innovative advancements and fostering a leading role in the development of next-generation batteries.
The investment will be facilitated through LG Technology Ventures (LGTV), LG Energy Solution’s corporate venture capital firm, and Bricks Capital Management (BCM), a private equity investment firm in which LG Energy Solution has committed to investing.
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