TeraWatt Technology completes Series B funding to accelerate pilot production of its next-gen lithium-ion batteries.

SANTA CLARA, Calif., June 9, 2022 /PRNewswire/ -- TeraWatt Technology, a next-gen lithium-ion battery producer for diverse electrified applications, has announced the completion of Series B funding led by Temasek, a global investment company headquartered in Singapore. Investors from Series A, including Khosla Ventures, JAFCO, and Scrum Ventures participated again in this round. Coral Capital and Daikin joined the Series B round as a new investor.

The investment will accelerate the development and the production of TeraWatt's commercial-grade flagship batteries that combine high energy density with high power density under wider operating temperatures and moderate external pressures. The batteries aim to electrify a variety of automobiles with a longer-driving range, increase the payload and flight-time of advanced drones, and enable emerging applications such as eVTOLs, among others. The batteries with a capacity of 6,800mAh and an energy density of 416Wh/kg have already passed UN38.3* and all the safety test items in IEC62133-2*, conducted by a third party, UL Japan, Inc.

"We are thrilled to move forward, with this Series B funding, to accelerate the development and production of our commercial-grade cells at scale with precision and safety," said TeraWatt Technology founder CEO Ken Ogata, Ph.D. "Importantly, working with world-leading investors who have significant track records in the space would add significant value to our mission, electrifying all for the sustainable future."

About TeraWatt Technology

Based in Santa Clara, California, TeraWatt Technology is a leading producer of next-gen lithium-ion batteries for diverse electrified applications, led by co-founder CEO Ken Ogata and co-founder, finance & strategy lead Kazuma Yamauchi. TeraWatt Technology operates from its Santa Clara headquarters and its subsidiary in Japan with outstanding support from Organization for Small & Medium Enterprises and Regional Innovation (SMRJ). Investors who joined the previous rounds include Mirai Creation Fund II (managed by SPARX Group), In-Q-Tel, and other industry-leading VC firms, and reputable angel investors.

*This does not mean that UL Japan, Inc. guarantees the product's safety or other matters.

SOURCE TeraWatt Technology Inc.