LiNova Energy, a Monrovia, CA-based ultra-high-energy batteries developer, raised $15.8M in Series A funding.
The round was led by Catalus Capital, who were joined by Saft, a subsidiary of TotalEnergies, Chevron Technology Ventures, and a syndicate of investors.
The company intends to use the funds to expand its research and development efforts, scale up operations, and accelerate the commercialization of its batteries.
Led by CEO Michael Nagus, LiNova has developed a high-energy polymer battery technology that is designed to allow material replacement of the traditional cathode containing cobalt, nickel, and other critical materials. Its ultra-high-energy batteries are developed for the EV, Aerospace, and Energy Storage industries.
Commenting on the news, Michael Nagus said: “This funding is a testament to the potential of our technology and the impact it will have on delivering a more sustainable battery for the world’s energy storage needs. With this investment, we are well-positioned to advance our mission and bring our innovative polymer cathode batteries to market.“
