About 24M

Driving the next step change in lithium-ion

A New Lithium-ion

Affordable energy storage for a sustainable planet

24M solves the grand challenge of energy storage with the invention of the semisolid lithium-ion battery, a revolutionary technology for the architects of our energy future. By upending the design of the battery cell, as well as how the batteries are made, the company solves the critical, decades-old challenge associated with the world’s preferred form of energy storage: reducing its high cost while maintaining its strengths. Founded and led by some of the battery industry’s foremost inventors, scientists and entrepreneurs, 24M is headquartered in Cambridge, Massachusetts, just blocks away from MIT in the heart of a dynamic innovation ecosystem.

The simple truth is that lithium-ion batteries are made the wrong way. The process is cumbersome. It’s wasteful. It’s woefully inefficient. 24M’s novel manufacturing process strips out the waste, speeds production and reduces the overall footprint to slash today’s lithium-ion battery costs by 50% and accelerate its adoption. We call it semisolid lithium-ion. A better process. A better battery. A better energy future.

24M Timeline

  • 2010

    Chiang, Carter and Wilder launch 24M with funding from leading venture capitalists and ARPA-e

    2011

    24M demonstrates 5x thicker electrodes than previously possible

    2012

    24M demonstrates end-to-end cell production in less than 15 minutes versus 24 hours in conventional

    2013

    Automated line eliminates coating, drying, calendaring, solvent recovery in traditional process

    2014

    Total investment > $50M. Company makes 9,000th full-size cell

  • 2015

    24M proves key high volume manufacturing unit operations

    2016

    Manufacturing scale-up and customer sampling
    underway

    2017

    Stay tuned

    2018

    Stay tuned

    2019

    Stay tuned

  • 11

The Management Team

Dr. Yet-Ming Chiang
Chief Scientist & Co-Founder
Rick Feldt
President, CEO & Chairman
Naoki Ota
CTO
Cameron Peters
CFO

Dr. Yet-Ming Chiang

Chief Scientist & Co-Founder

Dr. Chiang is a professor of Material Science and Engineering at MIT and one of the top battery researchers in the world. He previously co-founded American Superconductor and A123 Systems, has published more than 200 scientific articles and holds more than 60 patents. He serves on numerous government and academic advisory committees.

Dr. Chiang is a professor of Material Science and Engineering at MIT and one of the top battery researchers in the world. He previously co-founded American Superconductor and A123 Systems, has published more than 200 scientific articles and holds more than 60 patents. He serves on numerous government and academic advisory committees.

Rick Feldt

President, CEO & Chairman

Mr. Feldt has over 25 years’ experience as an operating executive in companies that design and manufacture complex products. He was the Chairman and CEO of Evergreen Solar, an integrated manufacturer of solar wafers, cells, and panels. He has lead numerous technology companies through significant periods of growth.

Mr. Feldt has over 25 years’ experience as an operating executive in companies that design and manufacture complex products. He was the Chairman and CEO of Evergreen Solar, an integrated manufacturer of solar wafers, cells, and panels. He has lead numerous technology companies through significant periods of growth.

Naoki Ota

CTO

Mr. Ota is a recognized global expert in lithium-ion batteries, having been present at the birth of the technology in Japan 25 years ago. He co-founded Quallion, the first lithium-ion manufacturer in the US, serving the medical and aerospace industries. Subsequently, as CTO and COO of Enerdel, he led the HEV, PHEV, EV and grid storage product lines and developed a 1GWh production capability.

Mr. Ota is a recognized global expert in lithium-ion batteries, having been present at the birth of the technology in Japan 25 years ago. He co-founded Quallion, the first lithium-ion manufacturer in the US, serving the medical and aerospace industries. Subsequently, as CTO and COO of Enerdel, he led the HEV, PHEV, EV and grid storage product lines and developed a 1GWh production capability.

Cameron Peters

CFO

Mr. Peters has an established track record in building and leading finance teams from startup through high growth phases. He has operating experience in manufacturing, material science and biotech companies, and has consulted to the utility and oil and gas sectors.

Mr. Peters has an established track record in building and leading finance teams from startup through high growth phases. He has operating experience in manufacturing, material science and biotech companies, and has consulted to the utility and oil and gas sectors.

The 24M Team

Our team represents over 10 nationalities and is guided by a philosophy of respect and results. Our engineers have a proven track record in innovating and delivering products and processes at mass scale. We are driven by wisdom, hard work, experience and passion.

Strategic Partners

24M works closely with top US and global scientific, government and industrial partners who recognize that energy storage is critical to the future of mankind. We are the proud recipients of two DOE awards from ARPA-e and the vehicle technologies division.

Investors

Charles River Ventures and North Bridge Venture Partners, the 24M founding investors, are among the top venture firms in the world. They are joined by three strategic industrial partners as major investors in the company. The company has raised $50M.

Learn About Investing in 24M