NanoGraf, a company developing silicon-anode technology for batteries, has raised USD 65 million in a Series B funding round co-led by Volta Energy Technologies and CC Industries (CCI). This brings the company’s total funding to USD 89.5 million.

The company intends to use the funds to develop its silicon-anode production in Chicago, in alignment with the US Inflation Act, which aims to localize battery production and battery material sourcing in the US. The company also plans to continue the development, production, and supply of advanced lithium-ion technologies.

Founded in 2012, NanoGraf is an advanced battery material company that has developed a patented silicon-anode technology for lithium-ion batteries. The company has developed strategic partnerships with over 12 electric mobility companies. In October 2022 , NanoGraf set a new industry benchmark for the most energy-dense lithium-ion 18650 cell, which has over 20% higher energy density when compared to its peers. NanoGraf also received a USD 10 million contract in November 2022 , to develop the first advanced silicon-anode manufacturing facility in the US.