SAN DIEGO, July 13, 2022 /PRNewswire/ -- Wildcat Discovery Technologies (Wildcat), a technology company that uses proprietary high throughput methods to rapidly develop new battery materials, announced today that it has raised $90 million in a Series D funding round led by Koch Strategic Platforms (KSP), an investment subsidiary of Koch Industries. Other significant investments come from Eastman Kodak (Kodak) and Fifth Wall Climate.
Wildcat is developing multiple innovative technologies, all key to formulating a breakthrough EV "super cell". The EV "super cell" is envisioned as a transformational battery cell combining three Wildcat proprietary technologies currently in development, including a cobalt and nickel free high energy cathode, a composite solid-state electrolyte and a lithium metal anode.
This next-generation battery cell targets an astounding >90 percent improvement in energy density over today's best batteries, which could further accelerate the widespread adoption of EVs. Additionally, the innovative components are all being developed with conflict-free materials — reducing the supply chain's dependence on both nickel and cobalt.
The funding round will be used to support the rapid development and commercialization of the battery cell, including added staff, research capacity, and significant scale-up capabilities with the goal of having the "super cell" ready for commercialization in two years.
Wildcat has also entered a development agreement with Kodak to develop and scale substrate coating technologies, critical for the safety and reliability of the next generation of EV battery technology.
"The next generation of EV batteries requires innovation, resources, and unique capabilities that we are delivering with an impressive consortium of leading investors and partners. Koch and Fifth Wall Climate contribute significant financial resources and sophistication, while Eastman Kodak brings industry-leading technical and scale up expertise to the consortium" said Mark Gresser, CEO at Wildcat. "Coupled with Wildcat's unique high throughput research capabilities, we have all the ingredients necessary to bring these breakthrough products to market quickly."
"This is Koch's second investment in Wildcat, and part of nearly $1.9 billion in energy transformation investments we've made in the past 2 years," said Jeremy Bezdek, Managing Director of Koch Strategic Platforms. "Wildcat is a visionary company, focusing on transformative solutions to the issues limiting the lithium-ion battery market."
Stephens Inc. acted as financial advisor to Wildcat Discovery Technologies.
Wildcat Discovery Technologies accelerates the discovery of new materials for energy applications, with a focus on the development of advanced materials for rechargeable and primary batteries. Wildcat's experienced team of scientists uses proprietary high-throughput tools to rapidly develop and optimize breakthrough materials, with corporate partners throughout the global battery and materials supply chains. Wildcat has also been named one of the "50 Most Innovative Companies" by Technology Review magazine. For additional information about Wildcat, visit us at www.wildcatdiscovery.com, or follow us on LinkedIn.
SOURCE Wildcat Discovery Technologies