Elevated Materials Completes First Year with Strong Commercial Momentum and Announces Plans to Triple Production in 2026

Company delivers more than 100 kilometers to one of its customers and accelerates toward gigawatt-hour scale manufacturing

SANTA CLARA, Calif., Feb. 3, 2026 /PRNewswire/ -- Elevated Materials today announced major milestones as it celebrates its one-year anniversary, highlighting rapid growth in production, customer adoption, and organizational scale. Elevated Materials was carved out of Applied Materials on February 1, 2025, with an investment from the TPG Rise Climate Fund.

The company closed 2025 with record output of ultra-thin lithium metal films, shipping product to more than 30 customers worldwide. Notably, Elevated Materials delivered more than 100 kilometers of lithium film to a single customer, underscoring strong market demand for high-quality, scalable lithium metal solutions.

"The industry has long been seeking a reliable source of high-quality, ultra-thin lithium films to improve battery performance," said Jim Cushing, CEO of Elevated Materials. "We are filling that gap with our ultra-thin, smooth, and low-defect ELi™ films. Demand has been particularly strong for lithium metal anodes, where ELi significantly improves both safety and performance."

Elevated Materials' proprietary roll-to-roll vacuum deposition platforms produce ELi, the industry's highest-quality ultra-thin lithium metal films. These films enable next-generation anode architectures across electric vehicles, consumer electronics, aviation, and grid-scale energy storage.

The company's production momentum reflects the growing urgency among battery manufacturers to secure reliable supplies of ultra-thin lithium metal anodes as advanced cell designs move closer to commercial deployment.

Looking ahead, Elevated Materials noted that 2026 will be focused on scaling production to meet increasing customer demand.

"As we move into 2026, Elevated Materials will continue ramping to true gigawatt-hour scale manufacturing," Cushing added. "With accelerating customer demand, we are tripling production capacity to support the commercial battery programs of our key customers."

Elevated Materials' successful first year and rapid scale-up reinforce its position as a critical supplier for next-generation battery developers seeking consistent, scalable lithium metal solutions.

About Elevated Materials
Elevated Materials is a TPG Rise Climate portfolio company carved out of Applied Materials and focused on scaling breakthrough battery technologies to accelerate global decarbonization and electrification. The company draws on decades of expertise in semiconductors and roll-to-roll vacuum deposition to deliver the industry's widest and highest-quality ultra-thin lithium films. Elevated's films boost energy density, extend battery life, and enable significantly faster charging across lithium-ion battery applications and anode chemistries.