South Korean battery materials maker Top Material has invested $1 million in Boston-based Nanoramic Laboratories, marking its initial stake in the U.S. battery technology firm after signing their second letter of intent this month.
The investment follows a memorandum of understanding from June and positions Top Material to supply production lines for Nanoramic’s planned lithium iron phosphate electrode manufacturing facility in Connecticut.
Nanoramic’s Neocarbonix technology eliminates the need for fluorinated binders and toxic solvents in electrode manufacturing, potentially reducing costs while improving battery performance. The company has previously secured backing from General Motors and Samsung, along with substantial Department of Energy funding.
Top Material CEO Roh Hwan-jin said the partnership would strengthen cooperation between the companies, suggesting their combined electrode manufacturing capabilities are approaching large-scale commercialization.
The deal aligns with growing demand for LFP batteries in electric vehicles and energy storage systems, though specific production targets for the Connecticut facility weren’t disclosed.
