Funding secured by Ultion Technologies for the expansion of vital American battery manufacturing infrastructure.
Ultion Technologies, a U.S. company specialising in advanced lithium iron phosphate (LFP) battery cell technology and energy storage systems, is ramping up its domestic production capacity. This expansion is driven by Series A funding, led by Torus, a Utah-based energy storage solutions company, aiming to address America's critical battery supply chain vulnerability.
The investment will enable Ultion Technologies to scale its domestic production capacity more than fivefold at its Nevada battery plant. The company, founded by Dr. Johnnie Stoker, is positioning itself to build a vertically integrated battery manufacturing ecosystem in the U.S.
Torus values Ultion's batteries for their reliability, shorter lead times, and ability to innovate without international supply chain delays. Torus, an investor in Ultion Technologies and a customer of its advanced LFP batteries, sees this partnership as a strategic step toward securing the battery supply chain critical for electric vehicles (EVs) and energy storage systems.
The expansion reflects a broader movement in the U.S. battery industry. Companies like Ultium Cells (a GM-LG joint venture) are also upgrading facilities to produce LFP cells by late 2027, signaling significant scaling of LFP production domestically. LFP batteries are increasingly favoured for their safety, lower cost, and longevity.
Dr. Stoker and the Ultion team have over two decades of experience building batteries together across multiple continents. Their past experiences include building six of the earliest lithium battery factories internationally in countries such as China, Finland, Ireland, and the United States.
The scaling of production will create high-quality American manufacturing jobs and position Ultion Technologies to lead America's growing energy storage market. The funding proves that American-made batteries can compete with imported batteries in terms of performance and cost.
Ultion's Nevada facility uses a predominantly domestic supply chain and plans to achieve fully domestic sourcing in the near term. This move is considered a strategic step toward reducing dependence on foreign imports and improving supply chain resilience.
Wood Mackenzie projects more than $1.2 trillion in global battery energy storage investment by 2034 to support the rise of grid-forming renewables. With this growth in mind, Ultion's unique advantages, including its proven cell technology, deep industry expertise, and steadfast commitment to American manufacturing, make it a key player in the industry.
Additional mission-aligned investors participated in the funding round, including Nevada state-sponsored venture capital program Battle Born Venture. This investment underscores the importance of domestic battery production for energy security and job creation in the U.S.
Without dramatic growth in domestic battery production, the vast majority of the economic value will flow overseas. Dr. Stoker believes that every battery imported from outside the U.S. is a missed opportunity for American jobs and a vulnerability in energy security. The scaling of Ultion Technologies' production is a significant step toward addressing this issue.
Nate Walkingshaw, the co-founder and CEO of Torus, expressed his support for Ultion Technologies, stating, "Ultion Technologies is poised to lead the American energy storage market with its innovative, domestically produced LFP batteries. We are proud to support their mission to create high-quality manufacturing jobs and secure America's energy future."
In summary, Ultion Technologies is actively ramping up U.S.-based LFP battery production through increased investment and capacity expansion, aiming to establish a fully domestic supply chain as part of a national push to reduce reliance on international sources of critical battery components. Commercial scale-up and material sourcing domestically are the key future plans currently underway.
- Torus, being an investor in Ultion Technologies and a customer of its advanced LFP batteries, sees this partnership as a strategic step towards securing the battery supply chain critical for not only electric vehicles (EVs) but also for the finance and technology sectors that heavily rely on energy storage systems.
- With the growth in battery energy storage investment projected by Wood Mackenzie, reaching more than $1.2 trillion by 2034 to support the rise of grid-forming renewables, Ultion Technologies, with its unique advantages in cell technology, industry expertise, and commitment to American manufacturing, positions itself as a key player not just in the U.S. battery industry, but also in the global finance, energy, business, and technology sectors.
