Ionic Mineral Technologies (Ionic MT), a vertically integrated US producer of advanced materials, has closed a $29 million Series B financing round to expand domestic production of key battery components.
The oversubscribed round surpassed its initial $25 million target, signaling strong investor interest in bolstering US-based supply chains for electric vehicles (EVs), energy storage, and defense applications.
The funding will support production scale-up at Ionic MT’s 74,000-square-foot facility in Provo, Utah, focusing on two materials critical to next-generation lithium-ion battery design:
- Ionisil: A nano-silicon anode material designed to improve energy density and cycle life in EV and defense batteries
- IonAl: A high-purity boehmite alumina used in battery separators and advanced ceramics
Ionic MT sources its halloysite clay domestically from Utah and processes it in-house using proprietary, low-carbon methods. This approach aims to reduce dependence on imported materials and aligns with broader industrial and national security goals related to battery supply chain resilience.
The Series B capital will accelerate scale-up of Ionisil to 1,000 metric tons per year, enabling further qualification with battery OEMs and suppliers. The company’s process avoids silane and relies on a magnesiothermic reduction method that targets energy capacities above 2,500 mAh/g, potentially supporting higher-performance EV batteries at lower cost.
IonAl production will scale to 5,000 metric tons annually, offering a domestic alternative to imported alumina for use in lithium-ion battery separators. Commercial shipments are expected in 2026.
As production ramps, Ionic MT is advancing product validation with Tier-1 partners across the EV, battery, and defense sectors, while continuing to expand its technical and manufacturing teams.
Filed Under: Batteries, Technology News