Soteria Launches Crowdfunding Campaign to Fund Its Fight Against Battery Fires
Soteria is launching a crowdfunding campaign to provide resources to develop and launch a line of inherently safe batteries for e-bikes and other markets.
GREENVILLE, S.C., Aug. 16, 2023 /PRNewswire/ -- Soteria has been working with a group of experts from NASA, Munro & Associates, Polaris and other companies to understand the deficiencies in current batteries for e-bikes. With the project concluding soon in the form of robust best practices, Soteria wants to turn the best practices into safe battery packs for immediate adoption in e-bikes. In doing so, Soteria is launching a crowdfunding campaign on StartEngine to provide the resources quickly.
This will also mark the first opportunity for non-accredited investors to invest directly into Soteria, allowing them to participate alongside the institutional and accredited investors who have already invested $8.3 million. Soteria's lithium-ion battery safety technology prevents explosions in e-bikes, electric vehicles and other devices by halting potential ignition events before they occur. With a portfolio of over 80 granted patents, Soteria's technology addresses the root cause of these explosions, ensuring the safety of consumers and industries alike.
To enable broad access to its technology, Soteria has formed a consortium of over 125 industry leaders, including NASA, Mercedes, Lenovo, and DuPont. This consortium provides a platform for an open discussion of safety problems and solutions in a market projected to exceed $400 billion by 2030 (McKinsey & Company).
"Soteria is dedicated to helping the lithium-ion battery industry improve safety, using whatever resources necessary. Our technology is certainly a piece, but we'll be pulling many safety strategies into a new line of safe e-bike battery packs to be produced by our recent acquisition, Voltaplex, to get them to market as quickly as possible," remarked Brian Morin, CEO of Soteria. "We are going to license these designs to the whole industry, and lead the way by launching our own products first."
Soteria has grown its consortium from an initial 12 founding members in 2018 to over 125 today, including some of the most elite names in lithium-ion batteries. Their 2023 year-to-date revenue is 87% higher than last year, having already surpassed $1 million in 2023. Commercial launches using its technology are planned in consumer electronics and micro mobility, with several additional projects that have already begun in the electric vehicle market. With the support of the consortium members, Soteria is set to help raise the safety standard across industries, especially those that rely so heavily on lithium-ion batteries.
To become part of this transformative journey and support Soteria's crowdfunding campaign, please visit the campaign page on StartEngine at startengine.com/offering/soteria.
About Soteria Battery Innovation Group, Inc.
Soteria is a lithium-ion battery safety platform that includes both a technology to eliminate battery fires and consortium to promote best practices for lithium-ion battery safety. Soteria's patented technology eliminates the root cause of thermal runaway by forming a fuse around internal short circuits and allowing cells to continue to function. Soteria's mission is to have inherently safe batteries everywhere, which Soteria believes will take a wholistic approach to safety, combining complementary safety technologies from many companies and strategies. Soteria's consortium has over 125 members including NASA, Mercedes, Bosch, Motorola, Lenovo and many more. Soteria was founded in 2017 by Dr. Brian Morin and is headquartered in Greenville, SC. For more information, please visit www.soteriabig.com.
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SOURCE Soteria Battery Innovation Group
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