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
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.
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SOURCE TeraWatt Technology Inc.
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