WOBURN,
Mass., June 27, 2024 /PRNewswire/ -- Feon Energy,
an advanced battery electrolyte startup spun out of Stanford University, announced the recent closing
of a $6.1 million seed round that
will enable the development of next-gen batteries. The round was
led by Fine Structure Ventures, with participation from Eight
Roads, Foothill Ventures, MassVentures, EPS Ventures, and Valkyrie
Fund.
The new funding will allow Feon to expand its world-class
R&D team, scale up its high-throughput molecular discovery
platform, and accelerate commercial engagement with leading battery
and automotive players.
"Electrolytes are the key enabler for unlocking next-generation
batteries but have been a major bottleneck holding back their
commercialization," said Wenxiao Huang, co-founder, and CEO of
Feon Energy. "Our pharma-inspired molecule design platform allows
us to invent new electrolyte molecules tailored for each
chemistry's unique needs, rather than force-fitting existing
materials."
Feon Energy is pioneering a platform approach to create new
electrolyte molecules and formulations purposefully designed for
advanced battery chemistries like lithium-metal and cobalt-free
ultra-high-voltage lithium-ions. Their non-flammable liquid
electrolyte solutions enable advanced batteries with higher energy
density, improved safety, lower cost, and more supply chain
resilience than today's lithium-ion batteries.
Feon's electrolyte platform technology offers unique advantages,
including the ability to simultaneously address multiple future
chemistries, seamless integration into existing battery
manufacturing processes for fast scaling, and a molecular-level
understanding that enables continuous innovation.
"Electrolytes are a critical piece of the battery puzzle that
has been underserved and overlooked for too long," said
Jennifer Uhrig, Senior Managing
Director at Fine Structure Ventures. "Feon's innovative molecular
approach positions them to play a key enabling role in
commercializing advanced batteries across multiple chemistries and
applications."
Since launching in late 2022, Feon has rapidly achieved key
milestones. As its first product, Feon has developed lithium-metal
batteries with energy densities over 400 Wh/kg, 50% higher than
today's lithium-ion batteries. It has begun to ship such pre-A
samples to leading automotive, aviation, and consumer electronics
OEMs. Critically, these lithium-metal cells have obtained UN 38.3
safety certification - an international standard for safely
transporting lithium batteries. Meeting UN 38.3 requirements
through rigorous third-party testing confirms that Feon's batteries
can withstand extreme conditions like short-circuiting, crushing,
vibration, forced discharge, and exposure to high temperatures.
This critically important safety validation paves the way for
commercial deployment of Feon's high-energy lithium-metal
solution.
Media contacts: Info@feonenergy.com
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SOURCE Feon Energy, Inc.