Mitra Chem

Mitra Future Technologies Inc. (Mitra Chem) is a US-based lithium-ion battery materials manufacturer developing iron-based cathode materials for EVs and grid-scale energy storage systems. The company claims that its in-house machine-learning technology and manufacturing process is able to shorten product commercialization time by over 90%. To support this, Mitra has established an R&D facility that, with the use of AI, is able to synthesize and test thousands of cathode designs per month.

Furthermore, Mitra states that its iron-based cathodes provide a more efficient charge, hold more capacity, and extend the lifespan of the battery using more sustainable materials than nickel- and cobalt-based cathodes. The company intended to begin commercial production in 2025.

Key customers and partnerships

In August 2023 , Mitra Chem partnered with General Motors to develop CAM such as lithium manganese iron phosphate (LMFP) for the latter’s EV propulsion architecture, the Ultium Platform. In September 2023 , Mitra Chem partnered with TechMet-Mercuria, where the latter agreed to be the company’s exclusive lithium chemicals procurement agent.

Funding and financials

Mitra Chem’s latest funding was in August 2023 , when the company raised USD 60 million in a Series B funding round led by General Motors. The company intended to use the funds to commercialize its iron-based cathode materials.