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Corporate Fact Sheet L3 - 24M


24M was founded in 2010 and emerged from stealth in June 2015.

About 24M:
24M answers the world’s need for affordable energy storage through a new, cost-effective class of the lithium-ion battery, powered by revolutionary semisolid lithium-ion technology. By reinventing the design of the battery cell, as well as the battery manufacturing process, 24M solves the critical, decades-old challenge associated with the world’s preferred energy storage chemistry: reducing its high cost while bettering its performance.

About Semisolid Lithium-Ion:
An invention in the MIT lab of Dr. Yet-Ming Chiang, 24M’s semisolid lithium-ion electrode enables a more efficient design of the lithium-ion battery. Semisolid electrodes are thicker than conventional lithium-ion electrodes and carry several times higher capacity per area.

24M has a number of strategic industrial partners including IHI and GPSC, the power arm of PTT Group.

Management Team:
24M was founded and is led by some of the battery industry’s foremost inventors, scientists and entrepreneurs.
- Yet-Ming Chiang, Chief Scientist, Co-Founder
- Rick Feldt, President, CEO & Chairman
- Naoki Ota, CTO
- Dan Russell, VP of Operations

Funding: 24M has raised $50 million in private capital (Series A and B rounds) from venture firms Charles River Partners and North Bridge and industrial partners. The Company has also received a $4.5 million grant from U.S. Department of Energy.

Cambridge, Massachusetts

Website: www.24-m.com
Twitter: @24M_Tech
Facebook: https://www.facebook.com/24MTechnologies
LinkedIn: https://linkedin.com/company/24m-technologies