NanoGraf Corporation

NanoGraf Corporation develops high-density silicon anodes for lithium-ion batteries as an alternative to conventional graphite anodes. The company’s technology was developed in collaboration with researchers at Northwestern University and Argonne National Laboratory. NanoGraf’s anode material is a silicone-graphene composite, which is said to enhance energy density by around 50%. 

NanaGraf states that the proprietary combination of its silicon-based alloy and a protective inorganic and organic coating helps to stabilize the anode during charge and discharge (pure silicon anodes swell when charging and risks breaking the battery). NanoGraf also differentiates its proprietary manufacturing process from competitors that rely on vapor deposition-based systems. Instead, it follows a scalable wet chemistry process at its pilot manufacturing line in Japan.

In June 2021, NanoGraf announced the development of the “highest energy density” 18650 cylindrical lithium-ion cell in the world, which could provide a 28% longer run time than traditional cell chemistries. 

In December 2023, NanoGraf opened its first silicon oxide manufacturing facility in Chicago. The 17,000-sq-ft facility is set to have a production capacity of 35 tons per year, adequate for 24 million battery cells. In March 2024, the company opened a new 67,850 sq ft R&D facility in Chicago. Nanograph intends to use the new facility to expedite its supply of long-lasting batteries for US soldiers and also work toward commercialization.

Key customers and partnerships

As of February 2022, NanoGraf was working with more than 50 companies, including consumer electronics, household appliance, and power tool brands; and with over 12 strategic partners for electric mobility, including Fiat, GM, and Ford. 

The company has also received a total of USD 45 million from contracts with the US Department of Defense over the past few years. This includes a USD 8 million contract to increase the supply of batteries to soldiers in December 2023 and a USD 15 million contract to develop cross-compatible batteries for soldiers in the field in January 2024, respectively.

Funding and financials

In February 2024, Nanograf raised USD 65 million in a Series B funding round co-led by Volta Energy Technologies and CC Industries (CCI). The company intended to use the funds to develop its silicon-anode production in Chicago.

NanoGraf’s last funding was in July 2020, when it was awarded a grant of USD 1.65 million by the US Department of Defense to develop longer-lasting lithium-ion batteries to power military equipment. In July 2019, the company was awarded a USD 7.5 million EV battery R&D contract by the US Advanced Battery Consortium LLC (USABC).