Coreshell Technologies Raises $30M Series B to Scale China-Free Batteries for U.S. Industries

Round co-led by Ferroglobe and Access Industries builds on $50M DOE grant to accelerate commercialization of batteries made with domestic critical materials

SAN LEANDRO, Calif., Nov. 11, 2026 /PRNewswire/ -- Coreshell Technologies, a battery technology company, today announced the close of a $30 million Series B financing round co-led by Ferroglobe PLC (NASDAQ: GSM) and Access Industries, with participation from ADS, Helios Ventures, Pegasus Tech Ventures, Mana Ventures, and Entrada Ventures. The funding will accelerate the commercialization and scale-up of Coreshell's battery technology, support expansion of manufacturing and customer programs, and advance its goal of eliminating dependence on China for critical battery materials across both the anode and cathode supply chains.

This round builds on significant public-sector support for Coreshell's domestic battery manufacturing efforts, including a $50 million grant from the Department of Energy in August.

The financing comes as U.S. manufacturers across defense, automotive, data centers, and other key industries look to strengthen supply-chain resilience and secure access to domestic sources of critical materials. Federal sourcing requirements, including those under the National Defense Authorization Act (NDAA), along with new procurement policies and White House measures, are accelerating that shift, particularly in defense, where compliance alone may not protect manufacturers from supply-chain disruptions.

Graphite is a critical component of conventional lithium-ion batteries, and more than 90 percent of the world's graphite is processed in China. This concentration leaves battery manufacturers and their customers vulnerable to disruptions beyond their control.

 In 2023, China tightened controls on graphite exports, underscoring the risks of relying on a concentrated source for a critical battery material. Coreshell eliminates that vulnerability by replacing graphite entirely with metallurgical silicon (MGS), a widely available, low-cost material produced in the US.

"Meeting sourcing requirements is an important step, but it doesn't necessarily mean a battery supply chain is secure, no matter what industry you're in," said Jonathan Tan, CEO and Co-Founder of Coreshell Technologies. "This new financing gives us the resources to scale a battery supply chain that eliminates dependence on China for critical materials while delivering advantages in performance and cost."

That effort is already underway. Coreshell is using its $50 million federal grant to build the first giga-scale factory for cells using MGS anodes, vastly expanding domestic production of this critical battery technology.

"As uncrewed systems become increasingly important to the future of American defense, the batteries powering those systems cannot be a geopolitical liability," said Dave Bellis, Manager of Corporate Strategy and Development at ADS, the top supplier to the Defense Logistics Agency. "Coreshell has a differentiated technology and a supply chain designed around domestic critical minerals, giving the defense industry a path toward batteries that are both high-performing and genuinely secure."

A Battery Technology Built Around Domestic Materials

Coreshell replaces conventional graphite with metallurgical silicon (MGS), a raw, commercially produced form of silicon that differs from the expensive, silane-based materials used in other silicon-anode cells. Coreshell's MGS anode leverages silicon's performance and cost advantages while using an abundant, domestically sourced material. On the cathode side, an agreement with L&F Co., Ltd provides long-term access to lithium, enabling Coreshell to produce batteries free of Chinese critical materials.

About Coreshell Technologies, Inc.

Coreshell Technologies develops high-performance batteries designed to eliminate dependence on Chinese critical minerals. Its proprietary battery technology replaces conventional graphite in lithium-ion batteries with American metallurgical silicon (MGS), delivering higher performance at lower cost while enabling a domestic supply chain. Headquartered in San Leandro, California, Coreshell works with battery manufacturers, automotive OEMs, defense customers and other organizations seeking more secure energy storage solutions. For more information, visit www.coreshell.com.

SOURCE Coreshell Technologies