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CENTENNIAL, 31 July 2023: Iontra Inc, a Colorado-based pioneer in next-generation battery charging technology, has successfully concluded its Series B funding round with an additional investment of USD 29m. This brings the total raised in the Series B round to USD 67m and the total funding to date to USD 80m. Notable energy sector investors, including Volta Energy Technologies and Riverstone, along with Flag Asset Management and others, led the additional funding. The financing was facilitated by JPMorgan Chase acting as the placement agent.
Advancing Battery Charging Technology
The recent funding will propel Iontra’s position as a fabless supplier of a cost-effective and compact battery charger microcontroller (MCU) for various battery-powered consumer products like smartphones, power tools, wearables, and hearables. Manufacturers can seamlessly integrate Iontra’s MCU into their products, unlocking the full potential of their batteries and reducing Bill-of-Materials (BOM) costs. The company has established chip design centers in Dallas and Bangalore, India, collaborating with leading semiconductor companies to deliver a robust and reliable solution to customers.
A Sustainable and Secure Energy Future
Iontra’s innovative charge control technology significantly enhances battery performance, cycle life, and safety while eliminating issues like plating and dendrite formation that commonly arise during fast charging. Remarkably, this technology achieves all these improvements without requiring any redesign of battery cells or packs. By maximizing the use of critical battery minerals and materials, Iontra aims to create a more sustainable and secure energy future.
Addressing Global Challenges & Validated Technology
As the demand for battery minerals and materials surges, the industry faces significant short and long-term supply chain challenges. Iontra’s charge control technology offers a solution to these issues, effectively extending the lifespan of batteries and optimizing their charging and discharging processes. Existing charge management solutions from companies like Analog Devices, Qualcomm, and Texas Instruments fall short in delivering the substantial performance enhancements that Iontra’s approach provides.
Iontra’s breakthrough charge control technology has undergone extensive validation, with approximately three million cycling hours of testing across various battery types. The system’s quality, reliability, and durability have been thoroughly assessed in-house and by four independent research labs, including National Renewable Energy Laboratory, Novonix, UL Solutions, and the University of Michigan.
A Transformational Approach
Volta Energy Technologies’ CTO, David Schroeder, praises Iontra’s transformational battery charge control technology, emphasizing that it represents a novel and proven approach that addresses critical climate and energy supply chain challenges. With Iontra’s technology, product manufacturers can significantly improve their products and reduce the need for large quantities of new battery materials, making it an economically and environmentally sound choice.
Conclusion
Iontra’s successful Series B funding marks a significant step forward in the advancement of next-generation battery charging technology. With its innovative charge control solution, Iontra aims to create a more sustainable and secure energy future while providing manufacturers with an effective way to enhance battery performance and extend their lifespan. The company’s validated and transformational approach sets it apart in the rapidly evolving battery industry.
