TeraWatt Technology Inc. has raised a Pre-C round of financing. In addition to existing investors Temasek, Khosla Ventures, and Jafco Group K.K., this round of financing was led by Development Bank of Japan, INPEX Corporation, JIC Venture Growth Investments, Rakuten Capital, Mori Trust, GLIN Impact Capital, and several other private investors.
The Company will use the funds raised to strengthen its pilot product lineup of high energy density and high power density lithium-ion batteries and to launch a large-scale development facility for the purpose of demonstrating mass production, thereby bringing the commercialization of various electric devices to a more concrete phase.
The current state of the battery industry and the past and future of TeraWatt Technology
The "decarbonization" of society is attracting unprecedented attention in the history of mankind, and decarbonization strategies are accelerating worldwide. The main driving force of "decarbonization" is the "electrification" of various devices, and lithium-ion batteries, especially next-generation lithium-ion batteries, which are the basic industry supporting this electrification, are attracting a great deal of attention around the world. In 2030, the global production scale of lithium-ion batteries is expected to reach approximately 3,000 GWh, and the market scale is expected to grow to approximately 40 trillion yen.
Under such circumstances, TeraWatt Technology is developing next-generation lithium-ion batteries that are significantly lighter, smaller, more powerful, and safer than existing lithium-ion batteries, with the mission of "electrifying everything for a sustainable society," and is aiming for their commercialization. In the course of developing and pilot manufacturing batteries for small applications of approximately 5~8Ah, we have passed the safety test items specified in the United Nations Transport Standard (UN38.3) and the safety standard for rechargeable batteries for portable devices (IEC62133-2) at a third-party institution. With this Pre-C financing, we plan to strengthen our lineup of higher capacity pilot products, conduct large-scale pilot manufacturing demonstrations at a large facility for mass production, and accelerate collaboration with our customers through sample work.