San Diego, CA, October 15, 2019 --(PR.com
)-- Wildcat Discovery Technologies, a technology company that uses proprietary high throughput methods to rapidly develop new battery materials, announced today that it has raised more than $20 million to support its growing battery research and technology operations. The financing was led by Flint Hills Resources of Wichita, Kansas and IPM Group in consortium with InoBat. Also participating in the round were existing investors including Presidio Partners, 5AM Ventures and Infield Capital.
The new financing will support the improvement and expansion of Wildcat’s unique-in-the-world high throughput research platform (HTP), hardware, modeling, and AI capability, as well as the launch of a new HTP sales and licensing effort targeted at select partners. Additionally, funding will augment the resources available for internal advanced battery research efforts. Coupled with a recent grant awarded from the US Department of Energy, Wildcat will have a well-funded, sustained research effort using the full power of HTP and AI to solve some of the industry’s most exciting technical challenges such as solid state electrolyte, protected lithium anode, and a cobalt-free cathode.
Mark Gresser, Wildcat’s CEO, stated, “Wildcat is honored and excited to have the endorsement and participation of two great new investors, Flint Hills Resources, and IPM Group in consortium with InoBat. With our investor Flint Hills, we gain the financial backing of an incredibly successful enterprise with deep ties throughout the energy and automotive industries, and with IPM’s and InoBat’s support, we have the ability to partner with an emerging European based battery manufacturer who can expand our strategic reach to Central and Eastern Europe.”
“Improved battery technology has the potential to drive disruptive innovation across the economy, especially in the transportation sector. We believe Wildcat is well positioned to be on the cutting-edge of these innovations,” said Jeff Ramsey, president and CEO of Flint Hills Resources.
“The investment in Wildcat, particularly alongside Flint Hills Resources, is an honor. Wildcat, as a global leader in lithium-ion battery research and development, has a potential to revolutionize the auto battery industry. Our investment marks an important milestone for the InoBat Auto project, a joint venture between Wildcat and InoBat, laying the ground for the construction of Slovakia-based EUR100m battery production and R&D line starting in 2020, with the aim of commencing operations towards the end of 2021,” commented Marian Bocek, Managing Partner at IPM Group and Executive Chairman at InoBat.
About Wildcat Discovery Technologies
Wildcat Discovery Technologies accelerates the discovery of new materials for energy applications, with a focus on the development of advanced materials for rechargeable and primary batteries. Wildcat’s experienced team of scientists uses proprietary high-throughput tools to rapidly develop and optimize breakthrough materials, with corporate partners throughout the global battery and materials supply chains. Wildcat has also been named one of the “50 Most Innovative Companies” by Technology Review magazine. Please visit www.wildcatdiscovery.com
for more details about Wildcat and its battery work.
For more information about this press release or joint development agreement opportunities, please contact:
Wildcat Discovery Technologies
VP, Business Development
(858) 550-1980 x114