Taiwan’s ProLogium Technology Co has raised a complete of $326 million in its newest funding spherical from Primavera Capital Group, SoftBank China Enterprise Capital and others, that possible valued the solid-state lithium battery maker at $2-$3 billion.
The corporate plans to make use of the capital to develop its mass manufacturing of solid-state lithium batteries in Asia, Europe and the USA between 2023 and 2025, it mentioned in an announcement on Friday.
Stable-state batteries might be recreation changer for EVs by storing extra power, charging quicker and providing better security than liquid lithium-ion batteries, serving to speed up the shift away from fossil fuel-powered vehicles.
ProLogium goals to go public in the USA earliest by subsequent 12 months, two individuals with direct information advised Reuters, including that the corporate was valued at $2 billion to $3 billion after the most recent spherical of fundraising.
ProLogium did not instantly reply to a request for remark.
The battery maker, which is but to ship any battery product to automakers, have signed strategic cooperation agreements with Chinese language EV makers Nio and Enovate, in keeping with the corporate’s web site.
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