American Battery Manufacturing facility (ABF), a battery producer that plans to construct a community of lithium iron phosphate (LFP) battery cell gigafactories within the US, has raised important improvement capital in Collection A funding. ABF will use the funds to safe manufacturing gear and safety expertise wanted for the primary improvement section of its lately introduced gigafactory in Tucson, Arizona.

Different buyers within the Collection A spherical embody hybrid manufacturing associate FNA Group, Lion Vitality, and an unnamed battery-cell gear manufacturing firm.

“Our imaginative and prescient is to assist the US quickly electrify, and vitality storage is the one resolution that makes this attainable,” mentioned Jim Ge, CEO of American Battery Manufacturing facility. “The primary main step on this journey would be the building in Arizona of the most important US gigafactory for producing lithium iron phosphate (LFP) battery cells, and preliminary improvement can be funded by this Collection A spherical. We anticipate delivering our first battery cells inside the subsequent 18 months.”

Investor Lion Vitality, a developer and producer of vitality storage merchandise, incubated ABF for 18 months earlier than unveiling the corporate to the general public in March 2022. ABF entered into an offtake settlement with Lion Vitality in Might 2022 to ship 18 GWh of LFP battery cells, starting with high-capacity prismatic cells providing 105 to 300 Ah outputs. These are designed for a variety of Lion Vitality options, together with moveable photo voltaic mills and battery-based vitality storage programs.

“We are able to’t transfer to a completely inexperienced vitality financial system with out high-quality lithium batteries,” mentioned Frank Davis, CEO of Lion Vitality. “As one of many fastest-growing pack integrators, Lion Vitality is happy to assist expedite ABF’s manufacturing of the most secure, longest-lasting, most dependable and eco-friendly batteries at the moment obtainable.”

Investor FNA Group is a hybrid manufacturing associate that may present its expertise to ABF’s battery cell manufacturing. Shaped in 1988, FNA Group is a vertically built-in energy gear producer with a world presence throughout america, China, Italy and Australia.

“Our focus is to carry our total provide chain to North America, and that is now attainable by way of American Battery Manufacturing facility,” mentioned Gus Alexander, CEO of FNA Group. “Our world plan is to impress all our subsequent technology of merchandise through the use of ABF battery cells.”

Supply: American Battery Manufacturing facility