ACT-ion Secures $7.5 Million in Pre-Series A Funding with BASF as Lead Investor
Deal News | Feb 14, 2025 | LG Technology Ventures LLC
ACT-ion Battery Technologies, a company specializing in lithium-ion battery cathode active materials, has successfully closed its Pre-Series A funding round, raising $7.5 million. This round was led by BASF Venture Capital and saw participation from Hunt Energy Enterprises, Mirae Asset Capital, Arosa Capital Management, and LG Technology Ventures. ACT-ion aims to utilize this funding to advance its CAM production technology and is planning to establish an operational pilot facility by 2025. The company's innovative process addresses critical challenges in the lithium-ion battery market, such as reducing CAM production costs and increasing production throughput. ACT-ion has already received recognition for its technologies, including an R&D 100 award, and has demonstrated its manufacturing platform across various chemistries. The company, incubated by Hunt Energy Enterprises, seeks to impact markets involving electric vehicles, power tools, and more. Investors from Arosa Capital Management and BASF highlight the importance of ACT-ion's mission to improve CAM production and scale domestic manufacturing capabilities.
Sectors
- Advanced Manufacturing
- Renewable Energy
- Venture Capital
Geography
- United States – ACT-ion is based in the U.S., where it plans to advance its domestic CAM production capabilities.
- Global – Investors involved in the round, such as BASF and Mirae Asset Capital, have global operations affecting multiple regions.
Industry
- Advanced Manufacturing – ACT-ion is revolutionizing lithium-ion battery production with a clean, efficient, and scalable process for cathode active materials.
- Renewable Energy – The company's focus on battery technology supports growth in electric vehicles and other renewable energy markets.
- Venture Capital – The article discusses capital investments from multiple VC firms led by BASF Venture Capital.
Financials
- 7.5 million – The total amount of funding raised in ACT-ion's Pre-Series A round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ACT-ion Battery Technologies | Target | Company | A startup specializing in lithium battery cathode active materials. |
| BASF Venture Capital | Lead Investor | Company | A venture capital firm focused on supporting innovative startups in decarbonization and new materials. |
| Hunt Energy Enterprises | Incubator | Company | The energy venture arm of Hunt Energy Company involved in developing ACT-ion. |
| Mirae Asset Capital | Investor | Company | A financial institution specializing in fostering innovation across various sectors. |
| Arosa Capital Management | Investor | Company | An investment manager focusing on alternative energy and related sectors. |
| LG Technology Ventures | Investor | Company | The venture capital arm of LG Group, investing in early-stage startups across multiple technologies. |
| Jin Lim | CTO and Interim CEO | Person | Chief Technology Officer and Interim CEO of ACT-ion Battery Technologies. |
| Joshua Speros | Investment Manager | Person | Investment Manager at BASF Venture Capital. |
| Lillian Shattock | Director of Private Investments | Person | Director of Private Investments at Arosa Capital Management. |
| Victor Liu | Chairman | Person | Chairman of ACT-ion Battery Technologies. |