Nanoramic® Laboratories Receives $3.6M USABC Contract Award for Low-Cost/Fast-Charge EV Battery Technology Development

BOSTON, March 17, 2022 /PRNewswire-PRWeb/ -- Nanoramic® Laboratories today announced it received a competitively bid, $3.6M contract award from the United States Advanced Battery Consortium LLC (USABC) in collaboration with the U.S. Department of Energy (DOE) for low-cost/fast-charge (LCFC) lithium-ion (Li-ion) battery technology development. The contract includes a 50 percent cost-share by Nanoramic.

The new 30-month contract follows research previously conducted with USABC to develop a LCFC EV Battery cell capable of meeting or exceeding several critical USABC technical goals. The cell will combine proprietary Neocarbonix® at the Core NMP/PVDF-free cathode and low-cost silicon anode technology for the first time for fast-charging EV applications. This is Nanoramic's second contract with USABC.

"This project will demonstrate how Neocarbonix at the Core technology can provide large battery cells with a dramatic increase in energy density, decrease in cost per kWh, and fast charge, while using conventional battery manufacturing equipment and producing highly recyclable batteries."- Eric Kish, CEO of Nanoramic.

USABC is a subsidiary of the United States Council for Automotive Research LLC (USCAR). Enabled by a cooperative agreement with the U.S. Department of Energy (DOE), USABC's mission is to develop electrochemical energy storage technologies that support widespread commercialization in vehicle applications. In support of its mission, USABC has developed mid- and long-term goals to guide its projects and measure its progress. For more information, visit http://www.uscar.org/usabc.

About USCAR
USCAR is the collaborative automotive technology company for Ford Motor Company, General Motors and Stellantis. The goal of USCAR is to further strengthen the technology base of the domestic auto industry through cooperative research and development. For more information, visit http://www.uscar.org.

All USCAR Member companies have joined in becoming signatories of the Responsible Raw Materials Initiative (RRMI, now part of the Responsible Minerals Initiative, RMI) Declaration of Support.

About Nanoramic
Nanoramic Laboratories is an industry-leading energy storage and advanced materials company. Spun out of MIT in 2009, the company has 150+ patents in active prosecution and develops cutting-edge energy storage solutions to meet mission critical demands.

Nanoramic developed a proprietary battery technology, Neocarbonix at the Core, that enables Tier-I battery companies and automotive OEMs to achieve next-gen battery performance while using existing equipment and manufacturing processes. Neocarbonix at the Core replaces conventional PVDF binder and NMP solvent used in standard battery manufacturing with an advanced 3D nano-carbon binding structure and low-boiling-point solvent. Batteries made with Neocarbonix at the Core are more environmentally friendly and have higher energy density and power, 15-minute fast charging, and long cycle life, all at lower cost per kWh. See https://www.nanoramic.com/

Nanoramic, Thermexit, Neocarbonix and FastCap are trademarks of FastCap Systems Corporation, doing business as Nanoramic Laboratories. © 2022 FastCap Systems Corporation. All Rights Reserved.

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Lauren Cotta, Nanoramic Laboratories, +1 (857) 302-3210, [email protected]

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SOURCE Nanoramic Laboratories